Artificial intelligence (AI) has demonstrated significant benefits in various areas, such as enhancing work performance and efficiency, generating content, and aiding with daily tasks. Its recent surge in popularity has led platforms like Snapchat to leverage AI for increased engagement. AI's ability to improve productivity and provide personalized experiences has made it a valuable tool across industries, driving its widespread adoption and integration into various applications and platforms.

For those who may not be aware, Snapchat recently made waves with the launch of its chatbot, My AI, which has garnered significant attention among users. This chatbot brings numerous benefits to Snapchatters, but one of its standout advantages is its ability to provide exceptional recommendations. During a recent event, Snapchat's CEO, Evan Spiegel, mentioned that the introduction of My AI has not only enhanced user experiences but also improved the platform's advertising performance.

Impressively, My AI has been used by nearly 150 million people, resulting in a staggering 10 billion messages exchanged. Surprisingly, out of those messages, 5 million were solely focused on McDonald's, showcasing the diverse conversations taking place on the platform.

According to the report, this tech giant has been facing challenges in terms of ad spending. The company's quarterly earnings report for the first quarter of 2023 reflected this trend, showing a 7% decline in revenue, totaling $988.6 million. However, this decrease is still less compared to the previous year's decline of revenue of $1 billion during the same period.

In order to improve performance, Snapchat’s efforts led to the rollout of My AI in April, expanding its availability to users worldwide. This move aimed to enhance user engagement and satisfaction while attracting more brands to invest in advertising on the platform.

As a matter of fact, Snapchat is not the only tech giant leveraging artificial intelligence to boost revenue. Meta, formerly known as Facebook, recently introduced Voicebox, a generative AI model designed to assist users with tasks such as audio editing and styling. Voicebox's remarkable feature set includes support for six different languages, catering to a global user base.

In the realm of video sharing platforms, TikTok is also embracing AI technology. They are currently testing their own AI model, Tako, which aims to empower users in generating content and expanding their creative capabilities.