Digital Advertising, Generative AI, and Tik Tok Under Pressure

As the weather changes and Women’s History Month comes to a close, stay up to date with the latest in customer engagement here.

1. The Digital Advertising Market May Exceed $500 Billion by 2025

That’s billion, with a “b.” In a recent report, CEI writer Phillip Mandelbaum analyzes the importance of digital ads. Not only do they have the ability to increase brand awareness by 80% and produce a 200% ROI, but consumers are up to 155% more likely to search for brand-specific terms after seeing a display ad.

Mandelbaum further argues that spending the entire budget on a new AI director may not be the best move for your business, going on to say, “Indeed, distribution is critical to any digital marketing strategy—and any digital advertising remains an essential element to reaching your target audiences.”

To learn more about the digital advertising landscape and the most effective ways to advertise, read more in the CEI Report: The Ultimate Guide to Digital Advertising.

2. Google and Ex-Google Alike Invest in Generative AI

Character.AI, a startup that allows you to create ‘characters’ and talk to them, announced on March 23^rd that it had raised $150 million in a recent funding round aimed to support the ex-Google-founded-company.

These generative AI companies, similar to the likes of ChatGPT by OpenAI, are building Large Language Models (LLMs), learning language skills by analyzing data and communication across the internet. Interestingly, as New York Times reporter Cade Metz points out, “Venture capitalists are jockeying to invest in the young AI companies even as the rest of the tech industry struggles through layoffs, plummeting valuations, and an unexpected banking crisis prompted by the failure of Silicon Valley Bank.”

It seems as if nothing can stop these powerful systems capable of writing term papers, summarizing articles, and conversing in a “human” way. Read more about Character.AI and its competitors in the New York Times article: “Chatbot Start-Up Character.AI Valued at $1 Billion in New Funding Round.”

3. Tik Tok CEO Shou Zi Chew’s Lengthy Testimony

After hours of the CEOs testimony in front of congress Thursday morning, the 150 million US Tik Tok users are questioning how much longer they will be able to use the application.

The hearing comes after increasing fear regarding the ability of the Chinese government to view and use data on TikTok to promote misinformation and propaganda.

Though Chew argued that TikTok and its parent company, ByteDance, prioritize the safety of young users, his audience was skeptical. As reported by AP News, some listeners claim his “lack of concrete answers about data access and security was a ‘disaster’ and likely set the stage for a ban.”

Others put the blame on the lawmakers instead of the CEO, though, stating that the congress was not listening and, instead, was grandstanding.

Either way, this is a riveting debate that is not likely to end any time soon. To learn more about the trial and what is to come in the AP News article by Tammy Webber, “TikTok CEO Shou Zi Chew: 3 Things to Know.

Image Sources (in order of appearance)

Photo by Alex Knight on Unsplash

Photo by Joshua Earle on Unsplash

Photo by Nathana Rebouças on Unsplash

Photo by Solen Feyissa on Unsplash