As this incredible feat of technology has been such a groundbreaking and topical innovation of late, it seemed like a good idea to see what could be squeezed out of it, in terms of collecting some stats and facts relative to Shimmy! Below are some of the initial passages of text and information Chat GPT returned once prompted:
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Some information on the Market Opportunity in the social media space:
- User base: As of 2021, the number of social media users worldwide is estimated to be over 4.2 billion, with a growth rate of over 9% YoY.
- Ad Spend: In 2020, global social media ad spend was estimated to be over $100 billion, and it's projected to grow at a CAGR of approximately 15% through 2023.
- Industry Revenue: The global social media market size was valued at $280 billion in 2020 and is expected to reach $509 billion by 2026, with a CAGR of 11.3% during the forecast period.
- Mobile usage: Over 80% of social media usage now takes place on mobile devices, providing a significant opportunity for startups to focus on mobile-first strategies.
- Emerging markets: The majority of social media growth is coming from emerging markets, with countries like India and Indonesia leading the way.
Chat GPT was also prompted to bullet statistics of negative impacts of social media use:
- Increased anxiety and depression
- Decreased face-to-face communication skills
- Cyberbullying and online harassment
- Addiction and decreased productivity
- Spread of misinformation and fake news
- Decreased sleep quality
- Decreased self-esteem and body image issues
- Decreased privacy and security
- Decreased attention span and increased distractibility
- Increased feelings of loneliness and isolation
These statistics were pulled together in under a minute, from just two prompts! It’s incredible how powerful this tool is. For so many reasons. Let the statistics provided resonate with you, sign-up to test our platform, and certainly give ChatGPT a try! It's pretty awesome!
