Snap Inc. Launches Advanced AI-Powered AR Tools Amid User Growth

Snap Inc. has launched advanced generative AI tools to enhance its augmented reality (AR) capabilities, which are expected to increase user engagement and attract new users. The new version of Lens Studio significantly reduces the time required for developers to create complex AR effects, now achievable in hours instead of weeks. These tools include an AI assistant, capabilities for generating 3D images from text prompts, and more realistic lenses that match motion and lighting. Snap reported a 10.2% year-over-year increase in daily active users (DAU), reaching 422 million in Q1 2024, with projections of further growth. CEO Evan Spiegel highlighted the transformative potential of AR in computing and its significant impact on user engagement and monetization opportunities.