1. Adidas After Yeezy: Millions of pairs of unsold Yeezys are sitting in purgatory, stacked in warehouses from the US to China. Sneakers that once would’ve sold out in limited-edition drops, often flipped for much more on StockX and Goat, now await their fate 7 months after one of the biggest corporate meltdowns in history. – Read More on Bloomberg
2. Here’s What Happens When Your Lawyer Uses ChatGPT: The lawyer who created the brief threw himself on the mercy of the court on Thursday, saying in an affidavit that he had used the artificial intelligence program to do his legal research — “a source that has revealed itself to be unreliable.” – Read More on the New York Times
3. Luxury Brands Don’t Just Sell to the Superrich: The top 5% of wealthiest shoppers drive around 40% of global luxury sales, according to a report from Boston Consulting Group. The rest comes from affluent consumers who spend up to €2,000 a year on luxury goods, equivalent to $2,147 at current exchange rates. – Read More on the WSJ
4. Startups, prepare for your AI due diligence: As investors are becoming increasingly aware of the legal, reputational & other risks associated with the use of AI, they understand that the manner in which a company handles such risks, and in turn, its potential exposure to costly legal complications, can impact the value of the company. – Read More on CTech
5. RELATED READ: How Does AI Fit in Companies’ ESG Frameworks? A Look at “Ethical” AI. Business use of AI poses substantial risks, and the companies know it. AI ethics managers expressed concerns about privacy, manipulation, bias, opacity, inequality, and labor displacement. – Read More on TFL
6. E-Commerce Companies Seek a Backdoor Into AI Responses: When search was king, companies could turn to SEO—and paid ads—to land atop search results. ChatGPT has thrown a wrench into that arrangement. – Read More on the Information