- Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google looks to introduce generative artificial intelligence (AI) into its advertising business over the coming months.
- Google plans to begin using AI to create novel advertisements based on materials produced by human marketers, Financial Times cites an internal presentation to advertisers.
- The integration of its latest generative AI, which also powers its Bard chatbot, means it can produce far more sophisticated campaigns resembling those created by marketing agencies.
- Google told the FT it planned to put firm guardrails to prevent misinformation.
- In March, Google launched Bard to take on Microsoft Corp (NASDAQ:MSFT)-backed OpenAI’s ChatGPT, which can write convincingly humanlike responses to questions and prompts.
- Google also recently integrated generative AI into its widely used productivity applications, such as Google’s Workspace, Google Docs, and Gmail.
- Google will embed the new technology into Performance Max, which uses an algorithm to determine where its ads should run, how the marketing budget should be spent, and produce simple ad copy.
- Google’s advertising revenue slipped by 4% in the fourth quarter of FY22.
- Meta Platforms Inc (NASDAQ:META) launched a similar offering to Performance Max in 2022 called Advantage+. It also plans to use generative AI in its ad systems by the end of the year.
- Price Action: GOOG shares traded higher by 0.31% at $105.45 premarket on the last check Thursday.
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