In today's ExchangeWire news digest: Meta announces a new AI tools for advertisers; Linda Yaccarino replaces Elon Musk as Twitter's CEO; and News Corp reports reduced revenue for Q1 2023.
As part of its renewed focus on AI, Meta has announced an AI Sandbox for advertisers to help them create new ads. The tech will allow users to use AI to develop alternative copies, background generation through text prompts and image cropping for Facebook or Instagram ads.
The system is offered to a limited number or companies now, and is expected to be expanded in July.
Former NBC Universal head of advertising, Linda Yaccarino, has been announced as Twitter’s new chief executive. Elon Musk will step away from the role at the company he bought for $44bn (~£35bn) in October.
Musk had hinted that he wouldn’t be in the role long-term. In Musk’s official announcement he revealed that Yaccarino will focus on business operations, while he turns his attentions to product and new tech.
News Corp reported slightly lower revenue amid a softening advertising market, despite continued growth at Wall Street Journal parent Dow Jones & Co.
The New York-based media company, which owns the Journal, HarperCollins Publishers and news organisations in the U.K. and Australia, said revenue fell 1.8% to USD$2.45bn (~£1.9bn) for the quarter ended March 31.
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