X Halts $100M Ad Business

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🕰️ Microsoft Extends Deadline for Unverified Advertisers

Microsoft is extending the deadline for advertisers to complete its Advertiser Identity Verification (AIV) program. Ads will be paused only if advertisers: 1) serve ads in the EEA countries without completing AIV within 30 days; 2) are flagged for systematic risk checks; or 3) are suspended for policy violations without AIV. Microsoft indicated the scope of paused ads may expand as they "continue to learn and evaluate the process."

🛑 X Halts $100M Ad Business for Promoted Accounts

X is phasing out its "Follower Objective" ads, a longstanding ad format generating over $100 million annually. These text-based ads allowed targeted follower growth but lacked multimedia engagement. As part of a strategy to "optimize the X experience by prioritizing content formats," the platform is moving towards more dynamic content.

🤖 Google Ads unveils AI assistant with accuracy concerns

Google Ads introduces an AI assistant in open beta to aid users with account queries. In its early stages, the tool might offer inaccurate answers, prompting a unique disclaimer for users to provide feedback on any errors. Google AI's development encourages marketers to experiment with emerging technologies, emphasizing its role in refining AI's accuracy. Google invites select users for feedback, ensuring iterative improvement.

🤖 “Retailers” AI Outlook: Survey Uncovers Future Deployment Plans"

Honeywell's survey indicates 60% of global retail directors plan to use AI, ML, and CV within a year for enhancing customer experience (59%), increase productivity (49%), and cost efficiency (44%). Only 7% seek to reduce human labor. AI applications include automating tasks, digital customer service, targeted marketing, and inventory management. Adoption barriers include budget (39%), proving business value (29%), and lack of expertise (21%).

🛍️ July Retail Sales Surge Due to Prime Day and Deal Days

Retail sales in July rose 1% from June and 3.2% year-over-year, attributed to promotions like Amazon's Prime Day, which fueled a 1.9% online sales increase and $12.7 billion in total sales. The U.S. Census Bureau reported a 0.7% overall retail sales increase, the largest in six months. NRF chief economist Jack Kleinhenz noted the "ongoing resilience in consumer spending" but some categories, like electronics and furniture, saw declines.

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