As the onslaught of ChatGPT and the other LLMs continues, I would like to offer a more strategic approach. Introducing the updated guide to help you leverage AI in marketing, strategy, brand, media, creative, design, advertising, content, and beyond... 💡 What's new in V1.5? 🌟 - Updated experiments, including gpt4 and Bard. - Some new guidelines and ideas. - New MJ5 illustrations and more! Get ready to dive deep into the world of ChatGPT and other large language models, don't get lost in the hype. 🧭 Check out the guide, join the discussion, and please share your own discoveries! 👩💻👨💻 #ChatGPT #AI #LanguageModels #Marketing #Strategy #gpt4 #bardai
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Oh look, right again. (about Copilot not being ready for primetime and being overpriced and disappointing, I'm not laying into AI)
“A pharma company stopped using Microsoft's Copilot AI tool, with an exec citing high cost and low value.” “He compared the slide-generation capability of Microsoft's AI tools to middle school presentations, according to a transcript of a call with the Morgan Stanley analysts that was included in their research note.” “The chief information officer of a pharma company paid extra to have 500 employees use Office 365 Copilot in the fourth quarter of 2023 and first quarter of 2024. This is Microsoft's much-heralded AI upgrade to its popular suite of productivity software.” He paid “about $34 per user a month” for the “E3 version of Microsoft's 365 software suite.” “Adding Copilot AI features costs another $30 per user a month. For 500 employees, that would roughly add an extra $180,000 a year.” “These new Microsoft tools are considered some of the premier examples of powerful artificial intelligence in action in the real world. Investors have bid up Microsoft and other big #tech shares massively, betting that this product and similar offerings will catch on with paying customers.” But the article says: “If a large pharma company can't see $180,000 of value in these tools, that's a problem that should worry the entire tech industry,” a worry that I have written about many times. I have trouble finding any examples of companies claiming productivity improvements from generative text AI, and only a few for generative video AI (marketing videos and helping with movie and TV shows). There was one AI feature that the IT executive found somewhat compelling: that “was the ability to archive and summarize video meetings on Microsoft's Teams app. But he said his legal team was wary of retaining meeting transcripts, so the pharma company didn't use that feature.” Other people have shared their concerns with me about the legal problems from storing their proprietary information like this. Investors are also concerned and thus there are many comments, both internal and external to Microsoft, about “whether its AI services will create enough value to persuade corporate customers to pay more.” “The company is amassing 1.8 million graphics processing units to build and run AI models and related products. It also has a plan to triple data-center capacity, mainly to handle AI workloads. Its capital expenditure hit a record $14 billion in the most recent quarter.” Many investors are concerned that this pharma company isn’t the only company that is finding Microsoft’s Copilot AI services, and those from other companies, not as beneficial as many proclaim. With a big runup in the market capitalizations of the big tech companies over the last 18 months, particularly of the so-called Magnificent 7, those concerns could spark a move in the opposite direction for the share prices of the Magnificent 7. #technology #innovation #startups #ethics #artificialintelligence https://lnkd.in/gJ_FHBAB
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There is no such a thing as a context-free solution. Great little thought experiment from JP.
A basic Thursday reflection on: the danger of context-free advice (and the importance of basics). Imagine, if you will, that there exists two companies - Company A and Company B - that appear very similar. Their size is about the same, their revenue is about the same, their brands are about the same, and their products are about the same: they both produce aluminium cans. Now imagine that you were hired by one of the companies to do its marketing. How would you do it? From experience, having asked the question a fair few times over the years to clients and audiences alike, answers tend to end up being variations on a similar theme - the approaches are nearlly identical regardless of which company happened to be the client or employer. Yet, as I am sure you have already surmised, there is a twist. As it turns out, Company A does long runs to a handful of big clients; shipments are few. Marginal costs are low due to economies of scale, enabling a low price. However, the time to market is long. Company B is its opposite. It does short runs to numerous small clients; shipments are many. Marginal costs are consequently high, forcing a higher price, but justified by a short time to market. This information ought to change one’s marketing entirely, particularly in the near-term. If one is employed by Company A and goes after the kind of customer that Company B has, it might be that the size of the order is too small; the company cannot employ economies of scale, costs go up, margins go down, and profitability with them. If one is conversely employed by Company B and goes after the kind of customer that Company A has, it might be that the size of the order is too large; the company has no capacity to fill it. One would have created a demand for which there was no supply. This is a very basic example, yet time and again, I see managers and marketers fail to consider the kind of details mentioned. Instead, the conversation turns into one of context-free solutions, campaigns, clichés about brands and customers, or quotes by Steve Jobs. At the end of the proverbial day, if you do not understand the context in which a firm acts - if you provide the answers before asking the necessary questions - you turn marketing into a game of Jeopardy. There is no such thing as a context-free solution in a context-specific reality, no matter how much business book authors would have you believe otherwise. The basics may be basic, but absorbing the cost of doing them properly usually saves you a whole lot of money later down the line.
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The sources of work for freelancers. This little poll raises more questions than it answers for me... 😅 (perhaps also because 95% of my revenue in the last six years came from project/contract-based stuff and not traditional per diem freelancing). Considering (the likely case) that most of Matthew Knight's followers are self-employed and hoping respondents read the accompanying post that targets freelancers rather than just answering the poll either way, the breakdown of results is as expected. Recruiters play a more significant role in permanent roles and medium-length contracts like maternity/sabbatical/secondment covers. It's mostly bigger recruitment agencies that have dedicated freelance resource teams (and typically with a relatively low cut-off point as far as seniority and daily rates go). Also, many freelance and contract opportunities are recruited through professional network referrals and existing freelance pools, so they don't get posted/advertised to begin with. However, it would have been interesting to split the "existing professional network" component. For me personally, the number one source has been repeat business from my existing clients/agency partners (so I guess that's "network"), next are past clients coming back after changing companies, followed by ex-colleagues making recommendations (#3 for revenue, but #1 source for new clients, and occasionally a direct source of business if they move client-side), and only then ex-client referrals (because even if they loved everything about you and the results, there's less opportunity and it's harder to stay top of mind). Another important thing to keep in mind is the effect of time. If you're switching to freelance at a later stage of your career, the first few years have a "honeymoon effect" as your network is 100% untapped potential. As time goes by and those opportunities play out, that demand gets exhausted (even the best engagements/retainers typically have a finite lifespan). When that starts playing out, the importance of "weak connections" increases, and you need to both connect (professional events and orgs) and market (including social media content) more actively, especially in a downturn. All the above fall under "existing professional network" but are different in how they are cultivated over time and their relative contributions. I'm curious to hear if your experience is similar. (Bonus: dropping a source about networks with some citations for those wishing to dive deep into the sciencey aspect)
Independent Strategist - supporting businesses like Klarna, EY, adidas, Google, P&G and more. Chief Freelance Officer at Leapers. Chief Manual Officer at Manual of Me. YJ Freelancer of the Year. Mental health advocate.
Where does the majority of your freelance work come from? Is it your own professional network (i.e. previous clients, colleagues of colleagues), is it via recruiters, via your own cold outreach or sales channels, or via jobs boards and platforms (like YunoJuno)? Or is it something else? Is your own network still the most important factor in finding work (and if so, what does that mean for people trying to break into an industry?)
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This is such a quirky and intriguing case of consumer culture (and semiotics). My "couch strategist" explanation (no relation to JD Vance) would be that this is about the meeting of social class dynamics, "declining empire" nostalgia, and the British public having to deal with waves of recession since the WWII era. Non-brits, are there equivalents in your country? And are they at this scale or is this a unique British quirk? (Many more delightful examples at source)
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There's this old "shaggy dog story" Jewish joke, that I often find relevant... I'll give you the short version: A guy walks into a doctor's office. Shows him a certain "sensitive matter". The doctor takes one look and immediately goes: "You need to cut it off. It must go." The guy's in absolute shock. No way, he thinks. He wants a second opinion. So, the shaggy dog story part launches into the guy visiting a second, third, fourth opinion, every expert in the world, etc. Every one of them takes one look and immediately goes: "You need to cut it off. It must go." At the very end, he finds the world's #1 expert. It usually takes months to see them, but somehow, he gets an appointment. The expert takes one look, then another, and then pauses. Anxious, our guy asks: "Do I really need to cut it off? Is there no other way?" The doctor squints, looks again, then says: "You don't need to cut it off." The guy's eyes widen. "Really!? I don't need to cut it off? Are you sure?" "100% sure", says the expert, "by the end of the holiday season, it will wither away and drop off on its own."
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Heads of strategy / Strategy talent directors / strategy recruiters take notice: This morning I had the pleasure of speaking to a fresh graduate with a master's degree in... cognitive and decision sciences. Super bright, ambitious, hard-working, savvy, marketing and social-media obsessed. Basically, a dream junior strategist. 🤓 As those positions/programmes are not very well advertised, let me know if you have an interest or know of a good internal programme. She's looking for (and deserving of) a paid junior position (London-based), but for an absolutely shit-hot agency with great future prospects, I will let her consider an internship. 😏 Let me know if you want an intro, have any pointers, or be cheeky and tag your talent director / boss. #strategistsunite #plannersunite
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Seeing mainstream media struggling to explain "brat girl summer" is an absolute delight, especially for cyberculture geeks. https://lnkd.in/eXpWYAsk Cue brands plunging the depths of that particular skibidi toilet of cringe as they try to hello fellow kids this sort of thing. p.s. Tomlinson should get a talk show. After Midnight is fun but doesn't make the most of her huge talent.
Taylor Tomlinson is Having a Brat Girl Summer
https://www.youtube.com/
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Agencies! It's a good bunch. Not to be missed. (and my last one with SCA for the time being)
*Morning everyone!* Don't forget to pop in and see us at our School of Communication Arts 2.0 Open Portfolio Day at The Drum in Shoreditch (25-27 Curtain Rd, EC2A 3LT) on this momentous palindromic day, 24.7.24 (aka Wednesday) from 9–5pm. If you can't make it, please contact Marcia Miller to explain how you missed such an opportunity, and maybe we'll forgive you. Catch us as workable scamps before we blossom into print-ready, copy-checked, client-approved, FINAL FINAL shiny posters.
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"A principle isn't a principle until it costs you something." (Bell Bernbach)
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Strategy & Brand Consulting | D&AD Masterclass Trainer
1yThe current format is an easy-to-navigate google doc. Enjoy. Share. Repost. https://docs.google.com/document/d/1Pym9gBxjcT7Ahj4XPZK77rHC_KJnEb4zRxvlSDwlNl0/edit?usp=sharing