The Futures - No. 45 - Quantumrun Foresight

In this issue

The Quantumrun team shares actionable trend insights on Millennials taking the reins from Boomers, how AI is evolving the marketing and advertising sectors, China accelerating its shift to robot workers, and left-leaning media blocking AI web crawlers.

Future signals to watch

• In 2022, China led the global market in robotic installations, reaching 290,258 units, outpacing the combined total of the rest of the industrialized world, with Japan following as the second-highest at 50,413 units. With China’s shrinking and rapidly aging workforce losing its cost competitiveness against younger Southeast Asian peers, such heavy investments in robotics are a strategy to retain the nation’s status as the world’s manufacturing center.
• Startup Enhanced Games aims to revolutionize competitive sports by embracing scientific innovation and openly encouraging performance drugs/enhancements, focusing on athlete safety and comprehensive health protocols.
• A robot on the International Space Station (ISS) performed simulated surgical procedures under the control of a large team on Earth, with astronauts celebrating this milestone for future deep space exploration.
• Killer robot swarms are about to become the future of war, with the US military piloting “collaborative combat aircraft.”
• The premium lounge experience is being transferred to electric vehicle (EV) charging stations, courtesy of Porsche’s first Charging Lounge in Germany (complete with snacks and drinks).
• Equatic's technology, developed by the University of California Los Angeles (UCLA) for removing carbon dioxide from seawater while producing carbon-negative hydrogen, is moving forward with a $20-million full-scale demonstration plant in Singapore, capable of removing 3,650 metric tons of CO2 annually.
• The electric vehicle dream is finally coming true in the US after years of slow adoption.On a related note, China’s largest EV maker, BYD, builds its own shipping line to support its massive car exports.
• Canada-based AI detection startup, Originality AI, found that nearly all mainstream news sites, including The New York Times and The Guardian, block AI web crawlers, with OpenAI's GPTBot being the most commonly blocked. In contrast, top right-wing news outlets, such as Fox News and The Free Press, do not block any major AI scraping bots, raising concerns about how this could influence training models’ biases.

Culturally // Trending

YouTube → Deadpool & Wolverine //  X → The Devil Wears Prada reunion //  Reddit → When you summon a volcanic eruption //  TikTok → Sora magic //  Instagram → WcDonalds //  Spotify → “Training Season”

👥 Changing of the guards: Millennials are now the world’s largest generation

Millennials, born between 1981 and 1996 (28-43 years old as of 2024), have officially surpassed Baby Boomers as the largest living adult generation globally. As early as 2021, the World Economic Forum reported that Millennials have officially taken over, comprising 23% of the global population. 

According to Statista, there were 72.2 million Millennials in the US in 2022 (latest available data), overtaking the 68.6 million Baby Boomers (1946-1965, or 57-76 years old in 2022).

Similarly, Statistics Canada reported that as of July 1, 2023, Millennials had become the dominant generation in Canada, overtaking Baby Boomers (the largest demographic for 65 years). Moreover, the Millennial population increased by over 457,000 from July 1, 2022, to July 1, 2023, due to immigration.

Politically, Millennial influence will dominate government decision-making as their voter influence will eventually smother the Boomer vote by the late 2020s. Millennials lean toward liberal and progressive ideologies, strongly emphasizing social justice, environmental sustainability, and inclusive policies. (These preferences will evolve as they grow older and inherit Boomer wealth.) As this younger cohort becomes more politically active and assumes leadership roles, these values are expected to influence policies related to climate change, education, healthcare, and civil rights.

In the workplace, Millennials’ preference for work-life balance, meaningful employment, and flexibility is prompting employers to rethink traditional office environments and hierarchies. Companies are increasingly adopting remote work policies and flexible hours, and emphasizing corporate social responsibility to attract and retain this generation’s talent.

In commercial sectors, Millennial preferences and behaviors are driving demand for new technologies, sustainable products, and services that align with their values. Their inclination towards experiences over material possessions, coupled with a cautious approach to financial commitments, is transforming traditional sectors like real estate and automotive. The rise of the sharing economy, exemplified by Airbnb and Uber, reflects Millennials' value for access over ownership, challenging industries to innovate and adapt to a consumer base that prioritizes convenience and flexibility. 

Actionable trend insights as Millennials become the dominant generation

For entrepreneurs

• Younger entrepreneurs and influencers experienced in creating brands targeting Millennials and younger demographics can partner with established Boomer brands to develop product lines targeting Millennials.
• Entrepreneurs can develop platforms that combine the sharing economy with sustainable living practices, specifically targeting Millennials' preference for experiences over possessions and their environmental consciousness. An example could be a service that facilitates sharing household tools and appliances within a community, reducing the need for individual ownership of infrequently used items. In fairness, there is a possibility that as Millennials inherit Boomer wealth, they may begin shying away from the sharing economy altogether.

For corporate innovators

• Banks and financial services providers may need to gradually enhance their offerings to Millennial customers, especially as they begin inheriting Boomer wealth by the mid-to-late 2030s. Even before this transfer, Millennials will be increasingly influential in the financial planning and wealth management decisions of their aging parents.
• Consumer brands and products that traditionally appeal to older demographics will need to gradually experiment with new marketing campaigns and/or product lines that introduce their value to Millennial consumers.
• Brands can use blockchain technology to include a digital passport on each garment, detailing its entire supply chain journey from sourcing materials to manufacturing, to highlight fair labor practices and environmental impact. Additionally, customers could customize aspects, such as color or trim, at the point of purchase, reducing waste from overproduction. 

For public sector innovators

• Political parties may see value in prioritizing resources to survey Millennial voters in the districts they serve to get a deeper sense of their current and future priorities. These insights can be used to craft policies that would drive these younger voters to the ballot box in upcoming elections.There is also value in political parties mentoring/developing younger Millennial politicians who can more easily reflect and relate to the growing Millennial demographic.Government agencies will experience similar benefits from crafting recruitment policies geared toward hiring a younger demographic, especially for digitally-enabled service modernization programs.
• As Boomers age deeper into their senior years, more public resources will be needed by municipalities to upgrade urban and suburban infrastructure to make communities safer for these seniors to navigate independently.

Trending research reports from the World Wide Web

• Venture capitalist Matthew Ball analyzes why the gaming industry is struggling post-COVID.
• By 2028, US community solar installations could generate double the energy of 2023’s installations.
• Bloomberry analyzed the number of freelance jobs posted post-ChatGPT release and discovered that writing jobs decreased by 33%, translation roles by 19%, and customer service positions by 16%. (Other roles had job post increases, though, like graphic artists and web designers).
• According to a report by the nonprofit The Coalition for Innovative Media Measurement (CIMM), only 54% of US programming expenses are forecasted to go to Multichannel Video Programming Distributors (including cable TV) in 2025, down from 70% in 2022.

🖥️ The marketing industry is adopting AI solutions - fast

In January 2024, Google introduced Gemini, an artificial intelligence (AI) large language model (LLM), into its advertising solutions. Gemini aids advertisers in constructing higher-quality Search campaigns through a conversational experience that generates relevant ad content, including creatives and keywords, based on the advertiser's website URL. This integration has led to a notable improvement in campaign performance, with a reported 42% increase in the likelihood of small business advertisers publishing Search campaigns with "Good" or "Excellent" Ad Strength, correlating to a 12% rise in conversions on average for ads that achieve "Excellent" Ad Strength.

Meanwhile, major advertising firm WPP collaborated with NVIDIA to develop a content engine using NVIDIA Omniverse™ and AI to produce large-scale, high-quality commercial content. This engine enables the integration of 3D content creation with generative AI, resulting in photorealistic digital twins and personalized advertising content. The engine can produce large volumes of content efficiently, enabling brands to engage consumers in more immersive ways while maintaining brand consistency.

In January 2024, Publicis, the world's largest advertising group by market value, announced plans to invest 300 million euros in AI over the next three years, aiming to become the industry's first AI-powered intelligent system. The investment is part of a broader strategy to integrate AI into its operations, with half of the 2024 investment allocated to upskilling and training, and the other half to technology, licenses, software, and cloud infrastructure. 

Other brands are jumping into AI-driven marketing automation as well. For example, through partnerships with Bain & Company and OpenAI, Coca-Cola has used generative AI for various purposes, from digital and experiential channels to developing new product flavors. These initiatives reflect a broader industry movement toward using AI for consumer-facing and internal marketing applications, enhancing personalization at scale and streamlining content creation processes. 

Coca-Cola recreates its iconic polar bear mascot via generative AI

Actionable trend insights as the marketing/advertising industry adopts more AI solutions

For entrepreneurs

• Entrepreneurs can use the same AI tools increase the volume and quality of the advertising and marketing efforts they apply to their small and medium sized businesses. However, in most cases, they may need to provide training to themselves or their MarComm employees on how to use emerging AI tools effectively or just outsource the work to dedicated AI marketing agencies.
• Similarly, entrepreneurs with existing AI marketing skill sets can create dedicated AI marketing agencies that support local SEM clients to scale their lead generation goals.

For corporate innovators

• Companies can use AI to create immersive, augmented reality (AR) shopping experiences that blend the convenience of online shopping with the tangibility of in-store visits. For example, a furniture retailer could offer an app that not only visualizes how a piece of furniture would look in a customer’s living space but also suggests complementary items based on the room's dimensions, color scheme, and the customer’s past purchasing behavior.
• Corporations can integrate AI with AR to create packaging that displays interactive content, such as usage tips, recipes, or brand stories when viewed through a smartphone app or smart glasses.  A beverage company, for instance, could use AR-enabled labels that show customers cocktail recipes or invite them to participate in a sustainability challenge, building a community around the brand values.

For public sector innovators

• Government agencies can capitalize on AI to foster community engagement and promote sustainable living practices. By deploying AI algorithms that analyze community feedback, social media trends, and local news, public sector entities can identify the most effective channels and messaging for promoting initiatives, such as recycling programs, public transportation use, or local events. 
• Municipalities can use AI to analyze data from social media, travel blogs, and review sites to identify individual preferences and trends in travel experiences. For instance, a city known for its culinary scene could use AI to identify food enthusiasts and send personalized guides to hidden gastronomic gems, cooking classes with local chefs, or food festival itineraries. 

Outside curiosities

• Lenovo released a transparent laptop screen, fulfilling sci-fi fantasies.
• Netflix officially entered Broadway with its first play, “Patriots.”
• Branded real estate is becoming a thing, with Mercedes-Benz opening its mixed-use building in Miami, Florida.
• It’s not enough that Uber’s rates surge during peak hours, now Wendy’s prices, too? 😮💨
• A smart vending machine error alerted the University of Waterloo that its machine supplier was using facial recognition.

More from Quantumrun

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See you in The Futures,

Quantumrun team