Emerging technology will ultimately come down to whether or not it will make money

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I attended Adobe Summit 2018 in Las Vegas as Adobe’s guest. Nonetheless this is my opinion and not approved (or disapproved) by Adobe before it was published.

 

On Day 1 of the 2018 Adobe Summit we heard from another round table of Think Tank panelists – some referred to themselves as experience creators – about emerging technologies and what the future might look like.

Consumers monetizing their data

We heard opinions about personalization, privacy and other emerging technologies.

There was talk surrounding consumers owning their data, even monetizing their own information to companies.

Related: What’s the cost of a lost conference badge?

That’s not exactly a new concept but I hadn’t heard that in maybe three years. Of course, consumers will have to be the ones who move this forward is my guess. Businesses likely won’t want to pay if they don’t have to!

One panelists said that some influencers already do a version of this. I kind of do. I monetize my lack of privacy to an extend. It’s usually very deliberate. Check out my influencer marketing packages here

Self-regulation

There was also talk around how some of these emerging technologies would be regulated and some people said they would just self regulate themselves. That’s an interesting concept and maybe even the current social media landscape is an example of how self-regulation doesn’t always work as well as it could.

For example, consumers are currently complaining about all the privacy issues that they’re perceiving to happen with social media networks. On the other hand, many of those perceived issues the networks disclosed in their terms of service. Of course, many of us simply accept the terms without reading them.

But what will happen now we will see. Maybe there will be more governmental regulation like what has already happened in Europe or maybe there won’t.



Easy solution for the interim: If you don’t want people to know your private business on social media don’t post it on social media.

Different makeup of the executive suite

There was some discussion around the importance of a design thinker in the executive suite. Because for us to create that perfect user experience we need to have people in leadership roles who can actually lead and hire implementers for those strategies.

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How jobs will change

The typical discussion of how jobs are going to change happened and that’s not necessarily news but it’s something we have to continuously think about. One of the reasons our jobs will continue to change is because the advancements in technology, which is also not something new. But one thing that the panel got me relatively excited about is that bots can actually take the mundane tasks off our hands. For example, what if a bot can do my PowerPoint presentation for me and do it much better than I ever could? #winning

Personalization

Later during the Adobe Summit I stopped by the Southwest Airlines booth and they had facial recognition technology that at some point will adjust the messaging presented to you based on your mood. Of course, that mood will be taken from whatever face you make. I find that highly innovative.

But, will emerging technology make money?

At the end of the day, it all comes back to money. No matter how good or how innovative or how fun or how whatever positive descriptor something is does it actually make money?

if it doesn’t it won’t advance and if it does it will get copied. This is probably the biggest reason why it’s important for any technological advancement to find that sweet spot between innovation and privacy and customer relevance. Because when an innovative product is too creepy people likely won’t buy it.