The European Commission is working on draft legislation that would ban “high risk” AI applications or limit others that don’t meet criteria they establish. This would be first-of-a-kind legislation to regulate AI and is meant to protect against outside companies that have systems that could harm people by manipulating their behavior.
Needless to say, there are plenty of companies eager to sell retailers the technology they need. Cart.com, just founded in September 2020, is a new option, offering end-to-end ecommerce software, services, and infrastructure. They just raised $45 million over five months.
The probe will determine whether Facebook Ireland complied with its obligations.
Martech keeps taking larger bites out of marketing budgets: 17.3% last year, 19.9% this year, 23.5% next year, and 30.9% five years from now, according to the latest CMO Survey. This despite barely more than half (56.4%) of current tools being used and nearly half (48.8%) of the survey respondents reporting worse-than-expected results. Oddly enough, marketers rate selecting marketing technologies as the thing they do best.