Mandar Kamat, Head of Innovations, Hungama Digital Services looks at some of the latest trends in digital media and technology and how they will impact advertising in 2017
This concept is getting more and more evolved and will be a key trend in 2017. In a nutshell ‘Digital Twins’ are computerised companions of physical assets. They can have various form factors but primarily rely on sensors for capturing realtime information from their physical twin. Tesla uses Digital Twins in their manufactured cars where data is transmitted from cars to factory. So, when a car has a rattling door noise; the same can be fixed by remotely downloading software to adjusts hydraulics. GE uses Digital Twins for auto-shutdown of their windmills to avoid any wear and tear due to unfavourable climate conditions. With advancements in computing power and cloud storage this industry is expected to rapidly scale up in 2017.
Big Data Revolution
It’s not about the Big Data, it’s what you do with the Big Data. If ‘Big Data’ is a buzz word 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. Master Card provides offers based on their customers’ credit card transaction history. AWS (Amazon Web Services) has tied up with the Health Care Industry 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 & 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 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 YOY and the Government pushing towards digitisation; app usage is expected to rise multi-fold