Icon AI, a new AI-powered ad creation platform, has been launched, promising to revolutionize the $600B+ ads industry by enabling the creation of winning ads in minutes. Backed by Peter Thiel's Founders Fund and executives from AI labs such as OpenAI, Pika, and Cognition, Icon AI combines the capabilities of ChatGPT and CapCut to offer a comprehensive solution for ad making. After 10+ years in digital marketing, the founder believes Icon AI is a game-changer. The platform allows users to tag scenes from their video library, which are then used as reusable clips for ad creation. Icon AI's AdGPT feature generates ads that are 80-99% complete, which can be further refined using AdCut. The tool is said to replace multiple services, including scriptwriting, video editing, and creative storage, potentially saving users between $2,000 to $30,000 monthly. Companies like Ridge and Obvi have reportedly used Icon AI to create viral ads, showcasing its effectiveness in the market.