Snapchat, the messaging platform known for its ephemeral photos and videos, is making a significant leap into the realm of artificial intelligence. Evan Spiegel, CEO of Snap, recently announced a substantial increase in AI Investment, aiming to reshape the platform’s future.
“There was a recognition that we’d fallen behind the curve on the machine learning side, which, to some degree, was reflected in the business performance,” Spiegel shared in an interview with Bloomberg News. He emphasized the necessity of advancing their technology to remain competitive and innovative.
AI Investment: Transforming Social Media with AI and AR
Snapchat faces a rapidly evolving social media landscape. Users’ behaviors are shifting, and marketers’ advertising strategies are changing with them. Historically, Snapchat thrived on messaging and brand storytelling. Today, the focus has pivoted to machine learning, AI, and augmented reality (AR). These technologies are integral to enhancing Snap’s advertising and user engagement, creating a more immersive experience.
“We have never worked on anything as profound and meaningful as augmented reality,” Spiegel remarked during a recent earnings call. AR, he explained, seamlessly integrates digital experiences into our physical world, fundamentally transforming daily interactions with technology.
More than 70% of Snapchat users engage with AR within their first day on the app. This high engagement underscores the impact of Snap’s AR tools, which attract both advertisers and users. On average, over 300 million people interact with AR on Snapchat daily, highlighting its significant role in the platform’s ecosystem.
Strategic Partnerships and Future Prospects
Instead of developing AI tools in-house, Snap collaborates with tech giants Amazon and Google through cloud partnerships. This strategy allows Snap to concentrate on product innovation and enhancing the Snapchat experience. Despite outsourcing AI development, Snap plans to invest 84 cents per daily user each quarter in infrastructure, equating to approximately $1.5 billion annually.
Snapchat’s ambitious AI investment reflects a broader trend among social media influencers who utilize AI to enhance audience engagement. Fitness influencer Sara Saffari, with over 2 million Instagram followers, noted that AI streamlines influencer discovery and relationship-building processes. AI tools can filter and screen for fraud, analyze engagement metrics, and forecast campaign results, making marketing efforts more targeted and scalable.
Snapchat’s commitment to AI and AR signifies a transformative journey. By embracing cutting-edge technology and strategic partnerships, Snapchat aims to stay ahead in the competitive social media landscape, continually enhancing user experience and advertiser satisfaction.
