Elon Musk should have tipped people off. Advertising's biggest persona non grata came to Cannes for the Lions Festival in June on an apology tour, but left having ruffled feathers further, telling attendees that AI would probably take their jobs. It was perhaps the truest thing said all week at the marketing world's biggest carnival, where advertising execs meet to sip rosé, make deals, and fête ads on the Côte d'Azur. It's not that attendees thought Musk was wrong. In fact, many came away from Cannes uncomfortable with the lavish excesses on display even as the industry grapples with existential threats.
It's been a rough ride: The pandemic changed consumer behavior almost overnight and upped the stakes of customers' relationships with brands, raising their expectations for everything from delivery turnaround times to ethical stances. Marketing budgets were slashed as growth slowed and the threat of a recession loomed. Platforms such as Google and Meta gobbled up the supermajority of ad dollars. And let's not forget the arrival of AI, which threatens jobs and business models with its promise to do human work at a fraction of the cost.
Against this backdrop, you might be forgiven for thinking the entire industry is tanking. But a review of this year's fastest-growing advertising and marketing companies reveals one thing all 494 of them have in common: They're not household names. Rather, for the most part, they're nimble, specific, and good at what they do.
It's telling that the category this year is populated largely with companies that live in the underbelly of advertising-part of the plumbing that determines the content that people see, how and where they're sold to, and where they buy. They give us a glimpse of how the internet-and modern business-really works.
Denne historien er fra September 2024-utgaven av Inc..
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Denne historien er fra September 2024-utgaven av Inc..
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Karen Dillon Congratulations on Your Company's Big Success. So Now, Let Me Ask- Are You Happy? - Happiness is actually contagious. The Framingham Heart Study-the longest ongoing study of heart health in the world, which has tracked aspects of participants' lives for more than 75 years-found that being in the presence of someone who is happy is likely to spur happiness in yourself.
For Jeremy Kasler, founder and CEO of CaskX, the pandemic offered an unexpected opportunity to reset his life. Having sold his previous company, Hong Kong-based Art Futures Group, which paired midcareer artists with investors, the native Brit planned to spend some time reconnecting with family in Australia as he got his new startup off the ground. The new business, which helps individual investors purchase barrels (or casks) of bourbon and Scotch from distilleries in the U.S. and Scotland, was still in its early days when Kasler arrived in Sydney just a day before the country went into lockdown. I kind of got stuck there, he recalls. But in hindsight, it was one of the best things that could have happened to him-and his new company.
AI Is in Its Awkward Era - Companies on this year's Inc. 5000 detail their growing pains, as investors expand their understanding of AI beyond chatbots and generative art.
For AI entrepreneurs, the enthusiasm is doubleedged. Interest in their tools has never been greater, as nearly half of the Inc. 5000 honorees who took our CEO Survey (see page 49) cite the use of at least one AI service. OpenAI was the top provider. But genAI hype has also led to misconceptions about what these tools actually do. As AI zips to the top of investors' portfolios, founders say the biggest factor limiting their growth isn't fundraising; it's overcoming a towering knowledge gap.
Meet the Inc. 5000- Moving the Goalposts - Religion of Sports believes it has the strategy for docuseries success in a suddenly cost-conscious Hollywood.
Religion of Sports believes it has the strategy for docuseries success in a suddenly cost-conscious Hollywood. When it comes to understanding athletes, Gotham Chopra has learned some lessons: Losses are more interesting than victories, the old guard has more enlightening things to say than up-and-coming phenoms, and success doesn't typically happen overnight. It was Serena Williams who served that last point to him after he rallied for seven years to try to get her to do a documentary with his production company, Religion of Sports. "Boy, you're persistent," he remembers she said to him.
Chip Conley Human wisdom is more valuable than ever. But true wisdom requires these six skills- When management theorist Peter Drucker coined the term knowledge workers in 1959, most people had no idea what he was talking about.
When management theorist Peter Drucker coined the term knowledge workers in 1959, most people had no idea what he was talking about. Since then, knowledge workers have come to rule the world. Today, seven of the world's 10 most valuable companies are tech companies, the ultimate workplace for knowledge workers.
Managing the Future of Work Isn't an Easy Job
Hirings and firings, layoffs and resignations. The workforce is experiencing never-ending upheaval, and HR professionals are pivoting fast.
Power Players
The future of energy is greenand smells like oil. Whatever the political fights, our demand for juice is rising fast, and Inc. 5000 companies are ready to meet it.
"WE HAD 10 EMPLOYEES, AND 25 LAWSUITS"
Hoan Ton-That, the controversial co-founder and CEO of Clearview Al, is confident that past scrutiny won't stop his company from netting $2 billion a year in revenue.
Marketers Hope the Odds Are Ever in Their Favor
Against industry headwinds, the country's fastest-growing advertising and marketing companies are nimble, specific, and good at what they do.
How I Used AI to Solve a Pharmaceutical Puzzle
Yoona Kim, 44, wanted to help people access health care.
My Brand's Facials Are Great. Our Real Estate Strategy Is Even Better
There is no shortage of competition in the $144 billion skin care industry.
