The Pace Report Vol. 10

In a bold leap forward, Amazon offered a sneak peek into the future of voice technology with Alexa. The company is harnessing the power of generative AI and unveiling a new large language model (LLM) designed specifically for voice interactions. This technological marvel aims to make interactions with Alexa feel as natural as chatting with a human.

Alexa's enhanced capabilities focus on five foundational pillars: more intuitive conversations that incorporate non-verbal cues, the ability to take real-world actions, personalized and context-aware responses, the addition of a distinct personality to Alexa, and an unwavering commitment to user trust and security. The integration of generative AI promises boundless possibilities for Alexa's continued development, resulting in a more engaging and responsive virtual assistant. Amazon plans to refine these features based on valuable user feedback during the free preview phase, offering a tantalizing glimpse into the exciting future of AI-driven conversational technology.

Paramount Advertising has unveiled the CBS Sports Creator Studio, a groundbreaking initiative aimed at bridging the gap between traditional TV and social media for sports advertisers. This innovative platform connects brands with social media creators on popular platforms like Instagram, TikTok, Snap, and YouTube. The goal is to engage younger audiences by offering custom content and exclusive behind-the-scenes access to CBS Sports events and programs.

Paramount plans to leverage its existing creator-focused businesses and ensure brand safety, catering to the diverse world of sports fandom.

The initiative comes following an illuminating study by Morning Consult earlier this year, which revealed only 28% of Gen Z have watched a live sports broadcast, versus 47% of adults overall.

With three initial offerings, this move marks a significant step toward adapting to evolving viewer habits in the digital age and capturing the attention of sports enthusiasts across platforms.

The NFT market, once soaring with hype and million-dollar deals during the 2021/22 bull run, has now taken a sharp downturn. Recent data from dappGamble as of July, 2023 reveals a weekly traded value of approximately $80 million, a mere 3% of its peak in August, 2021.

Today, a staggering 95% of the identified 73,257 NFT collections have a market cap of 0 Ether (ETH), rendering them essentially worthless and impacting over 23 million investors. Furthermore, 79% of NFT collections remain unsold, indicating a substantial oversupply compared to demand.

Even among the top NFT collections, value is elusive, as 18% have a floor price of zero and 41% are priced modestly between $5 and $100. The situation may be worse than it appears, however, with inflated valuations not reflecting genuine buyer interest. Despite these challenges, NFTs could still have a future, evolving beyond collectibles to assets with real utility and historical significance, including use cases in gaming, cultural preservation, token-gated access, fractional ownership, real estate, digital identity, and more.

Spotify is venturing into the world of AI-powered language translation for podcasts, aiming to leverage generative artificial intelligence while expanding the appeal of its existing podcast shows. The Swedish streaming giant is testing a feature that will translate podcasts, featuring notable personalities like Dax Shepard and Lex Fridman, into languages such as Spanish, French, and German. These translations, powered by OpenAI's voice generation technology, will retain the speaker's natural style rather than traditional dubbing. By collaborating with podcasters like Monica Padman, Bill Simmons, and Steven Bartlett, Spotify seeks to tap into the potential of multilingual content, which could broaden the appeal for these shows on a global level.

Thus far, the pilot program has yielded a handful of new Spanish translated episodes from a select offering of recent podcasts. French and German translated podcasts are also expected to arrive on the platform in the coming weeks.