The Pinterest CEO, Bill Ready, says that AI deserves credit for the “healthy” results that the social media company reported Thursday.
For the first quarter of the year, which ended on March 31, Pinterest’s global revenues were $ 855 million, an increase of 16% year after year, while global monthly active users increased 10% year after year to 570 million users. In the United States and Canada, income grew by 12% to reach $ 663 million.
“Our business, including our first -line income growth, is still healthy,” Ready said in a profit call.
Ready said the use of Pinterest or AI to adapt the user experience helped differentiate it from competitors. He called Pinterest a “purchase destination” with 85% of users of their months taking advantage of the application on mobile devices, a 10% increase of 2022.
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“Our ability to take the AI to customize the experience of our users is a key differentiator and has enabled us to find our best product of adjusted products in years,” Ready explained.
Pinterest Ceo Bill Ready. Photo by Patrick T. Fallon/AFP through Getty Images
Ready declared that AI helped boost the “deepest commitment” among users through personalized recommendations that take into account more user signals, as in what they click. AI has allowed Pinterest to generate more income and become “a vital partner” for advertisers, Ready said.
Pinterest earns money by selling pins or publications promised to advertisers. It also has a “buy” button that allows users to buy products directly from Pinterest instead of a separate place. The company has been using AI in some capacity since 2016.
Ready also said in the gain call that Pinterest is using its AI for better users and predicting ads that adapt more suitable to them. The company has seen a 4% increase in click rates with advertisements recommended by the thesis AI.
Ready added that another of Pinterest’s “central differentiators” is its visual search function, which resonates with the user base “larger and faster faster” of the company: GEN Z (born from 1997 to 2012). Pinterest has the task of matching the search consultations with content of his library of billions of pins, and is using his AI to help customize the search results.
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Pinterest announced earlier this week that it will launch new visual search tools with AI for the women’s fashion content in the United States, Canada and the United Kingdom, with plans to expand to more categories. The tools allow users to search without words, selecting elements within an image, such as a couple or shoes or a private color.
Pinterest was founded in 2010 and works as a virtual panel that users can cure with images, videos, recipes and other content. It is one of the world’s largest social media sites, with more than 89 million US users.
The Pinterest CEO, Bill Ready, says that AI deserves credit for the “healthy” results that the social media company reported Thursday.
For the first quarter of the year, which ended on March 31, Pinterest’s global revenues were $ 855 million, an increase of 16% year after year, while global monthly active users increased 10% year after year to 570 million users. In the United States and Canada, income grew by 12% to reach $ 663 million.
“Our business, including our first -line income growth, is still healthy,” Ready said in a profit call.
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