CBX Daily 5/16/2024

Author

Claire Moraa
May 16, 2024

Today Black consumers are making companies hear their plea, but let’s start with how Microsoft is putting a leash on its AI to be cop-free…

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Microsoft Shuts Down Police Party At The A.I Playground 

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We can all agree AI has revolutionized every industry but in the same breath, it has also perpetuated inequalities and prejudices especially in minority communities. One sector that has been hard hit with AI racial biases is law enforcement with at least six known people wrongfully arrested. And it's not just about prejudices, it has the potential to monitor, track, and surveil individuals without their consent. Without clear guidelines and standards, there is an increased risk of misuse, abuse, and infringement of individuals' rights.

Black Consumers Push Companies To Keep The Same Energy On Sociopolitical Issues

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Black consumers want brands to keep the same energy around sociopolitical issues, if they want to capture a larger share of their money. With the combined spending of Black households outpacing the growth rate of white households over the past two decades, at 5% vs. 3% respectively, Black consumers are a growing force to be reckoned with. Critically however, these consumers have shown to be more likely to take action, 58% vs. 50% of the total market, either via speaking out against or becoming a patron of businesses based on their political, social, and/or environmental stances. 

Defining Culture: Why The Epicenter Of Influence Lies With Black Celebrities

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At the epicenter of influence a recent study by Morning Consult revealed that Black consumers are more likely to heed brand advice from Black celebrities, than the public as a whole. While that may not be all too surprising, when analyzing this study’s data, we can learn more about all of the factors that make up true influence. Especially when you consider that 50% of Black consumers trust Black celebrities, athletes & influencers for brand advice.

Former FTX CEO Now Cooperating In $11 Billion Crypto Lawsuit Against Steph Curry, Shaquille O’Neal & Others

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The $32 billion collapse of cryptocurrency exchange FTX has caught a couple of current and former athletes in its crosshairs. Now, FTX founder Sam Bankman Fried has agreed to cooperate in the $11 billion class action lawsuit against Shaquille O’Neal, Steph Curry, Tom Brady and others investors, according to Bloomberg. This begs the question; should these sports celebrities who brought instant credibility to FTX, be held just as culpable as the company’s itself?

Weighing The Financial And Mental Costs Of Higher Education

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The financial weight of higher education is mentally draining Black Americans with student loan debt. A recent survey conducted by ELVTR, revealed that 54% of respondents said their mental health struggles are directly related to student loan debt. Nearly two-thirds of those polled can barely afford or can’t afford their loan payments at all, with minorities like Black borrowers facing the most debt.  The financial strain, emotional burden and mental distress of student loan debt begs the question, is it all worth it?

Vibes of the Week

A.I is “Not Like Us.” Microsoft makes it clear to the police. Another one from Kendrick Lamar’s diss album. Get into it in our CBX Vibes!