At Cannes, the ad industry contemplates its AI future with a mix of hope and fear [Yahoo! Finance]
Victorias Secret & Co. (VSCO)
Company Research
Source: Yahoo! Finance
Riviera to sip rosé, hand out awards, and talk about the future. This year, AI was top of mind for many attendees, as it has been for executives in almost every industry since ChatGPT debuted in November 2022. As with those in other industries, creative agencies want AI—but they want it on their own terms. At Cannes, many of the world's biggest agencies—WPP, Publicis, Havas, and Dentsu—announced plans to use AI. Some of these agencies say AI is already helping them to mock up campaigns and storyboard spots. Some are using AI models to test ads—predicting their likely impact on different audience segments. And some are using the technology to create full campaigns. But agencies' race towards AI is driven as much by fear as it is by opportunity. AI may let brands bypass them entirely and use AI to design their own campaigns. At the very least, they worry AI will challenge a business model in which the agencies traditionally charged based on people hours. In a world where generative
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VSCO
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- 6/5/24 - Beat
VSCO
Sec Filings
- 6/14/24 - Form 4
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