The elephant in the room is still Facebook though. A massive 70 per cent of American adults use the social network and almost a third of that group regularly get their news from the platform. Make of that what you will, given what we know about the veracity of some “news” on social media.
The fact these platforms hold such sway these days is a perfect illustration of why clear and accurate news and analysis matters. And also why the subject matter and issues bluenotes covers will continue to evolve as the landscape changes.
What will banks look like in 20 years time and how will customer expectations have evolved? How far will the big technology companies have encroached into financial services by then and will the fintech community continue to innovate and help deliver new products? Will regulators have to design new guidelines and enforcement regimes to keep all these new developments in check?
You only have to look at the current pace of technological change to get an idea of the challenge. The statistics are dizzying. For instance, look at how it takes a new technology to reach 100 million users.
Back in 2004 it took a fledgling Facebook four and a half years to reach 100 million users. Fast forward to 2019 and it took new platform TikTok just nine months to reach that goal.
But faster speeds were to come. Last year and Open AI’s generative artificial intelligence tool ChatGPT raced to 100 million users in just two months and then earlier this year Facebook’s owner Meta’s new social media app Threads achieved it in just five days.
If you cast your mind back to 2014, it was a different time. The Marvel Cinematic Universe was a relatively new and novel concept, Taylor Swift had just released a little ditty called “Shake It Off” – you might have heard it one or twice! – and Tony Abbott was finding his way as Australia’s new-ish Prime Minister.
Around that time the ANZ board visited Silicon Valley. It clear from that fact-finding mission to the frontline of technological development that dramatic disruption in information and communication was accelerating and companies would have to rethink how they interacted with their customers and all stakeholders.
And thus, bluenotes was created as Australia’s first dedicated corporate newsroom. It was a pretty bold experiment at the time and, as Andrew noted at the time, we are both observers and participants in the issues we cover.
“The overriding lesson for us here at bluenotes is we are not distant observers of these trends about which we publish. They affect us too. We must constantly reassess not just what we are publishing but how we are publishing it.”
“The one thing we know about the audience bluenotes is pitched to is you are already part of a social world, your habits are changing as new platforms and new technologies emerge, we have to be prepared to evolve too.”
And evolve we have. We’ll continue to chronicle these changes as well as highlighting the issues important to ANZ staff and the broader community. The importance of diversity and inclusion in the modern workplace has also taken great strides and will continue to be a key focus.
And we always welcome feedback or suggestions from our subscribers at firstname.lastname@example.org.
Thanks again for your support – and if you haven’t, subscribe here to bluenotes.
Brett Foley is managing editor of bluenotes