Yelp Uses AI For Smarter Ad Optimization, Performance For Local Businesses
Yelp has introduced more than 20 features to support local businesses, focusing on using artificial intelligence (AI) to simplify ad setup and optimization and create comparison tools.
Craig Saldanha, Yelp chief product officer, believes AI has enabled the company to make it easier for businesses to advertise and buy media -- and in the process, change the way people discover and connect with them.
Smart selection, for example, is a free AI-powered tool to help Yelp advertisers automatically test the best reviews and photos to showcase or build out ads, optimizing content for the highest return on ad spend (ROAS).
A competitor measurement tool for business owners who advertise can find it on the Yelp for Business home page. It compares their Yelp page performance with up to three competitors of their choice, helping to better inform their growth strategies.
Yelp’s integration of AI into ad optimization is a prime example of how free-market innovation can empower small businesses and enhance competition. Conservatives recognize that tools like these, which streamline advertising and improve efficiency, allow local businesses to compete more effectively against larger corporations. By reducing barriers to entry and making advanced technology accessible, AI-driven platforms uphold the principles of economic freedom and entrepreneurship. However, it’s crucial to ensure that these technologies operate transparently and avoid stifling competition through monopolistic control or biased algorithms. Innovation thrives best in an environment of accountability and fair competition, where businesses and consumers both benefit.
~Political Media