News 21.02.2024

Need to Know

The Future Laboratory and Together Group’s new report, OpenAI unveils text-to-video generative AI tool and why British Gen Z workers are ghosting possible employers.

Discover The Future Laboratory’s latest report, New Codes of Luxury in Saudi Arabia

Middle East – Explore The Future Laboratory and Together Group’s New Codes of Luxury in Saudi Arabia report, featuring market and mindset shifts underpinned by proprietary data from FuturePoll™, The Future Laboratory’s quantitative division.

The report analyses the key trends shaping luxury locally, with case studies, consumer insights and strategic areas of opportunity to create a clear view of the key success factors for brands, and to encourage the next generation of Saudi-first enterprises to thrive.

From The Saudi Luxury Consumer Landscape to Overarching Mindset Shifts and Creating Future Saudi Luxury Experiences, Destinations and Brands, the report provides new levels of insight into Saudi Arabia’s luxury market by unpacking myths and misconceptions and identifying strategic areas of opportunity in the region.

Access the full report for free on The Future Laboratory website here.

Find out more

Our team of experts can also create bespoke reports and thought-leadership content based on the topic of your choice to help you drive profitability, identify new sector opportunities and stay ahead of the curve in an uncertain world. Get in touch now.

Dyson unveils B2B only Supersonic r hair dryer

Global – Consumer tech specialist Dyson has introduced its latest breakthrough, the Supersonic r hair dryer, set to make its debut during the autumn/winter 2024 fashion show season across all fashion capitals in February and March 2024. Weighing less than a bottle of hairspray at a mere 325g, this cutting-edge B2B beauty tool incorporates Radio Frequency Identification (RFID) technology and features an ergonomic 'r' shape design for superior styling precision.

With a comprehensive development process initiated in 2017, Dyson Beauty aimed to provide professionals with an agile and adaptive tool that delivers a superior styling experience and lasting results. The machine’s streamlined heat technology and 3D mesh filter for capturing salon pollutants was designed to make professionals’ lives easier. The ergonomic design also prevents injuries including carpal tunnel syndrome, which are highly prevalent across the hair stylist community.

Amy Johnson, global head of Hair Care Artistry, highlighted Dyson’s dedication to meeting real-world demands, stating in a press release: ‘Our in-depth professional stylist trials, research and insights informed the intuitive adjustments on the Dyson Supersonic r professional hair dryer.’

As explored in our analysis of CES 2024, beauty tech innovations backed up by research and designed for results and longevity are on the rise – the demand is high from both a consumer and a business perspective.

Dyson Supersonic r™ Professional, Singapore

Strategic opportunity

Take inspiration in Dyson’s decision to design and release a new device only for professionals. Can you find a gap in the B2B market that could fit your products, services or expertise?

OpenAI launches text-to-video generator Sora

Sora by OpenAI, US Sora by OpenAI, US

US – OpenAI, the company behind generative AI chatbot ChatGPT and still image-generator DALL-E, has launched an AI text-to-video generator.

Named Sora, after the Japanese word for sky, the technology can generate videos from text prompts – such as historical footage of California during the gold rush – in a matter of minutes. The resulting videos are cinematic and high-resolution, although sometimes include strange and illogical images.

The company is not yet releasing Sora to the public, however, opting to share the technology with a small group of academics and other researchers for the time being. This group is working to identify the potential dangers of the technology and ways it might be misused. One fear is that the technology might assist in the spread of misinformation ahead of a particularly jam-packed year of elections.

Sora marks the next era of the Generative AI Creativity Market, as consumer-facing generative AI platforms begin to redefine the boundaries and nature of creative work, and OpenAI’s work to safeguard the technology is a promising development in regulation surrounding generative AI.

Strategic opportuntity

It won’t be long before Sora is available to the public and as widely used as ChatGPT. Invest in training on how to effectively prompt generative AI for your team now, to ensure your company can effectively adopt and implement this technology

Stat: British Gen Z workers treat employers like bad dates

Wet Beast Office. Design by Studioninedots. Photography by Maarten Willemstein, The Netherlands Wet Beast Office. Design by Studioninedots. Photography by Maarten Willemstein, The Netherlands

UK – Job ghosting, a trend previously associated with dating, has now infiltrated the professional realm, with Gen Z job-seekers treating potential employers like bad dates. Employment website Indeed surveyed 1,500 businesses and 1,500 working people in the UK, and found that 75% of workers have ignored potential employers in the past year. Shockingly, 93% of Gen Zers have flaked out of job interviews. Some 87% of Gen Z respondents even admitted to abandoning their new roles on the first day after succeeding in the hiring process and signing their contract. The rationale? They want to feel in charge of their career.

The impact on businesses is significant, however, with over half reporting that ghosting has made hiring more challenging. Even Baby Boomers, Gen X and Millennials are occasionally guilty. While Gen Zers are repeat offenders, older workers express regret, with a third considering it acceptable before an interview.

Employers are not exempt, as 20% of workers report prospective employers failing to show up for phone interviews or getting back to them after offering them the role. As explored in our Work States Futures macrotrend report, it is crucial for employers to reinforce transparent financial offers and gain the trust of Gen Z candidates to prevent job-seekers from ghosting further in the hiring process.

Strategic opportunity

As trust remains key to attracting and retaining talent, develop a transparent and authentic employer brand that communicates company values, culture and growth opportunities

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