With key trends shaping up in the digital media and technology space, Mandar Kamat, Head of Innovations, Hungama Digital Services, lists the latest trends that are making news and more importantly, how they will impact advertising in 2017.
This concept is evolving and will be a key trend in 2017. Digital Twins, in a nutshell, are computerised companions of physical assets. They can have various form factors but primarily rely on sensors for capturing real-time information from their physical twin. Tesla uses Digital Twins in their manufactured cars where data is transmitted from the cars to the factory. So, when a car has a rattling door noise, the same can be fixed by remotely downloading software to adjust the hydraulics. GE uses Digital Twins for automated shutdown of their windmills to avoid wear and tear due to unfavourable climatic conditions. With advancements in computing power and cloud storage, this industry is expected to scale up rapidly in 2017.
Big Data revolution
It's not about the Big Data; it’s what you do with the Big Data that counts. If ‘Big Data’ is a buzzword, then Big Data Analysis followed by Actionable Intelligence is creating the buzz.Data analysis helps Uber manipulate their car positions based on proximity of bookings. MasterCard provides offers based on their customers’ credit card transaction history. AWS (Amazon Web Services) has tied up with the healthcareindustry to cloud compute thousands of patient records and suggest appropriate treatment procedures. Airbnb is creating a local tour experiences database to sell along with bookings based on their user data. The list is endless, and with advancements in Deep Learning for Natural Language Processing, every industry will choose to join the bandwagon.
This vertical will show mature growth with a few players, to provide the best omni-channel experience. With hundreds of apps that provide ride booking, food deliveries, payments, etc. we will soon see this evolve into a niche service. Additional convergence of apps and overlapping of services will be on the rise. Uber in the US has introduced the Self Driving Car Service; Amex has introduced messaging Bot; Instagram now allows live streaming; and SnapChat has announced Group Chatting. In India, with smartphone penetration expected to rise year-on-year and the government pushing towards digitization, app usage is expected to increase multi-fold.