CBX Daily 8/1/2024

Author

Gary J. Nix
August 01, 2024

Today ChatGPT and Bard are addressing healthcare gaps, but let’s start with where multicultural ads need to splash their cash…

Cultural Intelligence Download

Multicultural Ad Spending Matters As Diverse Consumers Control Buying Power

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Multicultural groups' consumer spending power is growing, despite industry ad spending not reflecting this power. It’s time for brands to get on board because nearly $1 out of every $5.75 of buying power in the U.S. belongs to an African American, Asian-American or Native American households. This is a significant shift from 2000 when that number was only 66 cents. Let’s take a look into the burgeoning importance of multicultural ad spending and its role in securing diverse customers.

ChatGPT And Google’s Bard Challenge Health Disparities For Black Patients

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We can agree that all of humanity stands to gain if AI provides accurate and unbiased healthcare solutions, ultimately unlocking new ways to detect and fight disease. However, a recent Stanford study revealed ChatGPT and Google’s Bard answer medical questions with racist, debunked theories that harm Black patients. These tools have proven effective in business by reducing operational costs and increasing efficiencies, but also have the potential to worsen health disparities for African Americans.

Is Your Data Fueling Price Hikes? FTC Launches Crackdown

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In a fair world, the pricing of goods and services should be built on transparency, equity and fairness. But because fairness is something we have to fight for, some eight companies are not playing fair and using your data to inflate prices. The Federal Trade Commission (FTC) is looking into claims that these companies, including MasterCard, McDonalds and Starbucks are using surveillance pricing to adjust prices quickly, potentially impacting consumer privacy, competition, and protection.

Luxury Retail Dominance Ramps Up With Saks Buyout Of Neiman Marcus

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Saks Fifth Avenue has set its affluent sights on Neiman Marcus Group to tighten its stronghold in the retail market. A $2.65 billion deal is being drawn up by Saks Fifth parent company to buy its deluxe rival Neiman Marcus Group, which owns Neiman Marcus and the Bergdorf Goodman brand. The deal will be made even sweeter by an injection of cash from Amazon and Salesforce who will hold a minority stake too. This comes after sales in the retail industry dropped by 0.8% in Jan 2024 signaling shoppers’ financial constraints.

White House Mobilizes $1 Billion In Capital For Latin American Founders

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In a groundbreaking move from the White House $1 billion has been earmarked to fuel the dreams of Latin American entrepreneurs across the Western Hemisphere, with the launch of the Americas Partnership Investor Network. This massive injection of capital is set to shake up the start-up scene, promising to spark innovation and drive economic growth.

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