Source: Oakes | January 30, 2019

Malmgrem: explained how 'data is the new oil'

Malmgrem: explained how ‘data is the new oil’

Economist tells ad industry of ever-invasive methods that brands can use to target consumers.

Advances in facial-recognition technology will allow brands to go “beyond anything Cambridge Analytica could ever dream of” in terms of targeting consumers, the ad industry was warned today.

However, Dr Pippa Malmgren, an economist and founder of drone maker H Robotics, also struck an optimistic tone at the Advertising Association’s Lead conference today by insisting that the UK can succeed after Brexit.

She explained how advertising’s future is rooted in ever-more sophisticated methods of data collection and interpretation for brands. Without naming specific brands or how they were regulated, she gave examples of cameras inside TVs that scan viewers’ reactions, sensors in clothing that track how often you wear certain items and shoes that can use walking data to determine how healthy a person is.

Malmgren, a former advisor to US president George W Bush, said the industry needs to pay particular attention to SenseTime, the Chinese facial-recognition specialist, which has become the world’s most valuable start-up since launching five years ago.

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