Snap is seeking to patent a system for predicting a conversion rate for advertisements, using machine learning to determine users' likelihood of responding to ads.
Snap's machine learning model evaluates bids, considering user behavior and historical data, to rank advertisements based on predicted performance, aiming to enhance ad effectiveness.
The company is investing heavily in AI, aiming for a $1.5 billion annual budget, to upgrade its advertising strategies and keep pace with Big Tech.
Snap's focus on enhancing its ad platform has led to a 15% revenue growth year-over-year in the third quarter, attributed to improved digital ad performance.
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