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What Will AI, Cryptocurrency, and Digital Advertising Look Like in 2023?
As we move into 2023, AI (Artificial Intelligence), cryptocurrency, and digital advertising will continue to shape the world. AI technology has already revolutionised many industries with the public advent of ChatGPT, from programming, web development, and healthcare to retail, logistics, and more; cryptocurrency has been gaining traction as payment and a digital store of value, and digital advertising is becoming increasingly popular because of its ability to target specific audiences compared to traditional advertising. With all these changes happening at once, it’s difficult to keep up with what’s going on in each space.
In this post, I’ll summarise what I believe is ahead for each area.
AI in 2023
For AI in 2023, we can expect to see advancements in AI-driven automation, as well as AI being used for more creative pursuits such as AI art, writing, and music. Integrating artificial intelligence into everyday products will allow us to do more with less. Many people in the industries are afraid of what AI-generated content brings, what copyright it breaks, and how it will work alongside or replace those who have the talents already.
The technology is going to improve regardless of what pushback they bring. Even if it gets blocked being used on particular platforms, people will find ways around it. My advice would be to embrace the change that AI brings and use it in what you do as an assistant to help with what you already know or do. Using AI as a replacement for what wasn’t there before (lack of knowledge or structure in the industry on your part) will be as effective as spinning a top in mud. In this situation, those who work hand in hand with it and have a goal in place will see tremendous success in 2023 and beyond.
Cryptocurrency in 2023
For Cryptocurrency in 2023, with the dismantling of many stores of value systems and High Yield Investment Platforms, culminating in the fall of FTX, the second-largest crypto exchange, many people have opted to stay away from the industry completely. I see this as a big mistake. What this should enforce is the understanding that cryptocurrency should be foremost, a decentralised financial solution, separate from centralised fiat systems, only to be linked when there is a conversion from one to the other.
This should push more people towards private wallets or cold storage for their assets. With both, this reinforces the notion of ‘your keys, your crypto’ to ensure you have sole custody of what you own, and also with private wallets, still privates the movement of assets for funds transfer using crypto as payment. For those who are focused on incredible returns, dollar cost averaging in BTC would be a viable option with the next halving of the cryptocurrency just over a year away. Historically, BTC has jumped to incredible value heights with each halving, so wouldn’t it be good to get some ‘while it’s on sale’?
Digital Advertising in 2023
For Digital Advertising in 2023, more businesses are going online to get their messages out. With the organic reach of TikTok and other platforms, they are trying ways to attain virality through the use of internal marketing teams trying the equivalent of capturing lightning in a bottle. However, the chance of reaching their target market has become much easier because of the behavioural metrics captured by these platforms and who would be most interested in the media they are producing. It allows them to stay and become loyal visitors to that ecosystem.
Many companies have been seeing the effects that this has on its users and have blocked such access to their users (Apple, and soon Google phone users) which makes it even harder to reach people on those behaviours. Thus, the price of advertising on a once cheaper platform has become more expensive for most brands. What I believe will happen in 2023 is the launch of many new ad platforms where advertisers would have access to the behavioural traits of those as micro-specific as what they do on their phones. This will increase competition for those viewers and it will not be a case of solely who can outspend to reach the client but who can provide the most relevant content to keep that user engaged on the platform (with the side product of going to the producers’ website or store but come right back to it).
Video is definitely going to be a must for all companies if it wasn’t apparent enough from the growth of such video platforms in the last few years. And putting effects on a still image may not be enough as users would need the video to create emotions, answer questions and provide experiences that make them feel they are already a part of what they are being shown.
AI in 2023 will play a role as an assistant in providing research needed on what users have responded to in the past, but human creativity and implementation are what will make the difference in what users choose, even with that information.
I hope you enjoyed my predictions on how these industries are going to change this year. If you would like even more insight into how AI, cryptocurrency, and digital advertising could help your company or business succeed in 2023 and beyond, contact me today!