Cannes jury be damned, generative AI as a inventive instrument is perhaps about to leap from infancy to puberty.
All of the enterprise away from the Palais
Lots of the Cannes Lions attendees aren’t there to take a look at an awards present; they’re there to strike offers and make financial institution. Adtech has drowned out creativity over the previous decade, and whereas the heyday of blackbox startups has waned, the pageant nonetheless serves as a significant platform for dealmaking.
And whereas 2023 was a dealmaking deadzone — the funding financial institution LUMA companions famous deal quantity was down 10% in comparison with 2022 — there’s much more optimism for 2024. LUMA founder and CEO Terry Kawaja had his annual “white social gathering” at Cannes, the place adtech execs and dealmakers dressed all in white mingle.
Michael Kassan, who made a defiant look at (or extra particularly above) the MediaLink bash this yr, had beforehand advised ADWEEK that he’s diving into M&A, with a give attention to discovering small adtech corporations to mix into bigger options. And a spate of small corporations like Claritas, Sonobi, and 33across have all employed banks to pursue gross sales.
