The Week That Was: IT and Media news week 21

 The Week That Was: IT and Media news week 21

Almost half (49%) of newsrooms are using tools like ChatGPT but only 20% have management guidelines on when and how to use GenAI tools, according to a survey of 100 media companies around the world made by publisher organisation WAN-IFRA and Schickler Consulting. 70% said they expect Generative AI tools to be helpful

Digital advertising spend in Europe increased by 9.8% last year to achieve a market value of €86bn. Despite the economic and political headwinds in Europe, €7.7bn was added to the digital advertising market total in 2022, according to IAB Europe’s AdEx Benchmark study. Market research firm Insider Intelligence says US social ad spending in 2023 will grow at its slowest pace yet.  

Stressing the importance of data protection, Ireland’s Data Protection Committee has ordered Facebook and Instagram-owner Meta to pay the largest fine imposed under the EU’s General Data Protection Regulation (GDPR). The company has been fined Euro 1.2 billion for mishandling people’s data when transferred between Europe and the US. 

For the first time in over five years, the aggregate value of European unicorns has fallen as the number of €1 billion-plus startup companies stagnates, financial data company PitchBook reports. Most of the world’s unicorns last year were active in the software industry. Over 760 unicorns were active in this industry, according to market research firm Statista.


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