Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Add shares to your
quickpicks to
display them here!

WPP climbs after striking AI partnership with Alphabet's Google

10th Apr 2024 10:28

(Alliance News) - WPP PLC late Tuesday announced a partnership deal with Alphabet Inc that will see Google’s Gemini models integrated with WPP Open, its artificial intelligence powered marketing operating system.

Shares in WPP rose 2.8% to 771.92 pence each in London on Wednesday morning. The wider FTSE 100 was up 0.6%.

WPP, the London-based advertising firm, called the partnership "groundbreaking," explaining the pact will combine Google's expertise in data analytics, generative AI technology and cyber security with WPP's end-to-end marketing capabilities.

WPP pointed out WPP Open is already used by more than 35,000 of its people and adopted by clients including The Coca-Cola Co, L’Oreal SA and Nestle SA.

WPP Chief Technology Officer Stephan Pretorius said the deal "marks a pivotal moment in marketing innovation."

"Our integration of Gemini 1.5 Pro into WPP Open has significantly accelerated our gen AI innovation and enables us to do things we could only dream of a few months ago."

"I believe this will be a game-changer for our clients and the marketing industry at large."

The move forms part of WPP’s ongoing annual investment of GBP250 million in AI, data and technology, announced in January.

At the time, WPP Chief Executive Officer Mark Read said: "AI is transforming our industry and we see it as an opportunity not a threat."

Shares in Alphabet, the Mountain View, California-based owner of Google and YouTube, closed up 1.3% at USD158.14 in New York on Tuesday.

By Jeremy Cutler, Alliance News reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

FTSE 100 Latest