The Drum’s Daily Briefing: Kraft Heinz considers Oscar Mayer sale & OpenAI unveils GPT-4o
Our quickfire analysis of the brand, marketing and media stories that might just crop up in your meetings and conversations today.
“Oh, I wish I were an Oscar Mayer Wiener…” / Adobe Stock
Kraft Heinz considers Oscar Mayer sale
Kraft Heinz is exploring the sale of its Oscar Mayer brand, famous for its “Oh, I wish I were an Oscar Mayer Wiener…” jingle, for $3bn to $5bn, tapping Bank of America and Centerview Partners to gauge interest.
Kraft Heinz, under new CEO Carlos Abrams-Rivera, aims to reposition its brand portfolio, targeting healthier options as part of the company’s multiyear effort to improve the nutrition of supermarket staples.
The potential sale reflects Kraft Heinz’s strategy to adapt to evolving consumer preferences and revitalize stagnant stock performance amid a backdrop of market-share recovery efforts and a broader focus on healthier offerings. The company currently has a market capitalization of about $44bn.
Source: The Wall Street Journal
Children’s exposure to vape marketing at all-time high
New data from Action on Smoking and Health (Ash) reveals a surge in children’s exposure to vape marketing, especially through platforms like TikTok and YouTube.
While the overall percentage of child vapers remains steady at 7.6%, regular vaping among 11 to 17-year-olds now surpasses occasional use. Fruit and dessert flavors dominate preferences, with sweet and vanilla varieties twice as popular among children compared with adults.
The rise in awareness prompts calls for urgent legislative action, coinciding with ongoing debates over the Tobacco and Vapes Bill. Meanwhile, disposable vapes, notably brands like Elf Bar and Crystal Bar, gain traction among young adults and minors.
OpenAI unveils “real-time conversational omnimodel” GPT-4o
OpenAI has introduced GPT-4o, an AI model allowing live voice, video and text interactions, merging capabilities into a single “omnimodel.”
Free for all users via app and web, paid tiers offer more requests. The launch precedes Google’s anticipated AI advancements.
GPT-4o, showcased in live demonstrations, handles interruptions, adjusts tone and reasons through visual problems like algebra equations. It stores interaction records for continuity and offers live translation, conversation search and real-time information lookup.
While glitches occur, it demonstrates natural conversation and merges previously paywalled features for wider accessibility.
China and the US meet to explore how to mitigate AI risks
US and China officials are convening in Geneva to discuss artificial intelligence, emphasizing mitigating risks without negotiating policies.
The meeting follows prior talks in Beijing where AI deployment in nuclear decisions was addressed.
The US delegation stresses human control over AI in nuclear scenarios and asserts that technology protection policies will not be negotiated.
The dialogue aims to communicate US concerns over China’s AI advancements across civilian and military sectors.
While both nations compete in shaping AI rules, there’s hope for consensus on critical risks. Concurrently, the US Senate plans legislation to address AI risks amid competition with China’s surveillance-driven AI goals.