The ultimate goal of content automation is to find the relationship between three inter-dependent key players in the dissemination of digital information. In the following discourse, the researchers present significant correlations within content creators, digital consumers, and businesses. The root cause of the problem lies in the prediction of the future, that is information explosion.
Marr (2018) emphasized that the amount of data generated every day across the globe is two and a half quintillion bytes. We are living in the era of data explosion with every Internet activity, including social networks, wikis, blogs, emails, traffic systems, airplanes, satellite and weather sensors. The challenges we face are in storage, processing, analysis, searching and visualization of these vast amounts of data. Due to this data explosion, 90% of data available today on Earth have been created in the last two years. This can lead to an information overload, where managing and understanding too much data will become very difficult.
With a forward-looking approach in the future of information management, one sector of the digital content distribution leg is seriously at risk of being left behind, which is the content creators. This paper aims to put together pieces of statistical analysis and research studies about the future of freelancing, how it affects the flow of digital information in the Internet, and the importance of big data automation and analytics in the Creative Industry Sector.
The Future of Information
The world is entering Industry 4.0. It is related to what is called the “smart factory”. In a smart factory, a virtual copy of the physical world and decentralized decision making can be developed (Morrar R, Arman H & Mousa S, 2017). Also, physical systems can cooperate and communicate with each other and with humans in real time, all enabled by the IoT and related services.
The debate about Industry 4.0 and its global impact is growing rapidly due to intense discussions about digitization, the Internet of things (IoT), and smart knowledge and systems (Friess & Ibanez, 2014; Vermesan et al., 2014). The debate is driven by uncertainty about the best way to exploit the fast pace of technological innovation to improve various aspects of human life.
Industry 4.0 also promotes the use of big data, IoT and Artificial Intelligence (AI) as one. It creates an environment in which smart machines can communicate with one another, not only to enable the automation of production lines but also to analyze and understand a certain level of production issues and, with minimal human involvement.
Today, content marketing is getting saturated in its current form. Content creators are unable to keep up with the demand for high-quality, personalized content for every marketing task. With the help of AI, content creators can meet this demand and redefine the way content creation and delivery occurs.
Too Much Information vs Too Little Time (TMI vs TLT)
Scientists have measured the amount of data that enter the brain and found that an average person living today processes as much as 74 GB in information a day (that is as much as watching 16 movies), through TV, computers, cell phones, tablets, billboards, and many other gadgets. Every year it is about 5% more than the previous year. Only 500 years ago, 74 GB of information would be what a highly educated person consumed in a lifetime, through books and stories (Bohn and Short, 2012).
Research in many areas of neuroscience, the study of the brain and behavior, has shown that our brains are built to learn and adjust to a changing world (Lang et al, 1997). As our ancestors developed bigger brains and started behaving more like the humans we are today, their brain areas responsible for seeing, hearing, or feeling the world took up an increasingly important role. These brain areas learn from experience and get better at noticing events that are really important or meaningful to us, such as threats (a growling dog, for example) and opportunities (delicious food, for example). Having our senses focus on things that matter and ignore unimportant things helps us to have the best possible behaviors, remember important information, and learn from mistakes as well as successes.
DeSmet (2018) of Harvard Business Review publication argues that “when we apply the YouTube and Netflix models to small-bite and binge learning in a business setting, a critical problem emerges: the explosion of content that’s now available to learners means that the choice of what to take a small bite of, or what to binge on, can be overwhelming”. This challenge may not matter when a person consuming content on YouTube or Netflix. But when it comes to learning, adding Too Much Information (TMI) to Too Little Time (TLT) compounds a perplexing problem.
Evolution of Information Technology
Remote Workers Will Increase
The very structure of work is changing, and companies are scrambling to keep up. An eye opening study by Upwork (2018) among more than 1,000 hiring decision makers shows how prevalent remote work is becoming:
63 percent of companies now have remote workers, yet 57 percent of companies have no remote work policies.
48 percent of companies use freelancers (up from 43 a year ago), while work done by freelancers increased 168 percent.
6 times more hiring managers believe agile team structures will become the norm.
3 times as many believe offices will become temporary anchor points versus daily travel destinations.
In fact, hiring managers believe remote work will change the nature of work more than A.I. A study by Imgur (2018) illuminates the varied nature of remote work, with the most common remote jobs being those in client services, business development manager, speech-language pathologist, nurse, accountant, writer, and account manager.
Gallup research (Dvorak and Breck, 2018) shows that employees are 43 percent less likely to experience burnout when given a choice in how and when to complete their tasks. At the same time, however, research shows that flexibility can lead to burnout because employees feel indebted to their employer for the flexibility, and so work supremely hard to return the favor.
The flexibility conundrum is critical to figure out for both leaders and employees as remote work continues its upward trajectory. As the Gallup research shows, the key to successfully fostering flexibility (besides managers "checking in" on remote employees) is to bake it into the culture. This means attacking some of the unwritten rules of many work cultures. Rules like:
Being seen at your desk assures the manager knows you're working.
Arriving later or leaving earlier must equal a lack of commitment.
Recognition/promotions go to in-office workers.
"Hard work" equals time on the clock versus net outcomes.
Critical discussions (even on career) happen in the hallways and are missed at home.
Collaboration & Networking
Digital technology is having a profound effect on the 21st century organization. It is fundamentally changing the way we work, the way we manage, where we work, how we organize, the products we use, and how we communicate. Throughout the 1990s and early 2000s, global telecommunications, data networking, and the Internet moved business to a new era originally called electronic business or e-business. Today, several decades later, we have moved beyond this reality in some areas of business, while others remain largely unchanged.
To better understand how executives are thinking about these changes, Deloitte (2016) conducted an anonymous survey, entitled Future of Work, of 245 C-level executives in September 2016. The survey responses included respondents from small companies (revenues less than $50 million) to large (revenues greater than $10 billion). The responses also reflected a range of geographic regions, namely the US and Canada, Europe, Latin America, Middle East and Africa, and Asia Pacific (not including China). Deloitte’s survey identified six themes that the C-suite needs to give attention to:
Culture is critical—and grows in importance with scale
Communication, collaboration, and connectivity are being transformed
Millennials (and Baby Boomers) are driving the pace of change
Business benefits are real—this is about getting things done in an increasingly competitive, interconnected, and fast-paced world
New digital tools are dramatically changing how we use our screen time
Leading networks and teams, not hierarchy
At its core, work in future will be more networked, more devolved, more mobile, more team- based, more project-based, more collaborative, more real-time, and more fluid. The challenge will to be make sure it is not more complicated, confusing, or overwhelming.
Market Trends Among Millennials
One of the largest generations in history is about to move into its prime spending years. Millennials, who are born between 1980-2000 are poised to reshape the economy; their unique experiences will change the ways consumer buy and sell, forcing companies to examine how they do business for decades to come.
Nielsen Company’s (2018) extensive research on millennial shopping behaviors mentioned that Reflective of their entrance to parenthood, millennials spending habits are shifting. Notably, they’re spending a greater amount of their income on baby care and family planning categories. And as their families grow, they’re buying more food as well, with Millennials spending more than other generations on easy and convenient products for families. However, some stereotypes also shine through. Millennials tend to spend more on newly growing categories. For example, they spend 80% more than the rest of the population on alcoholic cider.
Millennials are driving much of the growth in online shopping, with 61% saying they buy FMCG products online. As they enter adulthood and become parents, Millennials buy more household items, baby care and meal kits than the norm. Across generations, all consumers prefer to receive the items they buy online directly at their homes instead of picking them up in store or curbside. In terms of online shopping preferences, however, Millennials are more likely to consider an e-tailer if it offers a subscription service. In fact, three out of the five categories that Millennials purchase online are subscription based.
Millennials realize that brands can’t strive to solve all of the issues going on in the world. They do, however, look to brands to address the issues and topics that they do have control over. While being modern and relevant has its benefits (as ads that leverage current events on average had strong TV scores), brands must appear authentic when tying advertising back to an important social issue or cause.
The Future of Advertisements
Advertising is facing the dawn of a new era: Online ads proliferate and attract more and more of the advertising budget. Data has evolved into the new advertising gold and is a game changer for processes and targeting, alongside ad tech.
Based on Deloitte (2020) study, there area four scenarios for the future of advertising
Scenario 1: The Transactional You
Data is key in the first scenario. It allows specific consumer targeting with transactional advertising messages on the right channel at the right time.
Scenario 2: The Creative You
In this scenario, human creativity is the source of highly efficient campaigns that are perfectly tailored to the individual preferences of consumers and create a strong relationship between consumers and brands.
Scenario 3: The Entertained Masses
In the third scenario, creativity is the basis for blockbuster campaigns with high quality and immense reach. Brand-building is more important than transactional marketing.
Scenario 4: The Fragmented Masses
In the last scenario, brand is the differentiation factor. The aggregation of specific niches is the key to reach and relevance.
Artificial Intelligence will play a vital role in the future of advertising. AI is ubiquitous in the advertising space. AI supports decision-making and analyzes consumer behavior. Enriched with data about how consumers interact with advertising, it substantially optimizes campaigns to perform better. Implemented consistently and to its full extent, AI understands consumers better than they do themselves.