The Cannes Lions festival sees media and tech executives addressing the chaos AI brings to the advertising industry, including mass job cuts at major agencies. As WPP's CEO announces his departure, he assures staff of a confident transition into an AI-driven future. Meanwhile, Omnicom and IPG’s proposed $13 billion merger aims to create a technological powerhouse that can exploit new innovations. The industry's shift toward automation is reshaping how advertising is created and deployed, indicating a crucial transformation period is underway.
The talk of the town is what one veteran media exec frames as the "insane chaos and disruption" that AI is beginning to unleash as major ad agencies slash thousands of jobs.
WPP CEO Mark Read revealed his intention to depart, reassuring staff that "we are now leading the way as AI transforms marketing" and that the company is prepared for the future.
Omnicom and IPG are lurching toward a $13 billion megamerger, creating an ad giant that will be "poised to accelerate innovation and harness the significant opportunities" from new technologies.
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