28 June 2017 Company News
This year’s Cannes Lions Festival has just finished. All major ad tech players were present and about 100 yachts were rented. There’s one thing we can be clear about – Google and Facebook are all the time taking a larger part of the global ad revenues.
Real Audience obviously had to be there too! The Chairman of the Board, Fredrik Strauss, had some great and hectic days at the French Riviera meeting a lot of buyers and tech vendors.
Fredrik joined several AI/Machine Learning events and noted that AI is getting more and more adopted in the ad tech industry every year. You obviously know or have heard about Siri, Google Maps, Tesla Autopilot or Google translate, but they are just examples of how AI is being used in modern software. In fact, artificial intelligence is hiding in a wide range of software.
Teads.tv hosted one of the great seminars and Tim Urban, Co-Founder of Wait But Why, led it. Real Audience had to attend it. According to Tim, the finance industry has heavily invested in AI and nowadays 8 of 10 hedge funds have AI as one of their core components. The investment bank JP Morgan is applying AI in all of their businesses, which enables them to cut down staff and decrease credit losses. All of that due to the increased performance of AI compared to humans.
Machine Learning works fine in the ad tech industry since there is so much data and the huge volumes of traffic. The tech vendors that haven’t applied Machine Learning yet will have to catch up during the next year.