Happy Monday, y’all! In the US, today is Labor Day, so I hope you are having a restful day. This will be the 2nd of three posts I am writing today, but it’s mostly my fault for not getting more accomplished last Saturday. Here’s some business stories that have caught my eye over the last few days:
Threads usage continues to crater, and I am heartbroken over it. I’ve never signed up for Threads, and I’m not planning on doing so. Now there’s new data out that says usage is actually down a staggering 79% on the Android app since its peak in early July. I’ve also read that Facebook has now started promoting individual Threads on Instagram in an attempt to siphon off traffic. As you read all three stories in this post, you will see a common theme: Hype fueling speculation on usage and outcomes that evaporates once reality sets in.
— Lisa Sicard 👩💻 (@Lisapatb) August 30, 2023
ChatGPT is also seeing a solid decline in usage of 29% since May. This isn’t quite as significant in my mind as the Threads plunge for a couple of reasons. First, it’s a much lower drop and it’s over 3 months versus Threads seeing a 79% drop on just one device over the last month alone. Second, there was a flood of hype about ChatGPT earlier this year, but once people started using ChatGPT, they found it actually takes some work to get decent results from the AI tool. And let’s be honest; A lot of people don’t like to put in work to get results, so they are bailing on ChatGPT until someone comes out with an easier AI tool for them to use, or a better How To article on prompt engineering.
— Trish Carey 🇺🇦 (@TrishCarey) August 31, 2023
Our third story also deals with hype vs reality. This time, we are looking at the massive speculation earlier this year that AI was going to steal all our jobs. So far, we aren’t seeing anything to support this fear. Kelly points us to research on Forbes that shows that only 9% of companies have reduced staff because of AI. Now to be fair, that percentage could and likely will increase a bit in the coming years as AI technology matures and companies become more familiar with its capabilities. But as for now, we are still dealing with a disconnect between hype and reality when it comes to actual employment numbers.
#AI Will Not Eliminate Jobs.
— Kelly Hungerford (@KDHungerford) September 1, 2023
So that’s it for this week’s edition of Monday’s Marketing Minute. Now, on Wednesday, the first ever Twitter Power List for the Technology industry will debut. The Power List will include the 10 people in technology that you should be following, the Power List. If you work in the technology industry and want to be considered for the Power List, first follow me on Twitter. Make sure your profile includes the position you hold and the technology company you work for. If you qualify for the Power List for Technology, I will add you to this Twitter list of candidates. See you back here on Weds for the reveal!