Welcome to Connected Church News!
Top 5 latest Digital, Social Media & Web3 News in 5 minutes, to help your ministry stay on top of industry trends.
This week, we have news about OpenAI, McKinsey, Meta, Twitter, Pinterest.
🗞️ News 1: McKinsey Reports AI Could Add $4.4 Trillion to Global Economy Annually
McKinsey released a recent report that says Generative AI could add up to $4.4 Trillion to the global economy on an annual basis. Now, I like the way they’ve gone about producing this analysis and report because they have looked at other types of AI as well. As you know, Generative AI is the one that’s very popular now, thanks to ChadGPT, Bard and all these chatbots. But there are other types of AIs that have been around for a long time, AI that works in acar, AI that improves the productivity of working people in different ways in industries, and machine learning. They’ve looked at all of this and the contribution of all these different types of AI to the global economy. And then they’ve taken just the role of Generative AI, and the additional use cases and how that contributes to the overall economy. Definitely an interesting and an in-depth analysis of the current AI trends. So highly recommend you check it out. The download link will be in our show notes.
🗞️ News 2: Meta Releases New Tools for Creators Including Reels Editor & ProMode
Meta made announcements last week about new tools that they’re releasing for creators and also monetization options. First is they have released an Inspiration Hub for Reels. Reels, as you know, is the most popular format right now in all channels, so they’re releasing an ‘Inspiration hub’ that would give you ideas on how to create new Reels. They’re also giving you a Template Hub where you can pick templates and create Reels out of them. The editing on
the mobile app has become easier with new tools. They’ve also expanded the ProMode with a new feature called Creators to Follow, which will appear in people’s newsfeed. They can follow certain creators. If you have Pro Mode turned on, you might appear on that space. The announcement also says that you can now have additional monetization options by opening up your Facebook page to your partners.
🗞️ News 3: Twitter’s New CEO Tweets About Her Vision For The Platform & The Future
The newly appointed CEO of Twitter, Linda Yaccarino, I hope I’m saying the name right, released a long Tweet thread that included her vision for the platform and some of the plans she has. It also had lots of motivational Tweets about how, this is a collaborative effort. And she needs the support of people. But what I wanted to bring to your attention, especially if you’re a nonprofit, church, or a ministry that’s focusing on Twitter is, the way she included words like partnership and creator. So Twitter is also starting to include the word ‘creator’ in their thinking. Obviously, everybody wants the ‘creators’ to be on their platform. She also says that she’s gonna rethink the way the platform functions by bringing in more partnerships and new ideas. It’ll be interesting to see what Twitter 2.0 looks like as she mentions in her thread.
🗞️ News 4: Pinterest Launches Travel Catalogs & Expands Premiere Spotlight Ads
Pinterest released two ad formats last week. One is called Travel Catalogs and the other is Premier Spotlight. Premier Spotlight has been around for a while now. They’ve been testing it, but now they’re rolled out to a wider audience. And this is an ad format that occupies bigger real estate in the mobile app of Pinterest. And here there is also a big call to action button right below your video or your image. Or whatever is a type of ad you release, even a carousel.. And this could be useful if you are coming up with an event and if you really want to be occupying a premier position in the ad space that Pinterest provides in front of your audience. The other product is travel catalogs, and if you’re a nonprofit that focuses on the travel industry, then this might be useful for you because you can upload all your catalog and Pinterest will create adynamic ad set for you.
🗞️ News 5: [AI News] OpenAI Lowers Cost; AI in Google Ads; Proposed US Law on AI
In our weekly roundup of AI news, we have three interesting news items. First, from OpenAI, which has reduced its pricing, and it’s also released new versions of GPT3.5-Turbo and GPT4. Looks like OpenAI is being mindful of the competition and the crowded AI space. The second news is from Google, which released two advertising products powered by AI. One is called Demand Gen, and the other is video view campaigns. Both of them will use AI to power campaigns. The Demand Gen campaign is definitely interesting and you might want to check it out. The third news is about a proposed bill in the US Senate that could potentially make social networks liable for distribution of AI generated content. This bill is being introduced by Republican Senator Josh Holly, and Democrat Senator Richard Blumenthal. We will link to all the details in the show notes. Check it out.
Author of The Connected Church. Social Media and Digital Marketing Consultant for Nonprofits, Faith-based Organisations, Churches, and Ministries.