Freehand Circle is both a consultancy and a think tank.
As part of our think tank’s content efforts we are gathering perspectives from innovative trailblazers across all spaces. Freehand Circle asks industry leaders three key questions about the past, present and future. The questions are kept standard regardless of one's position or area of expertise.
Sreejith Partha is Founder and CEO of Practical Logix, a growing product development, analytics and digital transformation shop located in Los Angeles. Their clientele roster spans a wide amount of industries and includes: TMZ, Paramount, AT&T and ADP. Sree leveraged his substantial engineering and software development skills to found Practical Logix in 2014, but the company's value proposition is not based on technology. Partha emphasizes,"empathy being our core value, we push limits to innovate and solve problems beyond the obvious."
1. What is the most important trend happening in tech or marketing right now?
Artificial Intelligence has been the most important trend in the last few years, and the reason for its enduring significance is because AI is not limited to one particular vertical. AI concepts can be reused and applied across many realms, whether it be manufacturing, computer vision, self-driving cars, etc. When any field such as AI evolves like it has, major players such as Google, Microsoft and Amazon invest significantly in its research, which expands its applications. The most common investment in the foreseeable future is turning AI into a service. This approach provides the following benefits:
We will see a wide-spread adoption.
Educational institutions will make AI a feasible item in the curriculum at earlier stages of learning.
A larger community starts to evolve around it, and a good portion of them are contributing back.
2. What will be the most vital development that happens in tech (esp marketing tech or Martech) over the next decade?
Over the last several decades, marketing has been perceived as riskier investment — relative to other departments — for an organization. However, data and analytics have improved the strike ratio dramatically. This transformation will be the most important aspect of Martech, at least for the next few years, and how well we answer the following questions will determine how effectively data's benefits are maximized:
How do we analyze the vast amount of data, user feedback, responses and emotions into an insightful matrix?
How do we create content based on said insightful matrix?
How do we automate the two aforementioned processes?
Regardless of channel, we will see more and more enterprises, small and large, making decisions based on insights.
3. Finally, what should be the most vital development that happens over the next decade?
We have to internalize that over 7 billion people can access vast amounts of information at their fingertips. The consequences of this are immense.
For example, remote working will continue expand for white collar workers. (Facebook has announced that its workspace culture is going to change, and other companies are following its lead.) The pandemic has exposed many governments' difficulties with gathering, processing and distributing credible public information and internal data. Artificial Intelligence, when applied to Big Data and Analysis, will be hugely influential, as it will affect marketing, news and media, medicine, etc.
The single component that will determine whether or not these developments are successful is credibility. If people don't trust the information they rely on to make decisions, the problems we are seeing with siloing and conspiracy-mongering in the political sphere will begin to permeate every aspect of society.