In today’s ExchangeWire news digest: AA/WARC releases its latest Expenditure Report; Meta to launch ad-free paid subscription plans for Facebook and Instagram in Europe; and Executive order by Biden administration aims to cut AI risks.
AA/WARC releases its latest Expenditure Report
Advertising Association / WARC has released its Q2 2023 Expenditure Report, revealing a growth of 1% for the UK’s advertising market, bringing its total to almost £9 billion. Online was found to be the main source of the industry’s sustained growth throughout the quarter, with an increase of 5.8% for online display and 5.6% for BVOD.
Meta to launch ad-free paid subscription plans for Facebook and Instagram in Europe
Following the tightening of EU regulations surrounding data access, Meta announced on Monday that it will be rolling out an ad-free, paid subscription plan for Facebook and Instagram. From November, users in the EU, the European Economic Area (Iceland, Liechtenstein and Norway) and Switzerland will have the option to subscribe to the media sites. Plans will cost €9.99 per month for desktop, and €12.99 for mobile.
Executive order by Biden administration aims to cut AI risks
Through a new executive order announced on Monday, US President Joe Biden aims to reduce the risks that AI poses to consumers, workers, minority groups and national security. Under the new legislation, developers of AI systems which pose risks to the US’ national security, economy, public health or safety will be required to share results of safety tests with the US government, in line with the Defense Production Act, before they are released to the public.
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Fact of the day
In the UK, the IT and telecommunications sector has the highest AI adoption rate at 29.5%, with the legal sector following close behind at 29.2%. The retail, hospitality and healthcare sectors have the lowest adoption rates, at around 11%.