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Latest AI News June 2024
• Toys 'R' Us unveiled an AI-generated ad at Cannes Lions Festival, created using OpenAI's Sora platform
• The 66-second ad tells the story of founder Charles Lazarus and the company mascot
• Created in collaboration with creative agency Native Foreign
• Ad depicts young Lazarus's vision for transforming toy stores
• Received mixed reactions: praise for innovation, criticism for awkward visuals
• Part of Toys 'R' Us strategy to modernize brand while honoring its founder
• Ad highlights AI's potential in filmmaking and advertising
• Toys 'R' Us recent history:
Filed for bankruptcy in 2018
Acquired by WHP Global in 2021
Opened new flagship stores in major malls
Now generates $2 billion in annual retail sales
Has 1,400 stores and e-commerce sites
• Plans to use the AI-generated ad to promote presence in Macy's stores
• CMO Kim Miller emphasized hands-on experience with AI tools like Sora
• Ad aims to appeal to millennial parents with nostalgia for the brand
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