July, 2023 - CDP Institute - Page 4

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Dates : July 2023

Growth in the CDP industry slowed to a crawl in the first half of 2023, according to the CDP Institute’s latest Industry Update report. Net employment, funding, new vendors and growth among previously listed vendors all fell to record or near-record lows. Still, some firms are doing fine: 20% of the firms listed had an estimated employment increase of at least 10%.

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We think that one reason industry growth has slowed is the near-total loss of early-stage venture funding. But we could be wrong: this Capchase analysis of 900 SaaS businesses finds that self-financed companies grow just as quickly as venture-backed firms. They also report that, whatever the gurus say, the best performing companies focus new customer acquisition not retention. Interesting.

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No one ever said that AI is easy, although they sometimes leave that impression. This Altair survey sets the record straight: 55% of respondents report that at least one-third of their AI projects have failed to reach production in the past two years. Lots of interesting reasons (messy data is high on the list), and even more interesting regional differences. Perfect beach reading.

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We haven’t written much about retail media recently, Dear Reader, and I’m sure you miss it. So I’ll share that IPG Mediabrands has launched a “unique tech platform” that brings together retail media audience, measurement, optimization and intelligence to give brands a unified picture of how all their retail media investments are performing. Are you quivering with delight or is the air conditioning too high?

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You could certainly argue that we’ve written too much about generative AI, but there’s a lot going on. Today we’ll note that Microsoft has launched Bing Chat Enterprise, which is a really silly sounding name if you think about it. The big draw is making sure that company data isn’t shared with anyone else, which has quickly emerged as a major concern.

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We can never write enough about how companies are using customer data. This Acxiom study covers the topic in depth. It has the added virtue of saying that almost everybody does it poorly, which should make you feel great, Dear Reader, since I know you’re the exception.

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Adobe is updating its FireFly AI image generator with more language support. The company has announced that the generative AI model now supports support text prompts in over 100 languages, including eight Indian languages, including Gujarati, Hindi, Malayalam, Marathi, Nepali, Punjabi, Tamil, and Telugu.

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Google Cloud recently announced a strategic partnership with the Kuwaiti government to implement a comprehensive digital transformation roadmap across government bodies and state-owned enterprises. The two will team up to digitize citizen services, boost employee productivity, and implement digital transformation initiatives in healthcare, education, disaster recovery and smart living.

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U.S. cybersecurity company SentinelOne is boosting its offerings in India. The company announced the launch of a virtual data centre in Mumbai that will enable Indian companies, which rely on SentinelOne to shield their business from cyberattacks in a simple, compliant way.

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Google, Facebook and the Australian government have come to agreement whereby the tech companies will pay local publishers when their content appears online – with the caveat that it only applies when content is intentionally uploaded. This is an ongoing issue being negotiated globally and follows Facebook having shut down news content to users in Australia and in Canada. Meanwhile countries are looking to try to keep companies’ power in check.

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Australia’s Finance Sector Union (FSU) has called out Westpac, one of Australia’s big four banks, for conducting a series of staff firings over the last two months, while at the same time reporting that the bank had a 22% surge in six-month net profits of over $4 billion. In that time, the bank laid off 751 people across many departments, claiming it needed to “cut costs during difficult economic times.”

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Carousell has partnered with car-as-a-subscription company Carzuno to offer the ‘Carousell Car Subscription’ in Singapore, a fully digital service that allows users to choose and return their automobile without leaving their homes, leveraging the recently announced Carousell Certified program for cars.

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