Bryce Hall, a McKinsey associate partner, recently shared an analogy he heard from a business leader about generative AI: “We’ve just opened Jurassic Park, but we haven’t yet installed the electric fences.”
Earlier this month, 26 global media organizations essentially announced that they weren’t waiting for electricians and contractors, and were instead establishing their own principles that they “believe should govern the development, deployment, and regulation of Artificial Intelligence systems and applications.”
Emphasizing that they embrace the opportunities AI technologies will present to both businesses and society, the organizations are calling for responsible development as they “also pose risks for the sustainability of the creative industries, the public’s trust in knowledge, journalism, and science, and the health of our democracies.”
Sale Ads Are The Best Drivers Of Awareness, Purchase For Digital Shoppers
Ads for products on sale are the most effective form of retail media advertising, with 51% of US digital shoppers saying they pay attention to them and 44% of digital shoppers saying they purchase from them, per Integral Ad Science.
Influencer Grows In Influence, Set To Top $34B In Marketing Spend
The global influencer marketing economy, which expanded 21.5% last year, is on track to grow another 16.9% this year, topping $34 billion in spending. The U.S., which accounts for more than three-quarters of the worldwide influencer marketing marketplace, is expected to expand its share — rising 17.6% this year to more than $26 billion, according to an annual update to PQ Media’s “Global Influencer Marketing Forecast” report.
Marketers’ Brand Safety Tactics May Not Be Enough
Brand safety is a hot topic in the marketing industry. In fact, over 80% of marketing professionals believe it’s a major concern, according to recently published findings by the Journal of Advertising Research. However, with new innovations like the metaverse raising fresh concerns for marketers and more mature platforms like X, formerly Twitter, falling into controversy, brand safety has become an even more debated topic. Plus, according to the Journal of Advertising Research’s findings, consumers are just as aware, even reporting that consuming ads near content considered even mildly negative could turn them off a brand.