The Week That Was: IT and Media news week 26

Global entertainment and media  revenues will grow every year through 2027 – creating a USD 2.8 trillion industry  but the rate of growth will decline every year. Advertising revenue will approach USD 1 trillion in 2027. Gaming remains a key driver of industry growth with global gaming revenues of USD 312 billion by 2027, consultancy PwC says in a forecast. 

The global advertising market will continue to grow with adspend growth 2024 forecasted to reach 6.9% and 4.8% in 2025. Global advertising expenditure 2023 is estimated to grow 4.4%, down from 4.5% in previous forecast, media agency Zenith predicts. Advertising giant Group M recently forecasted that global advertising will grow 6% in 2024 and 5.9% in 2023.

AI chatbots are filling junk websites with AI-generated text that attracts paying advertisers. The practice threatens to hasten the arrival of a glitchy, spammy internet that is overrun by AI-generated content, as well as wasting massive amounts of advertising money, MIT Technology Review reports. More than 140 major brands are paying for ads that end up on unreliable AI-written sites, likely without their knowledge.

AI-enabled healthcare, using the metaverse for mental health care and flexible batteries powering wearable medical devices, are on World Economic Forum’s annual report on top 10 emerging technologies. It includes environmental innovations, such as sustainable aviation fuels and wearable plant sensors and the power of AI to reengineering molecular biology.