AI in the agency landscape

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1. AI in the agency landscape

Generative artificial intelligence (GenAI) is transforming the agency landscape, automating tasks like ad copy creation and background removal. However, concerns about data privacy, intellectual property, and accuracy persist. Noah Brier, founder of BrXnd.ai, notes that many brands and agencies are in the early stages of adopting AI tools. Intellectual property concerns, particularly regarding training data and outputs, are significant hurdles. Moreover, some organizations focus narrowly on AI’s outputs, overlooking its potential as a strategic input.

Generative AI also has pitfalls. Chris Matthews of Very Small Robots, LLC, warns that unchecked AI-generated content could mislead audiences, exacerbating misinformation. Rachel Jordan, Head of Marketing at TeachFX, highlights another challenge: oversaturation. As AI simplifies content creation, markets could become inundated, leading to audience burnout and diminishing campaign impact. Lowell Orelup discusses the impact of AI on talent acquisition. As AI reshapes the agency landscape, recruitment will transform. Skills centered around AI proficiency will become crucial, but intrinsic human qualities, especially leadership and analytical capabilities, will remain invaluable.

Brier views AI as a catalyst that amplifies human creativity but warns against complacency. While AI can produce average content at minimal costs, agencies must strive for excellence, resisting mediocrity. As the generative AI wave grows, agencies face a shift towards video content, lower content creation barriers, and a surge in diverse content forms. Small and medium agencies, equipped with AI tools, can now compete with larger counterparts. Amidst this change, the importance of intangible qualities remains. The essence of a brand, its core values, and ethos are touchstones of authenticity. Platforms like Brandguard.ai underscore the symbiotic relationship between AI and human expertise.

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2. UK government invests in AI-powered poultry gut monitoring

The UK government is investing in a new approach to detect infection and anti-microbial resistance in broiler precision farming. Part of an £11.5 million investment, the approach involves monitoring the gut microbiome using artificial intelligence and omics technologies. Dr. Tania Dottorini, an associate professor in bioinformatics at the University of Nottingham, leads the project. Dottorini's research focuses on developing novel informatics, machine learning, and AI solutions to understand and diagnose infectious diseases in both animals and humans.

Her recent research involved studying antimicrobial-resistant E. coli bacteria and antimicrobial resistance genes (ARGs) in a large-scale commercial poultry farm in China. The funding stream, developed in conjunction with academia, industry, and policymakers, aims to deliver innovative on-farm solutions that will mitigate the impact of endemic diseases on the UK livestock sector. The initiative heavily emphasizes digital agriculture and machine learning.

Christine Middlemiss, UK chief veterinary officer, welcomed the funding, stating that it brings together farmers, vets, and researchers to develop and test new solutions to some of the most serious animal health challenges on the farm. The initiative is expected to lead to ground-breaking achievements in disease control, fostering a healthier and more productive livestock sector.

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3. AI in fine dining

AI is making inroads into the fine dining industry, offering automation for tedious tasks such as inventory tracking, sales forecasting, and food safety compliance. However, concerns arise about the erosion of time-honored traditions in kitchens and dining rooms.

"Restaurants, especially in fine dining, are typically resistant to technology," said chef Jenny Dorsey, head of Studio ATAO. "It's a human-driven industry, so the actual value and usefulness of AI versus the difficulty of adoption is an equation that isn't totally solved yet." Despite this resistance, some restaurants have already adopted AI for tasks like inventory tracking and food safety compliance.

AI's potential to create hyper-customized menu and wine recommendations for customers is met with skepticism by some chefs. Eric Ripert, chef and co-owner at New York City’s Le Bernardin, finds this application of AI disturbing. "It's also a lack of emotional connection with the client. It's automatic and artificial. It doesn't have the emotional sensor that humans have," he said.

Concerns also exist about AI-powered reservation platforms discriminating against diners. Jay Hack, an attorney at Gallet Dreyer & Berkey LLP, speculates that facial recognition software used in other industries could find its way into restaurants. "If the same model is applied in the restaurant business that banks use to deny credit, that information about a guest could inevitably be used for discriminatory purposes," Hack added.

Despite these concerns, some chefs see AI as a tool that can be used to enhance the dining experience. "A computer can hold a volume of information that the human brain cannot and can offer more choices faster," said Dorsey. "It's up to us to evaluate the choices the AI provides.

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4. Dubai's ambition to become the global AI capital

Dubai, known for its luxurious lifestyle and towering skyscrapers, is setting its sights on becoming the AI capital of the world. The foundations for this ambitious goal are already being laid. In 2017, the UAE became the first country to appoint a Minister for Artificial Intelligence. Since then, Dubai's business-friendly tax and regulation system has attracted a wave of ambitious tech entrepreneurs. According to the Dubai International Financial Centre (DIFC), more than 40 tech firms established a presence in Dubai in 2022. The city also ranked first in the world for attracting greenfield foreign direct investment (FDI) in both 2021 and 2022, with an impressive US$23 billion pouring into the city in 2022 alone.

The DIFC has announced plans to establish an "AI and Web3.0 Hub," aiming to attract 500 tech businesses by 2028. The hub is described as a "catalyst for growth" that will attract "global innovators, startups, venture capitalists, and industry leaders," according to Arif Amiri, the Chief Executive of the DIFC Authority. Dubai is also set to host a key generative AI assembly in October, bringing together public and private organizations to discuss emerging technology and its potential.

The UAE has been investing heavily in AI, with $73 million invested in 2020 and predictions that the AI market across the Emirates will reach $1.9 billion by 2026. Dubai's strategic shift towards AI could position it as a leader in the AI race. However, the path to success is not guaranteed. The rest of the world is acutely aware of the potential of AI, and the current leaders in the sector, such as OpenAI, are still based in established tech hubs like Silicon Valley. Dubai is a newcomer to the race and faces a steep hill to climb. However, with its strategic location, entrepreneurial atmosphere, ambition, and regulatory environment, Dubai has all the ingredients needed to succeed in the AI space.

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5. Generative AI enters into estate planning

Generative artificial intelligence (GenAI) is making its way into the field of estate planning and family offices. GenAI replicates human intelligence and leverages the power of computers, data, and machines to mimic problem-solving and decision-making capabilities. This technology can be a powerful tool for streamlining work product, such as reviewing and summarizing complex estate-planning documents and asset compilations, and drafting documents.

However, there are concerns about data privacy and the accuracy of AI-generated documents. Advisors must pay special attention to data privacy considerations when providing confidential client information to AI platforms. Studies indicate that there are considerable risks associated with data collection, including the usage of data for non-intended purposes. Moreover, AI-generated documents should be thoroughly reviewed and edited prior to use, as poor accuracy is one of the issues making law firms wary of GenAI.

Despite these concerns, AI can be used to simplify complex tax and estate-planning concepts. For example, GenAI software can provide simplified explanations of legal jargon, making it easier for advisors to explain sophisticated concepts to clients.

While GenAI software is a developing tool that can contribute to the productivity and efficiency of family office and estate-planning professionals, it is important to remember that some conversations and tasks require a discrete and human approach. Clients and advisors alike should maintain an open mind to the possibilities of GenAI technology while remaining attuned to the security and sensitivity of their practice. Ultimately, human relationships are crucial in estate planning and family offices, and a machine cannot replace them.

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