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IT and Media news week 30.

The Week That Was: IT and Media news week 30

The rapid deployment of artificial intelligence (AI) in the media industry is an unprecedented challenge, Reporters Without Borders (RSF) said when launching an international committee to develop a charter regulating the use of AI in media. The committee will be chaired by Nobel Prize laureate Maria Ressa. The committee is to present its result before the end of the year.

Tech companies Google, Microsoft, Open AI and Anthropic have announced a joint effort to ensure safe and responsible development of artificial intelligence. “The Frontier Model Forum, a new industry body focused on ensuring safe and responsible development of frontier AI models”, the companies say in a statement.

Growth in digital audio advertising continues with momentum, according to advertising giant Group M’s This Year Next Year 2023 mid-year forecast. The sector grew 19.4% in 2022. IAB Europe projects the European digital audio market, which stood at €772 million in ad spend in 2022, will surpass the €1 billion mark by 2025. 

Artificial intelligence has the potential to bring “significant benefits” to sectors like agriculture, education and healthcare but risk professionals say better regulation is needed, according to a new report from World Economic Forum. A survey by market research firm Gartner shows that 52% of companies using AI report that risk factors are a critical consideration when evaluating new AI use cases.

Podcasting has for years been seen as a business with great potential but lately, there have been signs that the prospects for podcasting are being downgraded. There is a growing trend to add video to the podcast to get extra reach via for instance YouTube. Spotify has after years of impressive investments in podcasts recently fired hundreds of staffers at its podcast business and cancelled expensive agreements with Prince Harry and Meghan Markle to podcast for the company. The company has just announced it is raising the price of its single-account premium plan for the first time since 2011.

Too big to ignore but its future is far from certain: This is the metaverse! It could generate USD 4 trillion – 5 trillion in value by 2030, consultancy McKinsey estimates. It could in ten years contribute 2.8% to global GDP, estimates consultancy Analysis Group in a study commissioned by Meta. Impressive potential, but the true metaverse is still a long way off. 


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