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Welcome to our Wednesday edition, we hope your week is going well.

We are covering a fascinating piece around the use of synthetic data and how it can help ecommerce sellers and marketers in decision making. Hope you enjoy it!

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1. Synthetic Data Might Be That Magic Bullet

2. Amazon’s Hiring Binge and Then What?

3. TikTok’s 1930 AI Trend

4. How to use AI to do SEO for Brand Names

Synthetic Data Might Be That Magic Bullet

AI + Marketing, it’s great but….marketers face two main challenges: bias in datasets and privacy concerns. Synthetic data, generated by AI, emerges as a key solution. This type of data, unlike real-world data, is artificial and can supplement or replace actual data. We’ve written about it before as we find it can have very big impact on a lot of areas for ecommerce in the future.

The primary use of synthetic data is in training machine learning models, like those underpinning ChatGPT. It's cheaper, automatically labeled, and helps these models make accurate real-world predictions. This data type is crucial for covering 'edge cases' – rare occurrences not typically found in real data. For instance, in self-driving car development, synthetic data can simulate rare road scenarios, aiding in creating safer autonomous vehicles.

For marketers, synthetic data offers a way to balance AI utilization with data-related challenges. It helps anonymize personal information, ensuring privacy, and can correct demographic imbalances in real datasets, thus reducing bias. Synthetic data aids in creating unbiased ad campaigns and avoids privacy pitfalls associated with real data.

Ok so what’s the trick? Synthetic data, still derives from real data and so carries potential biases. Also, it could be replicating original data too closely.

That said, given the cost efficiencies and the ability to scale, it’s a pretty awesome new opportunity for marketers and ecom sellers alike.

• Read here about Amazon’s 5 year hiring binge. Our prediction is that this will definitely start reversing given how AI has started replacing more and more humans in tech.

• Read AdAge’s 2024 predicitions on AI, TikTok and more here. AI will certainly have a massive impact on the sophistication and efficiency of advertising but AI content will probably be 🤢🤢🤢.

• Action Time: Here is a nifty little article on how to do AI SEO for Brand Names.

• Bard seemingly will get a paid upgrade “Bard Advanced” which will use Gemini Ultra. It remains to be seen whether this will be its saving grace.

• A bit of fun: The latest TikTok +AI trend and how to get it.

@aimeehall46

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