As the reach of digital increases and big data takes the centre stage, it is leading to customisation and personalisation, according to Dean Donaldson and Jonathan Tavas of Â Kaleidoko. Speaking at the second day of Goafest 2018, they were also of the opinion that in the future, humans and machines are going to come closer and might even merge.
â€śWith talks around big data and technology, the thing that we will be focussing on is people and thatâ€™s where the future lies. We are going to witness a rebirth in media, which means blockchains coming into existence, genetics and artificial intelligence,â€ť said Tavas.
Donaldson and Tavas also said after 4G, in the coming years we will see 5G and 6G. With this rise of internet connectivity, more and more people will be connected through devices. From 8.2 billion connected to devices, the number will reach 25 billion in 2020.
Donaldson said that hyper connectivity of this sort will lead to the world of over-saturation. â€śWith advertising and media, I have so much choice and this is where targeting needs to play influence. And digital plays a big role here; it gives better and targeted quality.â€ť
Moving ahead, Donaldson talked about the rise of robots. As there is an increased use of robots in the manufacturing and logistics industry, he said, â€śI am making a prediction here that the second most prized possession in your house after a car would be robots. 50% of jobs will be reduced by 2030 because we will see tech replacing human skills.â€ť
Going ahead, we will also see the rise of chatbox and artificial intelligence. Most of the conversations we will have will be with artificial intelligence, he added.
Donaldson emphasised the need of aggregated intelligence. He said, â€śWe need to take all of data from various points and put them together in a giant data lake and that is big data. Only then we will get true predictions, personalisation and measurement.â€ť
Tavas then came to a very important aspect of the next wave, i.e. genetics. The study of genetics will help brands to come further closer to the consumers. Brands can have a better understanding of peopleâ€™s behaviour if they also study consumersâ€™ genetics behaviour. Therefore, after social media, it would be geno-media.
â€śThrough the understanding of genetics, brands can have a targeted advertising. In fact, India is one of the biggest spenders on the study of genetics,â€ť concluded Donaldson.