The Second Technology Revolution: How the PR Business Needs To Change Once Again
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The document discusses how the PR industry needs to change and adapt to a second technology revolution driven by emerging technologies like artificial intelligence, augmented and virtual reality, and big data analytics. It argues that these technologies are augmenting influence by providing more data-based insights, amplifying emotional resonance through immersive experiences, and using artificial intelligence to automate and adapt interactions. This will disrupt traditional media and influence, requiring PR practitioners to develop new skills in data, technology, and storytelling to help clients navigate this changing landscape.
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The Second Technology Revolution: How the PR Business Needs To Change Once Again
- 1. The Second Technology Revolution: How the PR business needs to change once again GuillaumeHerbette, GlobalCEO,MSL 1
- 2. Media Industry The First Technology Revolution The rise of social media allowed everyone to become a publisher The power of traditional media was diminished Digital influencers replaced journalists as third-party endorsers 2
- 3. The Age of Influence 3
- 4. 2018 In less than a year, millennials’ earning and spending power will outpace baby boomers. 3/4 Almost three-quarters of millennials say they influence the purchasing decisions of other generations.. A few years ago, we started to see the power of digital influence begin to grow as millennials emerged as an important global demographic By 2025, millennials will represent 75% of the global workforce. 75% 4
- 5. Today… 92%Of consumers trust influencers over brands. 2XPeer recommendations drive twice the number of sales as paid advertising. Of consumers turn to third- party content to gather information about brands. 70% 5
- 6. PAGE 6 The capabilities and importance of influence in communications and marketing are exploding. $15 billion global industry.
- 7. But the effectivenessof online marketing has been poorly understood, and hard to measure. People are spending a lot more time browsing the internet, making it a hugely important vehicle for marketers 8mins. per day in 2015 45mins. per day in 2016
- 9. Augmented Influence More, deeper, better, data-based insights Immersive technologies amplifying the emotional resonance Cognitive computer systems which learn, adapt & interact with people AUGMENTED INSIGHTS AUGMENTED EMOTIONS AUGMENTED INTELLIGENCE 9
- 10. Bring us closer to realizing our clients’ goals. Augmented Insights 1010 HIGHER EFFETIVENESS PERSONALIZED IMPACT STRONGER RESULTS 10
- 11. Emotional resonance is what’s moving people these days. If your messages don’t make people feel anything, you instantly lose them. To stay relevant to the current consumer, communications efforts must lean towards the two holy grails of marketing: EmotionAttention Augmented Emotions 11
- 12. Augmented Emotions Virtual reality. Augmented reality. Mixed reality. Better experience. Improved engagement. Are driven by immersive technologies The right message At the right time With the right technology 12
- 13. 13 Visa’s augmented reality-based promotions in Poland for their ‘Try something new with Visa’ campaign involved the use of AR as a means to interact with people in public spaces How it was done: For their 4-weekend-long promotional activities in Poland, Visa combined technology with the real world in public spaces. In this campaign, when shoppers stood on a white marked circle in front of a 15m2 LED screen, the screen displayed additional animated objects and characters. Visitors could stand next to elephants, pet pandas, run with giraffes and play with penguins, through the simulation the screen offered.
- 14. Augmented Intelligence This transformation is leading to a series of shifts in terms of customer relationship management Breakthroughs in Artificial Intelligence are bringing data and algorithms to the next level, transforming them at the speed of light Will make us smarter and more relevant. 14
- 15. Disruptionby the numbers Percentage of U.S. jobs AI will replace over the next decade Source: Forrester 15 20% Percentage of U.S. business content will be authored by machines by 2018 Source: Gartner 16% 85% Percentage of customers that will manage their relationship with an enterprise though AI by 2020 Source: Gartner
- 16. % $1.2 Forecasted amount of revenue that businesses which implement AI, Data Sciences, and IOT will capture from their competitors Source: Forrester trillion per annum by 2020 Disruptionby the numbers 16
- 17. Where do we go from here? • New skills are needed • Practitioners and tools must evolve • New premium on storytelling • The disruption is happening now
- 18. Data, immersive tech and artificial intelligence are interconnected Immersive technologies are transforming the way we interact Artificial Intelligence helps unlock insights from big data Bots are boosted by deep machine learning 18
- 19. IMPLICATIONS FOR THE PR INDUSTRY
- 20. Effects on the Industry The era of Augmented Influence is already upon us • The power of traditional media is diminishing • Unexpected entrants are replacing incumbents as opinion leaders • Technology is increasingly mixing with reality in ways that are indistinguishable from human interaction • Transformation and adaptation by everyone is required 20
- 21. Machine Journalism? Content, search algorithms, product reviews, and other text- oriented content will be infiltrated by AI-generated content
- 22. “A.R. has huge potential for journalism.” Marcelle Hopkins, deputy video editor and co-director of virtual reality at The Times
- 23. The Associated Press AI-generated content for earnings reports, sports articles, legal notices and other “transactional” content • 3,000 earnings reports each quarter • 2,000 articles per second • Stories “go out to the wire without human intervention" 23
- 24. Machine vs. human journalism • Two financial articles based on the same earnings report • One by journalist - the other one using AI 24 Revenues of $38 billion. Analysts were expecting $37.2. Amazon posted sales of $30.4 billion in the 2nd quarter last year The online retailer posted revenue of $37.96 billion in the period, topping Street forecasts. Ten analysts surveyed by Zacks expected $37.21 billion
- 25. Artificial Influence Will AI disrupt the influence economy as authenticity is altered by AI produced interactions and experiences?
- 26. 26 "We [carried] out a user study (=600) and [showed] that not only can these fake reviews consistently avoid detection by real users, but they provide the same level of user-perceived 'usefulness' as real reviews written by humans.” Source: Business Insider The risk
- 27. Where do we go from here? Opportunity for the PR industry to take the lead in helping brands/organizations navigate complex landscape • Plays to our strength in storytelling and also issues management • Will definitively change our approach on media reports, press release, research and analytics and even traditional PR proposals (both public and private) • New standards for transparency will be needed 27
- 28. The next wave in PR requires adaptation and innovation 28 REPLICATION DISTRIBUTION DIGITIZATION AUTOMATION
- 29. Merci!