Wavemaker India’s Spotlight 23 focuses on big tech platforms & emerging trends

Wavemaker India has launched Spotlight 23, a report on the top 23 strategic focus areas in digital and emerging technology for 2023. These areas include big tech, e-commerce, AI, cloud computing, Web3, digital payments, and some potentially disruptive technologies that may impact the industry and business, at large. 

In this inaugural edition, the report shares point of view and observations for the coming year. Spotlight 23 has been curated by a team of digital experts at Wavemaker India. 

Speaking on the launch of this report, Ajay Gupte, CEO - South Asia, Wavemaker said, “We've always had a strong focus on innovation and creativity, and this report proves that we're leading the way when it comes to helping our clients navigate the changes. We’re so excited to present the inaugural edition of this enriching report and I hope you find it useful as you steer through this new era of digital transformation.”

“One of the philosophies at Wavemaker is pushing boundaries and striving to set new benchmarks. Spotlight23 is intended to serve as a reference point for all marketers and relevant stakeholders across industries. In this report, we hope to act as a reference point and raise awareness of upcoming trends. There are a number of trend highlights in the report, including Metaverse, WhatsApp Business, big companies using digital advertising to increase revenues, innovation in networks and connections, retail media expansion, a new type of shopping experience infused with technology, new stuff in the creator landscape, and a lot more,” he said. 

Commenting on the launch of the inaugural edition of this report, Vishal Jacob, Chief Transformation & Digital Officer, Wavemaker India said, “The world around us is evolving at a much faster pace than anyone of us imagined. It is, therefore, imperative for us to adapt to these changes. Spotlight 23 is an attempt by our team to chart out potential disruptive technologies that may show some advancement in 2023 and how they will have an implication on the businesses.” 

The report highlighted how Meta is diversifying with a focus on Reels, WhatsApp Business, Marketplace and Metaverse, while Apple is now planning to increase revenue from digital advertising. 

Google Search, on the other hand, is facing some regulatory challenges that are likely to worsen, whereas Netflix will focus on advertisements, a no-password-sharing policy, and games to increase revenue and consumer engagement.

The report also mentions Jio Ads and its potential to become one of the country's top advertising platforms. Also discussed is Connected TV, which combines the best of both worlds - TV and Digital, and how it has become a critical touch-point for reaching out to the media-cluttered affluent audience. 

The report's e-commerce section highlights that retail media will expand, resulting in more ad inventory and better attribution. Social commerce is growing as innovations reduce the frictions in consumers' existing shopping journeys. The report mentions how VR, AR, and XR are creating more immersive shopping experiences, as well as how ONDC (Open Network for Digital Commerce) is being set up and could be big in 2023.

It further emphasises that AI is for everyone - AIaaS (AI as a Service) and no-code environments continue to democratise AI. The landscape of generative AI is the creator's best friend, and there will be an ongoing push toward ethical, transparent, and fair AI.

Another important focus area outlined in the report was the rise of privacy-focused technologies and platforms. The narrative of free speech is influencing how social networks are run. The Future of Money: Governments are implementing Central Bank Digital Currency (CBDC), and the Account Aggregator (AA) Network may become the next UPI moment. Furthermore, some futuristic technologies may be introduced as early as 2023, the report adds.