Top 8 Trending AI Stock Updates On Wall Street Today

2. Maplebear Inc. (NASDAQ:CART)

Number of Hedge Fund Followers: 60

Maplebear Inc. (NASDAQ:CART), doing business as Instacart, offers online grocery shopping and home delivery services through a website and mobile app.

On March 20th, Instacart announced a suite of new AI-powered automation tools to boost ad campaign performance to help brands realize their business goals. The tools include AI-powered landing pages, Universal Campaigns, product library improvements, and campaign recommendations designed to save brands time. For instance, Universal Campaigns, powered by machine learning, enables advertisers to create a single campaign with one budget that auto-optimizes across multiple ad formats, saving them the hassle of budget allocation and format optimization. Meanwhile, AI-driven landing pages enable brands to swiftly generate product showcases and custom copy for their brand destinations.

“At Instacart, we’re motivated to use the latest technology to help our brand partners succeed in an increasingly complex advertising landscape. As the retail media space continues to mature, brands face more choices than ever about where and how to reach consumers. We’re investing in AI-powered automation that can cut through some of that complexity – reducing manual setup and allowing advertisers to maximize performance aligned with their business objectives through automatic optimization across formats and placements. Ultimately, these innovations benefit consumers too, creating more personalized discovery experiences that help them find new products they’ll love. We’ve developed these tools hand-in-hand with our advertising partners, and we’re excited to see them drive meaningful growth for brands across the Instacart Ads ecosystem.”

-said Ali Miller, VP of Ads Product at Instacart.