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May 19, 2024, 8:02 p.m.
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Brief news summary

Lexicon, the branding agency responsible for renowned brands such as Blackberry and Apple's Powerbook, is undertaking a study on AI names. Initial findings from the agency's survey indicate that AI will have a positive impact on industries such as telecommunications, healthcare, education, entertainment, and security. However, sectors like banking, hospitality and travel, retail, and legal services were mentioned less frequently. Lexicon aims to develop effective branding for AI technology and overcome the challenges of standing out in a saturated market. The research also revealed that consumers feel empowered and intelligent when using AI but express concerns about responsibility and safety. CEO David Placek stressed the need to tailor naming strategies to audience sophistication and expectations, as well as the importance of simplicity and clarity in naming AI products and companies. He also highlighted the necessity of timely and focused naming strategies given the fast-paced nature of the AI industry.

Lexicon, the naming agency responsible for famous brand names such as Blackberry and Apple's Powerbook, is conducting research on AI naming in order to stay ahead of the curve and create effective brands in the AI space. Their survey of 150 consumers in the US and 150 in Germany found that telecommunications and healthcare were the industries most likely to be positively impacted by AI, while banking, hospitality, travel, retail, and legal services were perceived to be the least impacted. Respondents described emotions of empowerment and feeling smart when using AI, but only a small percentage mentioned feelings of relaxation or joy.

Lexicon's CEO, David Placek, emphasized the importance of developing strong signals and avoiding getting lost in the noise of the market. He advised clients to choose their naming battles carefully and keep it simple. The research also predicts a shift toward more focused naming strategies and a shorter time frame for naming due to increased competition.


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