March 16, 2023
Companies Ramp Up AI Despite Public Concern
More companies are implementing generative AI (artificial intelligence) into their products and services. Salesforce recently launched Einstein GPT, an AI-powered CRM (customer relationship management) tool that drafts personalized sales emails, auto-generates code for developers, and creates content for marketers. Salesforce joins companies like Microsoft, Meta, and Google, all spending exorbitantly to train and maintain large language models.
Despite continued implementation across industries, many surveys show most Americans don’t trust AI, while significant numbers are concerned with privacy issues. PR professionals remain divided on whether they’ll use generative AI tools like ChatGPT—some see value for tasks like copywriting and social media, while others would avoid them entirely. OpenAI’s latest release, GPT-4, can respond to both text and image input.
Silicon Valley Bank’s Bad Communications
The collapse of Silicon Valley Bank, one of the tech industry’s leading financial institutions, has shaken the U.S. economy. As lenders and lawmakers react, communications missteps continue to plague the beleaguered bank. The lender initially failed to explain its actions to stakeholders, which led to mistrust among financial partners. Then, silence allowed online hysteria to fill the void, while the (now former) CEO’s indecisive messaging continued the spiral.
Coherent and consistent messaging keeps investors informed and customers calm. The lack of executive communications counsel on Silicon Valley Bank’s leadership team likely worsened the crisis, as many have referred to the collapse as the first bank run driven by social media. While good communications can’t prevent poor financial decisions, every banking institution should be prepared with plans to mitigate crises across traditional and social media.
Lawmakers Continue Targeting TikTok
Social media giant TikTok continues to face scrutiny from lawmakers in the U.S. and around the world. In recent weeks, the European Union and Canada have banned the app on government devices, following a similar U.S. directive earlier this year. Governments have expressed security concerns regarding TikTok’s China-based parent company, ByteDance, and the potential misuse of user data. Pending the outcome of a U.S. national security review, TikTok’s leadership is considering separating from ByteDance to assuage concerns.
On the PR front, TikTok has taken steps to improve its public perception. Citing research from the Digital Wellness Lab, the app is limiting daily usage for users under 18 to 60-minutes per day. To promote its economic value, TikTok recently launched a new docuseries highlighting small businesses that have successfully leveraged the app for marketing.
Sequence Summaries: AI Growth, Bad Bank Communications, and TikTok Scrutiny
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