The head-spinning pace of development in the generative AI space continues. Latest news is Google Cloud offering API access to its foundation AI models, which will enable developers to easily embed them within their own products. Separately, Google announced it is offering test versions of AI-based features such as image generation, copywriting, and categorization in Gmail, Docs, Sheets, and other productivity tools.
Across APAC, the majority (79%) of brands still rely heavily on third-party cookies, with over half (56%) of leaders expecting the end of third-party cookies will hurt their businesses. Currently, 52% of APAC leaders still spend at least half of their marketing budgets on cookie-based activations – and 79% actually plan to increase spending on cookie-dependent activations this year.
Private equity buyers continue to take advantage of perceived bargains among public martech vendors. The latest deal with a $4.6 billion purchase of event management software vendor Cvent by Blackstone. Cvent has changed hands more often than a 2002 Toyota, originally going public in 2013, then being purchased by Vista Equity Partners in 2016, and going public again in 2021.
The U.S. Department of Justice has formally requested the sale of the Chrome browser among other measures following last August’s guilty verdict in its search advertising antitrust suit (not to be confused with last week’s guilty verdict in the adtech antitrust lawsuit). Google is asking for a much narrower focus on deals to be the default search engine for Apple, Mozilla and others. There will be a three-week hearing on the government’s proposals.