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The capacity to innovate is critical in the fast changing media landscape according to futurist and innovation expert, Paul Papadimitriou, while speaking at the 5th edition of the Digital Dialogue conference in Dubai Organised by Multi-Choice.
“Technologies have changed the developing world – whether it’s the world of work as seen by the so-called ‘millennials’ or the different technological perspectives of various cultures and generations” he said.
Papadimitriou said the third industrial revolution has changed lives and businesses from how we learn to how we buy – and how the speed of change can overwhelm, distract and excite in equal measure.
According to Papadimitriou, what separates us as humankind are the fact that we create tools and stories: “The tools (technology) have always been with us. Technology affects us, our behaviors, how we transact, communicate ideas, gather ideas, love, and consider the world. To prosper in a world that moves and change so fast, we need to get back to our basics: the fire around which we gather and the stories we tell”.
To this end, the understanding of the future of pay TV is influenced by global numbers and the transition to actual behavioral change multi-modal, multi-local. As such, the current challenge for pay-TV companies is to shift the focus from content delivery systems to understanding its consumer through primary data (e.g. when they watch, how long, how much, etc.)
Papadimitriou remarked that the way consumers watch TV has evolved whether it’s bitesize formats to non-linear viewing such as watching multiple content on multiple screens. “With the advent of 5G, African consumers will be able to watch TV on all platforms simultaneously”.
The foundational factors of change in technology include deflation, platforms and networks. Technology not only goes faster, but becomes smarter with increased processing power such as Whatsapp overtaking the entire SMS industry in five years, as well as shared platforms and networks connecting us to each other.
The end-user experience is becoming the key differentiator. What the acceleration of technology actually means is the acceleration of better experiences with tools that make our lives better. As such, behavioral data is the differentiator allowing an experience of choice – whether it’s faster automation, faster insights, faster networks, faster reality or faster intelligence.
It is critical for companies to understand the new consumption behaviors and mindsets of consumers. The new consumer is nomadic (they can be everywhere and anywhere); tribal (gathering around similarities) and singular (entrepreneurial, be who they want to be).
Papadimitriou concluded that there are many opportunities for emerging countries and should capitalize on the window to innovate. “The best innovators are like the best travelers – they’re not afraid of unknown territories. They understand who people are and the journeys they’re on. They just do it. Let’s jump”.
The 2018 Digital Dialogue Conference is a thought leadership platform facilitated by MultiChoice Africa in order to foster a better understanding of the future direction of the video entertainment industry in Africa. This is the 5th edition of the conference which was established in 2012 to create a better understanding of Digital Migration and its impact on Africa’s digital landscape. Since then, the independent and growing platform has been critical in fostering a better understanding and building knowledge on the video entertainment and Digital terrestrial markets while creating necessary conversations with thought leaders about various industry-related issues.
Anthony Osae-Brown
