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Another year in martech has flown by at a breakneck pace, with discussions about new trends, technologies, and issues occupying our days.
When I think back to 2023, the martech predictions I delivered at the end of 2022 and was largely realized. In fact, I’m going to build on them with a sort of sequel in this article.
Here are my martech trend predictions for 2023:
- AI for client experience starts to take off.
- Data governance and security are front and center.
- The Metaverse is growing.
My three martech trend predictions for 2024 go even further in each of these areas.
1. Return to the forefront towards generalized AI for Client experience
Last year’s predictions included AI moving from a primarily back-office based role to a front-office role.
In 2023, chatbot experiences have improved with better natural language processing and improved sentiment/text analysis capabilities. Voice and visual recognition technology for customer experience has also been significantly improved. Brands have even started using AI-based optimization more to improve conversion results.
In 2024, this progress will be further deepened. As generative AI and other AI-based technologies continue to evolve and populate the “AI for Marketing and Customer Service” scene, organizations will begin to endorse the use and deployment of these technologies.
Expect things like visual and voice recognition-based chatbots, IVRs, point-of-sale terminals, and kiosks. Automation of low-level customer service tasks will continue to occur through the use of technologies such as robotic process automation (RPA) and large language models (LLM).
For certain brand-consumer interactions, the line between what is human and what is machine will become very blurred.
2. Compliance issues will test governance
You’ve heard the saying, “It’s going to get worse before it gets better.”
In last year’s predictions, I talked about data depreciation (the disappearance of first-party cookies) and how the new use of zero, first, and second data sources, such as data cleanrooms , networks and exchanges, were going online… and how, therefore, brands had to consider and reconsider their practices in terms of data governance, security and confidentiality.
Well, unfortunately, while some brands have met many of these data compliance deadlines, others have not and will not.
In 2024, global, state, federal, local and regional data compliance regulations (from the new EU AI law to GDPR to laws like CCPA) will test organizations’ data governance practices . And there is no doubt that a handful of organizations will fail this test.
By not implementing responsible marketing practices – that is, using marketing and customer data responsibly – companies will face increasing fines.
This year’s record will be marked by an increase in data compliance missteps and fines.
3. Metaverse migration
The Metaverse as a topic has certainly calmed down, but has not disappeared. In fact, behind the scenes, many technology providers and end consumers of metaverse platforms have taken important steps.
For example, Meta only recently released progress on “photorealistic avatars.” In just 13 months, the pixelated avatar has become an avatar that you have to look at twice to realize that it is not a photo.
2024 will mark the year that brands begin to move from “collaborating” with metaverse providers (Balenciaga and Fortnite, Gucci and Roblox, etc.) to creating white-label metaverse platforms for their consumers.
Of course, these new adjacent environments (not just another channel) will introduce a whole new set of data, analytics and engagement challenges which I’m sure we’ll talk about in next year’s predictions !
More resources on Martech trends
The Top 7 Digital Media Trends CMOs Need to Follow in 2023
