Episode 69: WPP's CTO spends over $300 million per year on AI
Apr 26, 2024
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Stephan Pretorius, WPP's CTO, discusses investing $300 million/year in AI. Topics include AI in marketing, challenges of one-to-one marketing, Google's cookie delay, tech launch challenges, TikTok acquisition speculation, and Palantir's data solutions.
Google delayed third-party cookies deprecation causing industry frustration.
Potential TikTok sale could impact ad revenue distribution and fetch steep price tag.
Deep dives
Google delays deprecation of cookies
Google has delayed the deprecation of third-party cookies for a third time, citing technical issues with latency and limitations to only work with GAM as an ad server. This move has caused frustration and uncertainty in the industry.
TikTok US potentially up for sale
The US government passes a bill placing pressure on TikTok to sell its US operations by January 19, 2025, which could fetch a steep price tag upwards of $100 billion. Potential buyers could include Walmart, Microsoft, or even private equity firms, while the disappearance of TikTok could impact ad revenue distribution among platforms.
Meta reports strong earnings but faces stock drop
Meta reports strong earnings with revenue of $36.46 billion, but faces a steep stock drop due to soft guidance for the year and concerns over doubling down on AI investments. The TikTok acquisition rumors did not positively impact Meta's stock performance.
Palantir selling data solutions to agencies
Palantir, known for its big data analytics solutions and government contracts, is now selling its platforms to agencies for use cases such as inventory planning and programmatic sales. While Palantir is a capable business, embracing emerging capabilities of new models and staying platform-agnostic is vital for innovation in agile industries.
How is WPP investing over $300 million per year on AI? Stephan Pretorius, the company's CTO, explains.
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