Technology meets data- looking to the future of personalisation
By 2020, advancements in data and technology are set to transform the ways brands interact with consumers on a personal level, whilst maintaining consumer privacy.
David Wood, Chair at London Futurists, describes us as entering a “4th Industrial Revolution” where the physical and biological worlds, as well as hardware and software will combine to advance experiences in AI. Wearable computers, whether they are in the form of glasses or audibles, will enhance the user experience by adding extra information or sounds. This means that in possibly less than 5 years, the consumer will be experiencing a unique and more expanded state of consciousness.
Meanwhile, “surveillance technology” is emerging as an opportunity to layer more sophisticated data upon the myriad of layers of information that exists around an individual, David Wood explains. This means, in addition to knowing the bare basics of a consumer from their demographic profile, this advancement in data will allow us to capture more complex and personalised information, from emotions down to hair colour. For example, with the help of eye tracking cameras, brands will soon be able to see, when visiting a website, not just the website the consumer is visiting but the specific parts they are looking at, in addition to their mood and sentiment at the time.
Although these advancements will help brands build better and more personalised consumer profiles, the risk of these advancements raises the question of consumer privacy. Brands need to find the right balance and be seen as doing good with their data, without being intrusive. Personalisation may become annoying if consumers are aware that information about themselves is known to brands, resulting in a lack of brand trust.
David Wood explains below how the industry can find a solution to this below.
