Head of Strategy and Innovation
Three Future Tech Innovations to Watch: And What They Mean to Marketing
Cash is dead: we’ll develop new attitudes to commerce in a cashless society
By 2050, our current payment methods will have almost disappeared in favor of a multitude of dematerialized, personalized and contextualized media in real-time (thanks to artificial intelligence and connected objects or biometric recognition-face, voice, and thumbprints). What does this mean for brands?
At WPP, we believe this is exciting because at least half of our everyday purchases will no longer involve the act of paying or the time traditionally required. Payment will eventually be completely dissociated from consumption, as is already the case for Uber, where the payment ceremony at the end of the transaction has already disappeared. It will eventually become invisible to the consumer.
This could change our value systems and exchanges. Like a mirror of our societies, over time, the object of the transaction will become less focused on possession. Provided that the capture of data on the consumer path is smooth and uninterrupted, the new relationship with payments will be created. We’re betting that as a result of this new fluid system, bartering— of objects but also services—will return in force in our daily lives, like an exchange of good practices.
Green is gold
How green technologies will boost growth and create brand opportunities.
$26 trillion by 2030: this is the benefit estimated by the Global Commission on the Economy and Climate if we accelerate our transition to a low-carbon economic model.
Contrary to popular belief, the fight against global warming would not be synonymous with decline, but with growth. The Commission describes how the emergence of cleaner cities, the development of clean energy, sustainable infrastructure and environmentally friendly agriculture will lead to higher productivity, strong economies and therefore greater social inclusion. In addition to an increase in wealth estimated at $2,800 billion in revenue per year in 2030 for those who have stopped subsidizing fossil fuels over the prior five years. This dynamic would also generate 65 million additional jobs compared to current forecasts. What are we waiting for to go green?
The car will prove rich territory for new media.
As the arrival of the autonomous car becomes imminent, all its actors are seriously imagining the nature of the experience that the resulting released travel time will allow. According to AT Kearney, this would represent a global market of €500 billion by 2035, half of which will come from services, media and entertainment (in autos).
There, is however one prerequisite: to make the car a full-fledged connected terminal. This will involve being capable of absorbing more than 4,000 gigabytes of data each day as soon as it is put into service. This is already raising questions about financing bandwidth and copyright management. Some manufacturers could, with the help of other specialists (Google, Amazon, Facebook, Apple, media companies, gaming brands, et cetera) become content producers and distributors, and as facilitators of conversations between cars.
While the radio is currently the main form of media consumption in cars, many actors are starting to create immersive experiences of a new kind.
The real challenge could, therefore, be to enable everyone to benefit from the content without interruption, through automatic personalization. Content could also be enriched with geolocalized information. The business model is still to be found, but let’s bet that advertising could be a simple way to obtain the desired stream, free of charge and without any subscription.
Extracted from GroupM's annual publication "The After Calendar".