8 min read

May 24 2023 - AI Wars

May 24 2023 - AI Wars

👋Happy Wednesday everyone. Remember the time before AI was a thing? Heh. Well, the AI wars are alive and well. All that and more below–

Quick Take

  • Google, Microsoft and Adobe launching AI tools/features on the same day across development, ad tools, content and search
  • Giphy is officially sold, Meta takes a $262M loss
  • Max makes it's US debut with over 35k hours of content
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Top Stories

Google has introduced new AI tools for advertising, including the ability to use text prompts to generate ad copy and testing new ad formats in its AI-generated search experience. The AI-powered ad creation tools now offer a natural-language conversational experience, allowing marketers to use chat prompts to build ads across the platform.

Publicis is increasing its investment in AI by acquiring a full stake in Publicis Sapient AI Labs, a research and development company focused on incorporating AI and data solutions for businesses. The company was initially launched as a joint venture with Elder Research and Tquila in 2020, but now Publicis will have full ownership. Through this acquisition, Publicis Sapient, a digital business transformation service, will be able to offer client services such as hackathons, fusion workshops, and training programs in areas like prompt engineering and large language model development.

Giphy is being sold by Meta to Shutterstock for $53 million in net cash. The acquisition adds a mobile content platform with 1.7 billion daily users and partnerships with global companies. Meta's decision to divest Giphy follows an order from the U.K.'s Competition and Markets Authority due to concerns about reduced competition. Shutterstock will fund the deal using available cash and its revolving credit facility, while Meta will maintain access to Giphy's content through an API agreement.

Microsoft has announced that it will integrate its Bing search engine into ChatGPT. This update will allow ChatGPT to provide real-time information to users instead of being limited to data before 2021. Microsoft's integration of AI into Bing has increased traffic to the search engine by 16%.

Max, the streaming service launched by Warner Bros. Discover, is now available to US subscribers, offering them access to 35,000 hours of content, more than double the amount provided by HBO Max. Existing HBO Max subscribers will be upgraded to Max automatically, while others can download the new app manually.

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Rundown
  • Pentagram partner Yuri Suzuki has designed a playful website called the Minimoog Factory to celebrate the 70th anniversary of the iconic Minimoog Model D synthesizer. The interactive website features an eight-room digital mansion where each room offers a different experience related to the synthesizer. Visitors can explore virtual rooms, adjust the sounds of the Minimoog Model D, learn about its history, and access various interactive features like creating Moog sounds using an Instagram filter. The website draws inspiration from early computer games and aims to provide a fun and accessible way to engage with the instrument's legacy.
  • Paramount has announced the launch date for the rebranded Paramount+ with Showtime service. The merged bundle will be available starting from June 27, following the leak of the date through an email sent to Showtime subscribers who paid for the service via Apple.
  • As the hype around Web3 and the metaverse declines, many brands are reassessing the role of the Chief Metaverse Officer, a position that emerged during the peak of metaverse marketing. Major companies like Disney, Procter & Gamble, LVMH, Gucci, Epic Games, and Crate & Barrel have seen shifts in their metaverse leadership. Some companies have seen officers leave their metaverse-focused roles, others have removed "metaverse" from job titles, and a few are continuing to invest in their metaverse initiatives. This reassessment is due to waning interest, unclear returns on investment, and the term "metaverse" acquiring negative connotations.
  • Adobe launches Generative AI inside of Photoshop
  • Microsoft's Xbox games will be available on the cloud gaming platform Boosteroid for the first time starting from June 1st. Users in the US, UK, European Union, and Ukraine will be able to stream titles if they purchase them from Steam or the Epic Games Store. This move makes Boosteroid the second external cloud service to offer Microsoft games, following NVIDIA GeForce Now. Microsoft has signed 10-year deals with cloud gaming providers, including Boosteroid and NVIDIA, as part of its efforts to gain regulatory approval for its acquisition of Activision Blizzard.
  • European luxury stocks, including LVMH, Hermes, and Kering, experienced a slump as concerns grew over a potential slowdown in US spending. The market value of the sector dropped by nearly $30 billion. The projections of an economic slump in the US have raised concern that Americans will spend less on luxury goods. Prior to the selloff, luxury stocks had performed well, driven by expectations of increased sales in China.
  • Activist investor TCS Capital Management, owning over 4% of Yelp's shares, is urging the company to consider strategic alternatives, including a sale. TCS Capital's president, Eric Semler, is set to propose that Yelp could sell for at least $70 a share, over twice its current value, to a technology or media company, private-equity buyer, or through a merger with online-services company Angi. Semler is also prepared to make a bid to acquire Yelp himself, possibly with a group that includes an experienced CEO from a similar industry. He suggests that a Yelp-Angi merger could double Yelp's shares' value and create a dominant player in the home services market.
  • Uber and Alphabet's Waymo have announced a partnership to offer rides in self-driving cars. Starting later this year, Uber will begin transporting passengers and making deliveries in parts of Arizona using Waymo's autonomous driving technology. The service will be limited to a specific area where Waymo operates. Users will be able to request Waymo's services through Uber's apps for ride-hailing and delivery. The partnership marks a reconciliation between the two companies, which previously had a dispute over self-driving technology, resulting in a settlement in 2018.
  • Peloton is undergoing a brand refresh and marketing campaign to position itself as an accessible fitness brand. The company's new Chief Marketing Officer, Leslie Berland, aims to move beyond Peloton's perception as an in-home bike company and showcase its broader offerings. The brand refresh includes a brighter color scheme, a new content feature called Peloton Gym on the app, and a marketing campaign featuring real customers engaging in various fitness activities. Peloton plans to invest in digital channels, TikTok, YouTube, Instagram, and creators for its marketing efforts.
  • Walmart Connect, the retail media network of Walmart, has announced a list of five creative agency partners to assist marketers using its self-service advertising tools. The partners named are VidMob, WhyteSpyder, Kaizen Ad, ItsRapid.ai, and The Mars Agency, and their services range from creative analytics to full-service shopper and commerce services. This initiative is intended to alleviate the challenges faced by smaller businesses in terms of ad creative. Although the focus is on smaller advertisers, the agencies are expected to aid advertisers of all sizes.
  • Universal Music Group UMG, the world's largest music company, is partnering with Endel, a generative music company, to incorporate AI in the creation of personalized soundscapes for new music and catalog recordings. UMG artists and labels will be able to use Endel's AI technology to create soundscapes for activities like sleep, relaxation, and focus.
  • Anthropic has raised $450 million in Series C funding, led by Spark Capital and with participation from investors including Google, Salesforce Ventures, Sound Ventures, and Zoom Ventures. Anthropic, a rival to OpenAI, will use the funding to expand its product offerings, scale its AI assistant Claude, and conduct research on AI ethics and safety. Claude, based on Anthropic's AI safety research, aims to provide reliable and transparent AI services.
  • Coinbase has launched a national TV ad as part of its "Update the System" campaign. Alongside, Coinbase will run regional ads in Washington, D.C. and  in New York, targeting lawmakers.
  • Comcast is launching a live TV streaming service called Now TV, offering 60 channels and a Peacock subscription for $20 per month. The service will be available only to Comcast Xfinity Internet customers as an add-on to their existing service plan. Now TV provides access to premium cable channels, 20 hours of DVR storage, and three simultaneous streams. However, it lacks local broadcast TV and sports channels. The move is seen as an attempt to compete with other streaming services and attract customers amidst Comcast's loss of subscribers due to cord-cutting.
  • Kraft Singles has revealed its first rebrand since 2018, which includes updated packaging, logos, and a product design modification. This is part of a strategy to attract Gen Z and millennial consumers. The rebrand, set to roll out throughout the year, features darker blue packaging and thicker typography. This rebrand comes amidst a dip in Kraft's sales, which fell 6.6% in the 52-week period ending on April 23.
  • Ocean Spray is focusing on brand partnerships for growth and expansion as the company recently announced collaborations with Hershey's and Absolut vodka. These partnerships follow trends of convenience and wellness, and help Ocean Spray venture into new categories like snacking and ready-to-drink cocktails.
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Published by:

Joe Nash

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