Snapchat Aims to Spend $1.5 Billion Per Year on AI

The CEO of Snap, developer of Snapchat, says the messaging platform is increasing its spending on artificial intelligence (AI) and machine learning.“There was a recognition that we’d fallen behind the curve on the machine learning side, which, to some degree, was reflected in the business performance,” Evan Spiegel said in an interview with Bloomberg News published Sunday (May 19).“We needed to improve there and bring together some of our most senior machine learning folks to just talk about what it would l ...