Advertising Week has always been an important week to those in the industry, and last week I sat down with Advertising Week’s Executive Director, Matt Scheckner, to talk about this year’s Advertising Week and how it reflects the changing face of the industry. When discussing Advertising Week’s mission – Matt named education as one of the most important factors, and that’s certainly “The Way I See It.”
For the third year in a row, Davis & Gilbert was honored to sponsor the 2014 Advertising Week annual privacy/data forum, “Mission Impossible IV: Truth and Privacy.” I hosted this forum in NYC, and had the unique opportunity to talk to those who have their finger on the pulse of how exactly data and privacy are impacting the marketplace.
In a two-part session, I once again spoke with FTC Commissioner Julie Brill on the current status of data and privacy, and we discussed a wide range of critical topics that impact the advertising industry.
In the second session, top industry creatives – from agencies such as Ogilvy & Mather North America, LatinWorks, and Venables Bell & Partners – shared their perspectives on how data and technology have altered advertising, as well as their roles, and what to expect looking forward.
The Way the Industry Sees It
At the end of the first session, FTC Commissioner, Julie Brill, left the audience with three predictions on the U.S. legislative landscape, European Union vs. United States on privacy, and the impact of the Snowden revelations.
On the U.S. legislative landscape: will Congress ever enact legislation, or will the states continue to dominate legislative efforts?
A variety of states will continue to adopt data security and privacy laws, and pressure for federal data security and privacy legislation will reach a tipping point after more massive data breaches, greater awareness of consumer data collection, and an increasing number of consumers being affected by unexpected analysis of their data.
European Union vs. United States on privacy: will the divide grow wider, or will we come together?
On both sides of the Atlantic, the desire to realize the economic and social benefits of big data will drive regulators to create privacy and security safeguards that allow useful big data analytics to thrive. Regulators will become more technically sophisticated participants in this discussion, and industry will recognize the need to address fundamental consumer concerns about big data.
What are the lasting impacts of the Snowden revelations?
The industry is already responding to consumers concerns around privacy, and that will grow (rather than shrink) in the coming years. Competition based on privacy attributes of products and services is already starting, and will blossom.