A backlash against AI imagery in ads may have begun as brands promote ‘human-made’

In a wave of new ads, brands like Heineken, Polaroid and Cadbury have started hating on artificial intelligence (AI), celebrating their work as “human-made”.

But in these advertising campaigns on TV, billboards on New York streets and on social media, the companies are signalling something larger.

Even Apple’s new series release, Pluribus, includes the phrase “Made by Humans” in the closing credits.

FEDS Paper: Access to Capital and the IPO Decision: An Analysis of US Private Firms

Andres Almazan, Nathan Swem, Sheridan Titman, Gregory WeitznerWe analyze firms’ IPO decisions using detailed financial data on US private firms. We find that firms with higher external capital needs are more likely to go public. Following the IPO, firms increase their investment and debt issuance, resulting in leverage ratios close to their pre-IPO levels. Finally, newly public firms borrow from an expanded pool of lenders at improved terms, with a decrease in the within-firm dispersion in banks’ private risk assessments.

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