About 14 years ago, when social media was already gathering steam, my strategy team and I concluded that an important priority in 2050 would be for people to keep their privacy and anonymity. And that only affluent people would be able to pay for it. Turns out we were off by about 20 years.
The excellent article by The Atlantic aptly titled "The Last Days of the Barcode" summarizes it all (link in the comments). If you have 10 minutes to read it -or 30 minutes to listen to the episode-, it will spin your wheels. Key excerpts:
- The barcode is a simple, 50-year-old technology invented in the US in the 70’s;
- Once the barcode arrived, besides accelerating cashiers’ speed and reducing mistakes, stores could figure out exactly what was selling. And it made it easier to just test out a product.? That is why it abetted the rise of megastores, enormous variety of products, and it became a vehicle for people in corporate America to get very rich;
- The barcode deeply changed us as to what we expect, how fast we expect it, how much of it we expect;
- It is the last years of the barcode as we know it as GS1 (the entity that "governs" the barcodes) has decided that starting in 2027, instead of getting a UPC barcode, you can put a QR code on products.
- The barcode not only has made a pretty profound difference in everybody's lives: it has made entire countries’ economies;
- We get more information from the QR codes, and we already are paying the price and it is just the beginning: Because a QR code, unlike a barcode, is scanning us every time we scan them, keeping track of us --> back to my first point: it will be the demise of privacy as there will be companies that would be able to create specific profiles of each of us;
- Modern marketing is all about data harvesting and targeted advertising, and it will be powered by the QR code;
- There is a multitude of startups right now, working on the race against Blue Chip companies for machine learning and AI to improve personalized data harvesting and targeted advertising;
- And last but not least: there will be a market for people who want to keep their privacy and not be targeted by advertisers. And there will be startups offering it to them.
There’s so much more about this topic to talk about; and I’d love to get your thoughts on it. Looking forward to reading your comments!
Director, Information Technology
9 个月Thank you Nadia V. Gil for sharing !!
Strategy & Operations | Brand & Product Marketing | Organizational Change | Wharton MBA | Ex-Deloitte Consulting
9 个月Great post Nadia! Thanks for sharing. Lots of excellent considerations here - it's critical to balance the customization that these technologies can avail with the increasing need for data privacy and security.
democratizing dentistry with dental care on demand while helping dentists fill chairs!! ?????? Techstars Founders Catalyst with J.P.Morgan Alum '23 | Executive in Residence | Serial Entrepreneur | Adjunct Professor
9 个月Definitely a timely topic to touch on!
Thank you for sharing this Nadia V. Gil. I think Robert C. Wolcott will also enjoy your post as it relates to our forthcoming book: Proximity (https://www.amazon.com/Proximity-Breakthroughs-Just-Time-Transform/dp/0231207581) With companies shifting to QR codes, consumers gain access to greater personalization and information allowing companies to offer enhanced service. Yet there's always the tradeoff - when does it become an invasion of privacy? You bring up important considerations.