It's time to be realistic about AI in marketing AI is excellent at predicting, uncovering consumer insights and performing tasks like summarization, but is average at best at creative ideation and writing because it lacks human originality, writes Napier CEO Mike Maynard. "'Average' is not what we're aiming for," Maynard writes, adding, "People who use and exploit AI for its numerous actual capabilities rather than overhype its capabilities will be the winners in this new world of AI-augmented marketing." Full Story: Forbes (tiered subscription model) (9/25)
Instagram announced a new sonic identity for its Reels section yesterday. It describes the sound as "simple and iconic", but some users are hearing something else, and they may have a point. Full Story: Creative Bloq (9/25)
Photos: Inside a $1.29M Ohio farmhouse Jenny Winters and Erika Mitschke of The Agency are co-listing agents for this 1870 Ohio farmhouse, currently on the market for $1.29 million. The 2.5-acre property features four bedrooms and six bathrooms. Full Story: Cleveland online (9/27)
Technology & Innovations
Chatbots give more wrong answers, even as accuracy rises New, larger versions of OpenAI's GPT, Meta's LLaMA and the open-source BLOOM generative AI models are more likely than their predecessors to generate incorrect answers than to say they cannot find an answer, and people using the chatbots cannot always discern good from bad answers, according to a study in the journal Nature. The larger versions have been refined and are more accurate overall, but the percentage of wrong answers among those that are inaccurate has increased, and they still produce incorrect answers to relatively easy questions, says researcher Jose Hernandez-Orallo. Full Story: Nature (9/26)
Cyberrisks were the leading concern for businesses in the 2024 Travelers Risk Index, with 62% of surveyed executives calling it their greatest threat for the fourth consecutive year. Following cyberthreats, other significant concerns included medical cost inflation, increasing employee benefits costs, economic uncertainty, and talent retention. Full Story: Business Insurance (9/24)
U.S. soft landing challenges persist despite rate cut Despite the Federal Reserve's recent interest rate cuts, the U.S. economy faces challenges in achieving a soft landing. Bank lending has slowed significantly and even with lower rates, firms and households might still be cautious about borrowing as they will still face higher rates. This cautious approach is particularly evident in the housing market and commercial real estate, where refinancing difficulties could lead to higher loan defaults if significant rate cuts do not occur soon. Full Story: The Wall Street Journal (9/27)
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