Coming Tomorrow: The Arrival of Today

In a recently published report, author Philippe Schneider delves into the megatrends that are set to reshape the creative industries over the next 5 to 10 years. The report, organised around seven key trends, offers valuable insights into the changing landscape of creative businesses.

The seven megatrends identified in the report are:

Advanced AI and Automation: The integration of humanoid robots and AI technologies is revolutionising creative production, automating tasks such as design, content creation, and personalised user experiences. This trend not only lowers costs but also opens up new creative possibilities.
Digital and Decentralised Platforms: Blockchain and cryptocurrency technologies are transforming business models by enabling decentralised ownership structures (e.g., NFTs), alternative funding mechanisms (crypto tokens), and new digital marketplaces. This shift influences how creative works are monetised and shared.
Data-Driven Innovation: The increased use of data analytics and AI-driven insights is transforming creative industry strategies, allowing for more precise market targeting and customisation of offerings. Business models increasingly depend on data to drive innovation and competitive differentiation.
Changing R&D and Innovation Leadership: Shifts in global R&D leadership, such as the US ceding innovation dominance, can affect the pace and direction of creative technology development, influencing global competitive dynamics and investment in creative sectors.
Sustainability and Electrification Influences: Although more directly tied to automotive and manufacturing sectors, trends around electrification, supply chain sustainability, and green innovation will indirectly pressure creative industries to adapt their business models towards sustainability and eco-conscious production.
Collapsing Hardware Costs: The decreasing cost of advanced hardware infrastructure (AI chips, robots, IoT devices) lowers barriers to entry and operational costs in creative production, enabling new business models and smaller players to compete with incumbents.
Political Uncertainty: The report encourages decision-makers to question their understanding of emerging risks and potential sources of disruption, and to ensure they can respond promptly to changes on the margins, particularly in light of increasing political uncertainty.

Together, these megatrends will catalyse new business models centred on digital ownership, AI-enhanced creative processes, data monetisation, and sustainability integration in creative industries over the coming decade.

The report, which pulls together various sources including market intelligence, academic research, open datasets, consultancy and policy documents, media articles, and ethnographic work, is a comprehensive new document providing evidence and commentary on the environment facing the creative industries and businesses over the next 5 to 10 years. It is accessible, balanced, and highly informative.

The report does not, however, discuss the economic consequences or potential market failures of overseas mergers and acquisitions in the UK video games industry, nor does it mention whether it offers suggestions for policy makers and industry to harness change in the creative economy beyond fostering resilience.

Another study, conducted separately, focuses on post-Brexit migration and accessing foreign talent in the Creative Industries, while a scoping study on the economic consequences and potential market failures of overseas mergers and acquisitions in the UK video games industry has been conducted by the BFI's Research and Statistics department.

The survey findings pertain to the Skills, Jobs, and Education sectors within the UK's creative industries, and the report is expected to be valuable to policy makers and industry for reflecting on future preparedness and harnessing change to strengthen business models and foster a more resilient creative economy.

The UK's departure from the EU has altered the manner in which British firms trade and collaborate with European counterparts. This report serves as a timely reminder for the creative industries to adapt and evolve in response to these changing circumstances.

The integration of advanced AI and automation in creative production not only saves costs but also opens up new creative possibilities.
The use of data analytics and AI-driven insights in the creative industry is transforming strategies, allowing for more precise market targeting and customization of offerings.
The report offers valuable insights into how digital and decentralised platforms, like NFTs and crypto tokens, are influencing how creative works are monetised and shared.
The report emphasizes the importance of decision-makers being aware of emerging risks and potential sources of disruption in response to increasing political uncertainty.
The survey findings, which focus on the Skills, Jobs, and Education sectors within the UK's creative industries, could offer valuable insights to policy makers and industry for strengthening business models and fostering a more resilient creative economy.
The UK's departure from the EU has necessitated British firms in the creative industries to adapt and evolve in the way they trade and collaborate with European counterparts.