Meta’s “set it and forget it” AI ad tools are misfiring and blowing through cash

This just in: tool developed by company who makes money from ad spending tries its best to spend as much as possible on ads regardless of effectiveness.... more at 11.

This is the best summary I could come up with:

RC Williams, the co-founder of the Philadelphia-based marketing agency 1-800-D2C, had set one of Meta’s automated ad tools to run campaigns for two separate clients.

“Meta’s unwillingness to be transparent or accountable with the performance issues and glitches is causing mass uncertainty,” Karl Baker, founder of meditation startup Mindfulness Works, wrote in a message to The Verge.

To create an ad campaign, advertisers upload their creative assets, pick their conversion goals (e.g., getting more customers to make purchases on Instagram), and then set their budget caps.

“We have a couple of clients for whom we completely stopped Advantage Plus due to these anomalies,” said Aniruddha Mishra, director of growth at Miami-based digital marketing agency Node Media.

With Advantage Plus shopping campaigns, Meta promised that AI and machine learning models could effectively replace the big gaping hole left by Apple’s privacy update.

But online advertisers would be effectively handing the reins over to Meta and no longer have access to the granular targeting controls and detailed analytics they did prior to Apple’s privacy changes.

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Oh yeah, its all coming together.

*publicist cash