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At its 2024 TikTok World product summit, the fourth of its kind, the popular video content and social media app announced updates to its marketing tools to enhance ad efficiency on the platform, and unsurprisingly, AI took center stage.
The new AI-powered ad suite, TikTok Symphony, offers up all the usual benefits of generative AI, including tools for script writing and video production.
With the launch of Symphony, TikTok adds fuel to its social media battle as it plays catchup with the likes of Meta and Google, which are also going all-in on AI-enhanced ads.
TikTok launches new AI-powered ads suite
To support the app’s nature of short-form video content, often produced by influencers, the company also lifted the wraps off TikTok One. This new hub serves as a central destination for advertisers to find the app’s nearly two million creators as well as agency partners.
Earlier this year, the ByteDance-owned app shared information about the staggering number of businesses it has supported through online shopping and educational content in a bid to prevent a potential US ban. Some of this information was reiterated at the summit –three in five (61%) users have made an online purchase through the app, while around half (52%) have researched car features, highlighting TikTok’s influential position in making large purchase decisions.
Alongside Symphony, TikTok is using machine learning to automate the pairing of brands with the right creative assets and audiences based on things like budgets and desired outcomes.
One day before its product updates, the company also launched the Change Makers Program, recognizing the efforts of 50 creators and donating $1 million to over 30 nonprofits.
Despite the progress, TikTok continues to face uncertainty in the US, while governments and agencies all over the world continue to express similar concerns.
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