Friday, January 31, 2014

Live from #MediaInsight: The Impact of Technology: Tales From the Consumer Electronics Show


Lori Schwartz, Tech Catalyst and Principal, WORLD OF SCHWARTZ, Managing Partner, STORYTECH

Technology is all about a good story.  

Growth is exponential, and if you don't move fast you are on the path to doom.  

20,000 new products debut at CES.  Here are some key trends:

1. The Future of Cloud Base Entertainment: Business are meeting in the cloud due to sharing services - there are new opportunities for business who would have never worked together in the past to team up.  There is disruption within disruption in today's digital world - everything is changing constantly.  

2. Changing Channels: Content Disruption, Bundling, and the "Plussing" of Services: In 2013, overall 5 million homes had cut the cord.  "The Lizzie Bennet Diaries" won an Emmy by taking the "Pride and Prejudice" novel and applying it to today's Millennials via a web series - which in turn gave people a chance to buy products from the series via online channels.  

3. Islands in the Stream: Brands need to understand all of the little bits of consumers.  We share information in countless ways - you can tell Facebook that you have a back ache or Tweet that you went to the gym - and synthesizing this information is crucial to understanding the full picture.  This also ties into the Internet of Things - where objects will work together to get smarter and provide a more connected experience without humans being involved at all.  

4. The Roar of the Crowd: The role of the audience has never been so big.  It's a time of "hyper-personalization."  

5. Whose Brand is it Anyway?: Polaroid, for example, had to figure out how to adapt their brand for today's world.  Enter the Socialmatic: http://www.social-matic.com/site/

At CES this year robots were huge - they are changing how we do business in a very real way.  Science-fiction is coming true.  

iBeacon: Bluetooth and GPS mix to know who you are and send relevant information straight to your phone.  This is already at certain subway stations in NYC, and will be everywhere very soon.  

ABOUT THE AUTHOR

Ben Proctor is Insights Strategist at Miner & Co. Studio, a New York-based consultancy

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