The Week That Was: IT and Media news week 31
EU’s tech development is too slow! It is not on track to achieve the digital objectives and targets for 2030, according to EU Commission analyses. Additional European investments are needed especially for digital skills, high-quality connectivity, uptake of AI, semiconductor production and start-up ecosystems.
The global entertainment and media industry’s advertising revenues will top $1 trillion in 2026, with revenues in 2028 being double the revenues of 2020. The industry is looking to Generative AI to drive new revenue streams and transform business models, according to consultancy PwC’s 2024-28 outlook for the industry.
Recent reports show contradicting expectations of what it will mean to have AI-tools at the job: 49% expect it will mean higher salaries and 70% hope genAI tools will make them more creative. But two researchers say studies show that employees using AI tools feel more lonely, drink more and have difficulty sleeping.
Global advertising is forecasted healthy growth in 2024 but one big forecaster warns that both AI development and political regulation can change the market. Global advertising revenue will grow 7.8% in 2024 to $989.8 billion, marketing giant Group M says in its half year forecast. Marketing firm WARC says social media is now the largest advertising channel worldwide having overtaken paid search and is forecast to total $247.3 billion this year, up 14.3% year-on-year.
Women are a force in artificial intelligence. Men still outnumber women, but over the past four years, the share of female AI talent has increased significantly, data from World Economic Forum shows. Since 2016, the concentration of women working in AI engineering has grown significantly, according to Microsoft-owned LinkedIn’s data.
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