The 2023 Consumer Electronics Show (CES) in Las Vegas showcased the latest and greatest in technology, focusing on the future of advertising and marketing.
As I processed all the content and conversations I had at CES this year, my key takeaway was the importance of collaboration and new partnerships required to succeed in the ever-evolving digital landscape.
A leading topic for Marketers at the conference was Connected TV and Streaming. As more and more consumers turn to streaming services for entertainment, businesses must work together to develop new ways to reach and engage with these audiences. As a result, brands are seeking new partnerships to effectively create more engaging and effective advertising that resonates with their target audiences. According to Statista, Connected TV advertising expenditure is projected to surpass $38 billion by 2026.
Another area where collaboration is crucial is in the realm of emerging technology and measurement. As 5G networks and other technological innovations continue to roll out, businesses must work together to develop new ways to take advantage of the increased speeds and the interconnectivity new technology offers. These technological improvements enable the development of new advertising formats and experiences, like Augmented Reality, Shoppable Live Streaming, and personalized Connected TV ads.
Delta's launch of its Delta Sync program is an excellent example of how collaboration across brands serves consumer needs. The program brings together partners like T-Mobile, American Express, Resy, and Starbucks, to deliver truly personalized and seamless customer experience experiences within its content hub - All with free high-speed wifi on board its flights. This kind of collaboration leaves a lasting impression on consumers, changing expectations and setting the bar for other travel brands.
Finally, you can't discuss innovation and technology without discussing artificial intelligence (AI) and machine learning. Chat GPT, anyone? Whether it's excitement or fear, new advancements in AI are eliciting a real response in the business community. The global AI market size was valued at $136.6 billion in 2022, and is projected to reach $1,581.70 billion by 2030. As I look to the future, I see incredible opportunities for us to use this technology in personalization and building more robust models for targeting advertising campaigns. The winners in 2023 will be companies that can effectively leverage AI and machine learning and create more engaging and effective advertising that resonates with their target audiences.
In conclusion, the 2023 Consumer Electronics Show in Las Vegas highlighted the importance of collaboration and new partnerships in the ever-evolving digital landscape. Brands that can effectively source and form new partnerships will win consumer hearts and minds, and the technology/media companies that adapt to the changing landscape rather than focus on the media topic of the week will win a larger share of wallets.
No matter what side you're on, the world continues to change, so we must look to create experiences that will change expectations in the way that Delta's Delta sync program has set a new bar for travel.
