AI is Transforming Markets At Scale
AI will cause massive dislocations in markets: "For example, companies can create entire scenes using AI instead of spending money on resources like film crews and transportation, says Mark Read, CEO of ad agency WPP. " It seems no sector could be exempted. If you want to know how to prepare for the AI future, attend Tekedia AI in Business masterclass here. AI is powering the Magnificent Seven, which comprises Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, and Meta.
Advertisements are getting the AI treatment. Major brands including Nestle and Unilever are starting to use generative artificial intelligence to create ads — a method that can be 10 to 20 times cheaper than traditional ad campaigns, one advertising executive tells Reuters. For example, companies can create entire scenes using AI instead of spending money on resources like film crews and transportation, says Mark Read, CEO of ad agency WPP. Still, many companies remain cautious of risks associated with AI-generated content, such as potential biases and copyright infringement. As advertisers rely more heavily on AI, some jobs will be displaced, but new ones will also be created, Read says.