<div>
  <ul>
    <li>
      <p>
        Snapchat launched new AR and GenAI tools targeting brands and advertisers, aiming to make ad creation more interactive and efficient.
      </p>
    </li>
    <li>
      <p>
        Brands can create custom Lenses backed by GenAI by providing a text or image prompt to add realistic face effects. These can subsequently be used as AR ads on Snapchat. The company also launched AR Extensions, allowing advertisers to integrate filters and AR lenses into Snapchat&rsquo;s different ad formats (Spotlight Ads, Snap Ads, etc).
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake: </b>
        Snap has found implementing ML tools to its platform increasingly successful, noting that the number of ML and AI Lenses viewed by users 
        <a href="https://techcrunch.com/2024/04/25/snap-total-watch-time-on-tiktok-competitor-increased-125/">
          increased
        </a>
         by more than 50% YoY in Q1 2024. The news also follows the launch of the company&rsquo;s Lens Studio 5.0 Beta in 
        <a href="https://sp-edge.com/updates/23725">
          November 2023
        </a>
        , which introduced GenAI-backed AR content creation capabilities, among other improvements.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://techcrunch.com/2024/05/01/snapchat-launches-new-ar-and-ml-tools-for-brands-and-advertisers/">
      TechCrunch
    </a>
  </p>
</div>


Extended Reality

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 <p>Snapchat has introduced new Augmented Reality (AR) and GenAI tools designed for brands and advertisers, enhancing interactivity and efficiency in ad creation. Brands now have the capability to create custom Lenses using GenAI, by simply providing a text or an image prompt, which further provide realistic face effects. These newly created Lenses can then be employed as AR advertisements on Snapchat's platform. In addition, Snapchat has also unveiled AR Extensions, a feature that provides advertisers the option to incorporate filters and AR lenses into various Snapchat ad formats such as Spotlight Ads, Snap Ads, among others.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Snap has found implementing ML tools to its platform increasingly successful, noting that the number of ML and AI Lenses viewed by users <a href="https:<br>
//techcrunch.com/2024/04/25/snap-total-watch-time-on-tiktok-competitor-increased-125/"> increased </a> by more than 50% YoY in Q1 2024. The news also follows the launch of the company’s Lens Studio 5.0 Beta in <a href="https:<br>
//sp-edge.com/updates/23725"> November 2023 </a> , which introduced GenAI-backed AR content creation capabilities, among other improvements.</p>

Snapchat introduces new AR and GenAI tools to create interactive advertising experiences

Giving creators the power of content monetization and audience engagement.

Creator Economy

<div>
 <p>Snapchat has collaborated with companies Billion Dollar Boy, Influencer, and The Goat Agency to create a service called Snap Star Collab Studio. This service will allow businesses to capitalize on the influence of creators on Snapchat.</p>
 <p>These new agency partnerships, alongside existing creator agency Whalar, will help facilitate connections between creators and brands for campaigns on Snapchat. The emphasis will be on Sponsored Stories, Snap Ads, and creator-first campaigns. The goal of this initiative is to boost authenticity and user engagement, while fostering brand loyalty.</p>
</div>

Snapchat partners with Billion Dollar Boy and Influencer to leverage creator influence

<div><p>Snap, the parent company of Snapchat, has been awarded a USD 20 million grant by California, consisting of grants and tax credit incentives. This funding is part of the state's initiative to support businesses operating within its borders and to encourage them to locate, stay, and grow in California.</p>
<p>Funds, expected to be received in 2025, will help the company expand its offices globally and boost its AR smart glass manufacturing capacity.</p>
<p>The grant requires Snap to create 508 positions by the end of the 2027 fiscal year and invest more than USD 10 million USD in infrastructure for facility construction or renovation.</p></div>

Snap to receive USD 20 million grant to support California tech industry

Exploring the limitless possibilities of AI

Generative AI Applications

<div>
 <ul>
  <li><p>Snap released Lens Studio 5.0 Beta, an AR development tool backed by GenAI AR content creation capabilities, among other improvements.</p></li>
  <li><p>Lens Studio 5.0 Beta introduces a ChatGPT Remote API for generating text-based content for lenses developed, such as a randomly generated quiz. Other improvements include the addition of a GenAI-backed 3D face mask generator and faster project loading times, 18x quicker than before. It also includes support for version control, allowing collaborative work on projects.&nbsp;</p></li>
 </ul>
</div> <p><b>Analyst QuickTake:</b> In <a href="https://sp-edge.com/updates/22212"> September 2023 </a> , Snap shut down its AR Enterprise Service (ARES) division, citing a lack of competitive advantage given the growth of GenAI tools. However, the company seeks to rectify this by imbuing its other AR services with GenAI tools, which includes the launch of its My AI chatbot in <a href="https://www.theverge.com/2023/4/19/23688913/snapchat-my-ai-chatbot-release-open-ai"> April 2023 </a> .</p>

Snap launches Lens Studio 5.0 Beta with GenAI AR content creation capabilities

<div>
 
 <ul>
  <li><p>Snap released Lens Studio 5.0 Beta, an AR development tool that includes GenAI AR content creation capabilities. It also introduces a ChatGPT Remote API for generating text-based content. Other improvements in the 5.0 Beta version include a GenAI-backed 3D face mask generator, faster project loading times, and support for version control.</p></li>
 </ul>
 
</div> <p><b>Analyst QuickTake:</b> In <a href="https://sp-edge.com/updates/22212"> September 2023 </a> , Snap shut down its AR Enterprise Service (ARES) division, citing a lack of competitive advantage given the growth of GenAI tools. However, the company seeks to rectify this by imbuing its other AR services with GenAI tools, which includes the launch of its My AI chatbot in <a href="https://www.theverge.com/2023/4/19/23688913/snapchat-my-ai-chatbot-release-open-ai"> April 2023 </a> .</p>

DISRUPTOR_PRESENT

<div>
 <ul>
  <li><p>Snap and Inspirit have partnered to bring augmented reality (AR) to classrooms in the US. The collaboration aims to develop 25 AR lenses and STEM curriculums for use in at least 50 schools. The lenses will include features such as helping students calculate the volume of a cylinder and interactive activities like tapping on bubbles. Inspirit has created a curriculum that combines the AR technology with a learning guide. Snap reports that 85% of students in its pilot program said that AR improved their memory and attention.</p></li>
 </ul>
</div>

Snap partners with Inspirit to introduce AR to US schools

Snapchat introduces new rewards program for AR Lens creators

Using AI to automate, enhance and optimize marketing activities

Marketing Automation

Tealium has introduced new first-party data activation capabilities with major media platforms such as Meta, Snap, TikTok, Twitter, Pinterest, Spotify, and Google. This integration allows brands to effectively restore signals and improve their connection with customers. Tealium's collaboration with Meta resulted in a significant increase in social media ad conversion rates and return on ad spend for tourism company TUI. Similarly, their work with media publishing company Dodo resulted in a boost in online sales and social media ad conversion rates. Tealium's customers have shown a 50% increase in adopting these capabilities in 2022, and further adoption is expected in 2023.

All Updates

Snapchat introduces new AR and GenAI tools to create interactive advertising experiences

Snapchat partners with Billion Dollar Boy and Influencer to leverage creator influence

Snap to receive USD 20 million grant to support California tech industry

Snap launches Lens Studio 5.0 Beta with GenAI AR content creation capabilities

Snap launches Lens Studio 5.0 Beta with GenAI AR content creation capabilities

Snap partners with Inspirit to introduce AR to US schools

Snapchat introduces new rewards program for AR Lens creators

Tealium partners with key social media platforms to strengthen ad conversion strategies for enterprises

Snap introduces AR mirrors for customers and launches tools to streamline AR asset creation