Predictions for 2023

Another year has flown by and as always it is a time to reflect, predict and plan for the new year. The past year was filled with challenges and I don’t see 2023 improving. Of course there are always opportunities in any given situation and it’s best to keep a positive state of mind. With that, let’s see what I feel 2023 has in store for us.

1. The economy will continue to be challenged with inflationary pressures, supply chain disruptions and geopolitical developments. Interest rates will continue to rise and despite this, inflation will continue to rage in a volatile manner. This will impact the housing market, especially home builders that need to reduce their selling prices in order to move inventory. However, with inventory being so low, it will lessen the capitulation of prices
2. There will be a shakeout of startup companies as many will run out of funding. Especially in the cryptocurrency sector. The crypto market itself will experience a lot of sideways action and potential downward movement during the first quarter of the year. However, a bottom should be reached by the second quarter and a gradual reversal take place
3. The deployment of AI and robotics across numerous industries will continue to increase. Significant productivity increases will be realized as companies discover how to effectively leverage these technologies to gain operational efficiencies
4. AI will become disruptive in the creative sector. Creative work was one of the last holdouts for the absolute need for human resources. However, breakthroughs this past year with writing and even AI generated art is challenging perceptions of how to produce creative work

In regards to number four above, I decided to experiment with ChatGTP, the AI technology that is getting a lot of attention lately. I asked it to provide predictions for marketing communications in 2023. To be fair, the website does state that it is best used for data in the past through 2021. But it is interesting nonetheless. Here is the response I received:

It is difficult for me to make specific predictions about the future of marketing, as there are many factors that can influence trends and strategies in this field. Some things that may continue to be important in marketing in 2023 and beyond include:

1. The use of data and analytics to inform marketing decisions and target specific audiences
2. The increasing importance of social media and digital marketing channels, as well as the integration of these channels with traditional marketing efforts
3. The need for companies to be agile and adapt to changing customer needs and preferences, as well as new technologies and platforms
4. The use of personalization and customization to deliver targeted and relevant messages to consumers
5. The continued trend towards content marketing, including the use of videos, podcasts, and other forms of multimedia content
6. The importance of building and maintaining a strong brand presence, including through the use of consistent messaging and visuals across all marketing channels
7. The increasing focus on customer experience and the need for companies to deliver seamless and convenient experiences across all touchpoints

Overall, it is likely that marketing will continue to evolve and change as new technologies and platforms emerge, and as consumer preferences and behaviors shift. It will be important for companies to stay informed about these changes and to adapt their marketing strategies accordingly.

After regenerating the response, it added:

The role of artificial intelligence: AI and machine learning will likely play an increasingly important role in marketing, helping businesses to automate certain tasks, personalize experiences, and make better decisions based on data.

Pretty interesting right? However, as I reviewed the initial response, it really isn’t anything groundbreaking. All of the points are areas that have been important and relevant for more than the past ten years. It’s really nothing new. The second response after hitting the “regenerate” button was more interesting and relevant to the current day. But even so, that was news from a couple years ago.

In my humble opinion, AI will be utilized to create more efficiencies, even in creative areas. However, human intelligence is still needed to provide critical thinking and intuition in order to generate innovations, predict future trends and ultimate creativity. Humans have the ability to tap into divine intelligence or what I would call true intelligence. This ability provides us with inspiration to make breakthroughs in our lives and for others around us. AI should be leveraged as a means to stimulate the creative mind and realizing efficiencies in operational tasks.

2023 will be an interesting year indeed. Full of challenges but remember, there is always ways to find opportunities with any challenge you face. You must seek the way to flip it for your benefit. Maintaining this mindset will keep you afloat rather than succumbing to defeat. Whatever 2023 has in store for us, let’s continue to show up every day and make the best of whatever comes.