AI Index / Snap Inc.
Snap Inc. (SNAP)
Snap Inc. is actively investing in AI and machine learning to enhance content ranking, personalization and advertising performance. The company utilizes generative AI for AR lenses and improved ad solutions like ML-based auto-bidding. AI also powers the 7-0 Delivery Optimization (which enables advertisers to bid on click-through conversions within a seven-day window) and the Conversions API (a first-party data solution for better ad targeting and measurement).
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AI-powered Lens creation is transforming our AR ecosystem, with more than 400,000 lenses submitted in Q1, increasing more than 150% year-over-year.
- Evan Spiegel
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Quotes from snap Executives About Artificial Intelligence and Generative AI
These gains are being driven by continued progress in AI, ranking, retrieval, and automation across the ad platform. Nearly 70% of advertising spend now use at least one of our AI-powered automation solutions.
- Evan Spiegel
In Q1, we launched LLM based user intent understanding for Dynamic Product Ads retrieval, which improved Pixel Purchase conversions by more than 2%, and multimodal similar product retrieval using a vision language model fine-tuned on Snap data.
- Evan Spiegel
Building on this momentum, we introduced AI Sponsored Snaps, a new format that enables brands to engage Snapchatters through interactive, AI-powered conversations in Chat.
- Evan Spiegel
Early traction has been encouraging with Lens+ contributing to higher subscription ARPU and gross margin expansion. We continue to innovate on additional direct value propositions for our community, including the launch of Creator Subscriptions in Q1.
- Evan Spiegel
More broadly, we believe Q1 provides early evidence that the strategic framework we laid out last fall is beginning to translate into more durable revenue growth, a more efficient cost structure and a clear path to net income profitability.
- Derek Andersen