Pinterest CEO Bill Ready says AI deserves credit for the “healthy” results reported by the social media company on Thursday.
For First quarter of the yearEnd of March 31, Pinterest had a global revenue of $ 855 million, 16% year-over year growth, while global monthly active users increased by 10% year-to-year to 570 million users. In the US and Canada, revenue rose by 12% to $ 663 million.
“Our business remains healthy, including our top-rich revenue growth,” on one. Earning call,
Ready stated that the use of AI’s Pinterest to tailor the user experience helped to separate it from the contestants. He called Pinterest a “shopping destination” with 85% of his monthly users, tapping in the app on mobile, increased by 2022 to 10%.
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“Our ability to take advantage of AI to personalize our users’ experience is a major discrimination and is able to find our best product market fit over the years,” Ready explained.
Pinterest CEO Bill Ready. Photograph through Getty Image by Patrick T. Fallon/AFP
Ready stated that AI helped run “deep engagement” among users through personal recommendations, which is a factor in more user signals, such as what they click. AI has enabled Pinterest to generate more revenue and become “an important partner” for advertisers, said Readi said.
Pinterest Makes money By selling promoted pin or post to advertisers. It also has a “buy” button that allows users to buy products directly from Pinterest instead of a separate site. The company is using AI in some capacity Since 2016,
Ready also said that call on earnings that Pinterest is using your AI better to understand users and predict advertisements that are best suited for them. The company has seen a 4% increase in click-wealth rates with these AI-inferior advertisements.
Ready said that one of the “core differentiation” of Pinterest is its visual discovery feature, which resonates with the company’s “largest and fastest growing” user base: General Z (birth from birth 1997 to 2012Pinterest has been tasked with the Matching Search Querry with the content from its library Billions of pinAnd it is using your AI to help personalize the search results.
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Pinterest Announced Earlier this week, it is releasing new AI-operated visual search equipment for women’s fashion materials in the United States, Canada and UK, which plan to expand more categories. Tool users allow users to find clothes without words, by choosing elements within a picture, like a pair of shoes or a special color.
Pinterest was Established in 2010 And acts like a virtual pinboard that users can cure with images, videos, dishes and other ingredients. It is one of the largest social media sites in the world, with More than 89 million User us.
Pinterest CEO Bill Ready says AI deserves credit for the “healthy” results reported by the social media company on Thursday.
For First quarter of the yearEnd of March 31, Pinterest had a global revenue of $ 855 million, 16% year-over year growth, while global monthly active users increased by 10% year-to-year to 570 million users. In the US and Canada, revenue rose by 12% to $ 663 million.
“Our business remains healthy, including our top-rich revenue growth,” on one. Earning call,
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