Editor’s Note: Gerd Leonhard is a well-known Futurist and Author of 5 books, a highly influential Keynote Speaker, Think-Tank Leader & Adviser, and – since late 2011 – the Founder of GreenFuturists.com. Wall Street Journal called him ‘one of the leading Media Futurists in the World’. He is well-known as the Co-author of the influential book ‘The Future of Music’ (Berklee Press, 2005), and as the author of ‘The End of Control’ (2007), ‘Music 2.0’ (2008), ‘Friction is Fiction’ (2009, Lulu Publishing), and ‘The Future of Content’ (Kindle-only, 2011). His new book is “From Ego to Eco”.
Gerd is a fellow of the Royal Society for the Arts (London), a member of the World Future Society, and a visiting professor at the Fundação Dom Cabral in Brazil. A native German, he now resides in Basel, Switzerland.
eTalk’s Niaz Uddin has interviewed Gerd Leonhard recently to gain his ideas and insights about Big Data and the Future of Media, Marketing and Technology which is given below.
Niaz: Dear Leonhard thanks for joining us in the midst of your busy schedule. We are honored and thrilled to have you at eTalks.
Gerd: My pleasure.
Niaz: At the beginning of our interview, can you please tell us about Big Data? How is Big Data revolutionizing our life and work?
Gerd: I define Big Data as the result of exponentially increasing velocity, variety, volume, virality and value. All of us are generating increasingly large amounts of data, whether it’s by using Google, or sharing a location, rating a site, tweeting, facebooking, photo uploading etc. – and this is primarily driven by the Social-Local-Mobile SoLoMo revolution on the Internet. Once this data can be harnessed – and safeguarded i.e. refined and permitted – it will allow for substantial cost savings (such as with networked public cars, logistics, p2p energy etc.) as well as for pretty dramatic new values such as prediction and anticipation offerings like Google Now and Siri.
Niaz: Why does Big Data excite you most?
Gerd: The possibility of generating real user value from the raw data, i.e. faster understanding of complex issues, realtime, customized news and content feeds, and an overall dramatically improved digital content experiences. The downside – as we have just recently discovered see my post on this, that we may all become permanently naked and subject to whatever data obsession governments may follow.
Niaz: What do you think about Big Data Products?
Gerd: They are more like services, platforms and experiences then they are products — but we are still very nascent with this; kind of like the beginning of Search, 10 or so years ago. Every major technology company, every internet portal and every media company is now diving into Big Data as the next big thing – and this connects to Social Media of course, and to The Internet of Things (IoT)
Niaz: How the futures of products (Big Data Products) are going to be changed?
Gerd: Big Data, unlike Big Oil, will be all about ecosystems, about creating win-win-win solutions, about interdependence and mutual respect i.e. permission and trust. Unless we have that worked out, it will fail.
Niaz: As you know, Big Data has started revolutionizing almost everything. Marketing is changing significantly. Can you please tell us about the impact of Big Data in Marketing?
Gerd: Basically, IF users allow marketers to track them i.e. if there is a ‘like’ relationship, than big data feeds are a goldmine for marketers – everything will be 99% track able, customized and personalized. Again, IF value is there for the users, this is dream come true for marketers. The main focus will be on securing and maintaining TRUST – which is why the PRISM debacle is such an issue
Niaz: What do you think about the future of Marketing?
Gerd: We wont need Marketing as we know it. It will all be about sense-making, curation, experiences, added values, timeliness and conversations (see my HBR piece)
Niaz: If you go for buying foods, soda or any house hold things you will have so many good alternatives. Considering broader area, if you go for buying smart phone, computers or even cars, you will have so many good alternatives too. But living in such an exciting era, we just have only one good search engine, only one good micro blogging site, only one good social network and only one good professional network. Are we going through any crisis?
Gerd: I think we have a multitude of platforms and services – innovation is moving much too fast!
Niaz: How can we recover this crisis? What is the future of this trend?
Gerd: The only way forward is to create some kind of ‘sustainable capitalism’ based on hyper-collaboration and new, interdependent ecosystems of money, media, energy, food and data (See ego to eco).
Niaz: As you know, as long as we are watching adds on social media or web, we are no longer human beings, we become products. Social media companies are making billions of dollars but they are not making their consumers wealthy and not even enriching the life of consumers. What are the core problems of our social media?
Gerd: As the saying goes: if you don’t pay you ARE the product. This is not per se a problem – unless we lose control of our bargains. Too much too fast too deep can become a real problem for the human brain, as well, so… deteching will increase as well.
Niaz: How do you see the world of social media evolving over the next 10 years?
Gerd: All the web is social, mobile, local – there will be no difference in online and offline in less than 7 years, and the same goes for ‘social’.
Niaz: By this time, Google has become very gigantic. It controls almost all information available on the Internet. It shows us that information it wants to. So many people have already started to believe that Google is going to control the whole world. We have also seen Google to use its monopoly power. Google’s search algorithms “decide” what is relevant and valuable. What do you think about Google’s monopoly? What could be better for the whole world?
Gerd: If Google behaves like a monolith and stops earning our trust it will die very quickly as we will feel be betrayed – this is why WE control these big web companies, in the end.
Niaz: Can you please tell us about real-time approach?
Gerd: Everything is going real-time because of mobile internet, cameras, social media, big data — in many ways a torrent of noise, in other ways a treasure trove. We will need better filters and curators.
Niaz: What are the impacts of real-time approach in everything we do now?
Gerd: Basically if it’s not realtime we won’t care.
Niaz: Dear Gerd, we are really grateful for giving us time and sharing us priceless ideas, insights and experience for eTalks community. We are wishing you very good luck for all of your upcoming endeavors.
Gerd: Thank you Niaz.
_ _ _ _ ___ _ _ _ _
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