Meta Platforms is set to fully automate ad creation using artificial intelligence by the end of next year. The new system will allow brands to generate ads from scratch, including imagery, video, and text, while automatically targeting users on Facebook and Instagram based on budget goals. This initiative aligns with CEO Mark Zuckerberg's vision for the company's future and is crucial for generating revenue from advertising.

Artificial intelligence is transforming the advertising industry, with major players like WPP investing heavily in AI tools to stay competitive amid threats from big tech companies like Meta and Google. The rise of AI-generated advertising raises concerns about job displacement and the erosion of creativity within agencies, prompting a need for restructuring and adaptation to new client expectations. Despite these challenges, the overall employment and spending in the UK ad sector remain strong for now.

Meta Platforms' shares jumped 11% after the company forecasted third-quarter revenue exceeding analysts' expectations, driven by advancements in artificial intelligence for its advertising business. Despite rising capital expenditures and scrutiny over its aggressive AI spending, investor confidence remains bolstered by the company's commitment to AI development.