It seems, anyone hoping to thrive in this industry (or any industry, really) has to keep up with the latest and greatest tech - an ever-evolving beast that is never fully tamed. Forbes’ look ahead at the tech trends of 2023 offers a little leash that may provide some measure of control.
1. AIs are getting suuuper sophisticated (more content in less time) —
GAI is a category of artificial intelligence algorithms that generate new content based on trained data. Chatbots (like ChatGPT), art generators (like DALL-E), and text-to-speech tools (like Lovo) are creating content nearly indistinguishable from human-generated content.
2. Staying ahead of the tech curve is getting tougher, but the solution may be... more tech? —
While bot-conflated metrics and rising customer acquisition costs have digital advertising finding its footing, businesses are adopting new tools like blockchain proof-of-view technology to protect costs and use reliable analytics.
3. Crypto likely will be around for a while —
The growth of e-commerce has sparked an array of available payment options. While traditional providers charge markups for cross-region transactions, cryptocurrency offers cheap and fast options for transferring money globally. The blockchain is only getting easier to use and thus more popular.
4. Texts > Emails? —
Marketing analysts say SMS marketing is returning as consumers seek personal interactions with brands. Studies show average open rates for SMS are 90% (compared to email’s 10%).
5. Leverage wholesale opportunities for more $—
Retailers are expanding their market opportunity by exploring B2B along with existing B2C business. Many businesses shifted operations online and broadened their prospect horizons during the pandemic. B2B commerce will continue to help drive community selling, new distribution points, and global financing opportunities.