What's Next, Now: September 2024
This month, our crystal ball predicts an era of AI politics, the return of childlike joy, a green energy imperative, and more.
While AI-focused legislation has been passed around the globe in the past two years (looking at you, EU), in the U.S. the conversation has remained a constant hum of “regulation is coming.” The U.S. is well-known for being slow moving when it comes to tech regulation, but legislation is in the works — over 120 bills aimed at AI are currently floating around the U.S. Congress, tackling everything from deepfakes and copyright claims to AI-powered nuclear warfare. While we wait to see what takes hold on a national level, some states are taking the challenge into their own hands, and California is placing itself front and center of the regulation debate.
A bill sits on Governor Gavin Newsom’s desk that could define the way AI regulation takes shape in the U.S. Known as the “Safe and Secure Innovation for Frontier Artificial Intelligence Models Act,” this law would require AI-companies based in California (which is most of them) to implement a number of safeguards before training and producing AI models.
Because of the significant effects this regulation would have on how these companies currently operate, it’s no surprise they’re attempting to influence the legislative process. OpenAI (based in San Francisco) came out against the bill, arguing it impedes AI innovation. Anthropic (also SF-based) has supported the bill — as long as specific amendments are made that make it easier for Anthropic to return to business as usual. While major tech companies are often brought in as experts to help inform legislators, their direct involvement raises skepticism for many pro-regulation consumers, who question whether these companies have anything more than just their own interests in mind with their guidance.
The mantra persists — regulation is coming. And now we finally have an idea of what it could look like. The California bill has to be signed by September 30, meaning the decision could come any day. If it does get signed, we expect to see other states follow (California often leads the charge when it comes to more progressive legislation, such as the state’s ban on gas-powered cars, which has since been picked up across the country).
With the AI landscape still in flux, business enthusiasm, consumer skepticism, and upcoming legislation will all play their part in shaping the industry. As things continue to evolve, it remains necessary for companies to create their own guidelines and strategies for if, how, and when to adopt AI.
You may be familiar with the concept of “adulting,” which was added to Merriam-Webster’s dictionary at the end of last year. It’s exactly what it sounds like: the act of behaving like an adult, even if you maybe don’t feel like one. The idea was at the peak of popularity in the mid-2010s, a time when Millennials were grappling with their ascendance into adulthood.
Now, adults are taking a hard U-turn and reverting to their youth. Some are sleeping with stuffed animals, others are delighting in collectible dolls. Acne patches are a fashion accessory, and playful keychains are on high-fashion runways.
Some attribute the toy-obsession with playful self-expression, while others emphasize their role in fostering community on social media. We see some connections (pun intended) to the games trend we identified in July — after all, who isn’t looking for a little levity these days — but there is an unabashedness to this trend that feels unique. Adults, particularly Millennials, seem to be bucking the traditional expectations of what it means to be an adult. No longer is the expectation to move away from home immediately and pop out 2.5 kids — instead, there is more freedom to take your time and build your adult life in your own way.
Many indicators of this “youthing” trend are consumer-focused — but those purchasing decisions are emblematic of a deeper mindset shift among young adults. In an economic environment where this age group feels locked out of many of the markers of adulthood (including a midlife crisis), embracing youth may feel like the only option available.
From a business perspective, understanding this shifting mindset of consumers can go a long way. Tapping into nostalgia has been a strong marketing trend for quite a while, but be cautious about initiatives that may remind these groups that they are, in fact, aging.
Instead of relying on nostalgic aesthetics or references, think about how you can tap into the emotions of nostalgia in genuine ways. Beauty retailer Ulta recently launched a “Joy Council” to bring an uplifting spirit to its shoppers. Taking playful, innovative, and genuinely fun approaches to your brand and marketing initiatives could help build trust with your audiences.
This summer, women’s sports reached new heights. The Paris 2024 Olympic Games marked the first 50-50 split between competing women and men athletes, a long way from women first joining the games in 1900. Viewers showed their support by tuning in: More than 9 million people watched the women’s Olympic soccer gold medal match — the most-watched soccer match in Olympic history.
With more women athletes at the games this year, there were a few areas that needed updating, and the women made it happen. Allyson Felix, the most decorated track and field Olympian in history, partnered with Pampers to create the first-ever nursery in the Athletes Village, setting a new precedent for supporting athlete moms. Meanwhile, in August, the NWSL made groundbreaking changes, eliminating the draft to give players control over team choices and removing salary caps to boost earning potential. As women’s sports continue to grow, more transformative changes are on the horizon.
If we have learned anything from men’s sports dominating the news cycle since, well, ever, with more attention comes more power. Men have been influencing sports culture as they go, and now women are starting to make their mark. While women’s sports have long taken their cues from men’s sports when it comes to cultural traditions and business norms, with increasing capital these women are no longer bound by “how it’s always been done.” Do we really need a draft? Why can’t we support women who are athletes and mothers? As women’s sports continue to rise to power, we expect to see more challenges to the sports status quo. This new power could extend beyond the sports world and start shaping cultural trends in our everyday lives.
Gen Z has already begun to disrupt the corporate status quo. Bolstered by a foundation-shaking pandemic, “Zoomers” are making a significant impact in the corporate world by demanding greater flexibility, hybrid work options, and support for mental health services. And their effort is making a difference — many companies now grant mental health days to their employees and even provide access to office therapists. Globally, this advocacy is even impacting local legislation. Last month, Australia granted its workers the "right to disconnect" after working hours, allowing them to reclaim their personal time without any obligation to respond to work communications.
Gen Z exerts its power over the workforce in multiple ways, some at the detriment of their employers. Younger workers are increasingly reneging on job offers, a practice where a potential employee holds multiple job offers simultaneously before accepting the best one. This trend can come at a significant cost to employers, who often scramble to replace candidates who back out at the last minute.
Not all companies are ready to accept the new Gen Z corporate culture code. Amazon recently mandated a five-day return-to-office policy, which many are condemning for detracting from employees' personal time and increasing expenses, such as commuting and child care. The financial sector especially clings to traditional work norms, expecting long hours and dogged dedication. But recent tragedies might finally turn the tides toward employee protections — multiple employee deaths at major firms have shaken the corporate world, with many speculating a connection to over working, stress, and lack of employee protections.
More than 4 million Americans are set to hit retirement age every year for the next five years. As older generations leave the workforce, Gen Z and even Generation Alpha will have even more influence over corporate culture. In the coming years, we can expect a stronger push for workers' rights and legislation. Countries like Australia may gain recognition for their "right to disconnect" policy among their citizens, setting a precedent for other nations to follow.
In the meantime, employers will need to meet candidates halfway to retain top talent and upcoming workers. They may need to make their offers more competitive to combat the rise of reneging and provide employees with greater flexibility, mental health support, and a better work-life balance.
The clean energy sector has had a good year. For the first time in the U.S., wind, solar, and battery installations are outpacing new natural gas generators. Batteries powering California’s electricity grid have kept the lights on through drought, fire, and extreme heat. And clean energy jobs are growing at double the rate of all other jobs combined. While renewable energy has been steadily advancing for several years, it seems like its moment is finally here.
As the effects of global warming intensify, the need for clean energy becomes all the more pronounced. While we might finally be hitting pumpkin-spice weather here, the world is still reeling from months of extreme weather events, from deadly heat waves to devastating natural disasters. Instead of feeling like a distant threat, these extremes are becoming a present day reality.
The rapid pace of clean energy innovation is becoming critical for industries beyond energy. The push for AI around the globe is causing unprecedented levels of energy demand, and tech companies are leading the charge for green solutions. Microsoft recently dominated the news cycle when it announced it was bringing Three Mile Island back to life (the site of the worst nuclear accident in U.S. history) in order to power its massive data centers with clean nuclear energy. Microsoft also teamed up with BlackRock to launch a $30 billion fund to invest in data centers and green energy infrastructure.
Green energy is no longer just a nice-to-have: it’s becoming a business imperative as companies look for ways to reduce their carbon footprints and remain competitive in a warming world. We predict the AI sector will spur clean energy innovation to move faster than it ever has before as industries adapt to a future that demands both innovation and sustainability. With this new momentum, we could see renewable energy capacity tripling within the decade.
The anti-DEI trend we’ve had our eyes on since last year continues to grow: Ford, Harley, and Lowe’s all announced new, scaled-back DEI policies.
In addition to renewable energy, electric vehicles are also starting to catch on — in some places much faster than others. Recently, Norway became the first country in the world to have more EVs on the road than gas-powered cars. The U.S. is lagging far behind — while 94% of new car sales in Norway last month were electric, EVs made up just 8% of sales in the U.S. last quarter.
Score one for the Ozempic/Wegovy PR campaign: in a recent clinical trial, people taking the drug during the pandemic were 33% less likely to die of Covid-19 than the control group.
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