The Futures - No. 57

Major payoff for inheritors / Tiktok and media consumption / A better HIV vaccine

May 29, 2024

In this issue

The Quantumrun team shares actionable trend insights about how TikTok has changed media consumption, the wealth management industry preparing for the young inheritors, the breakthrough HIV vaccine, and Russian propaganda using AI to rewrite news.

Future signals to watch

A new HIV vaccine developed by the Duke Human Vaccine Institute produced low levels of important antibodies in a group of patients during a clinical trial, showing that the vaccine can quickly start an essential immune response. This vaccine targets a stable part of the HIV virus, making it effective against many different HIV strains.
ChatGPT has rolled out GPT 4o, equipped with computer vision, to enable even more complex tasks, such as tutoring, assisting the visually impaired, and generating better Dad jokes.
A Bluetooth connection between an Earth device and a satellite signals a new space race for global location-tracking networks, with Seattle-based Hubble Network and San Francisco-based Life360 collaborating on a satellite Internet of Things tracking system.
China has opened the country’s first large-scale sodium-ion battery storage station in the Guangxi region, marking the start of commercializing this lower-cost battery tech.
Autonomous F-16 fighters are becoming as good as human pilots, according to US Air Force Secretary Frank Kendall, following his flight in an AI-controlled jet fighter.
Singaporeans became some of the first commercial customers of lab-grown chicken meat, which are now available in a local butchery.
Scientists discovered a critical enzyme's function in carbon fixation, which could lead to engineering climate-resilient crops that more efficiently remove carbon dioxide from the atmosphere.
Recent investigations reveal that Russian propaganda websites, using AI models like those from OpenAI, have been modifying legitimate news articles to add partisan bias. These altered stories falsely accused Israel of war crimes, fueled American political debates on slavery reparations and immigration, and spread false claims about Polish mercenaries in Ukraine.

Forward this email to a friend and help The Futures reach a wider audience :)

Culturally // Trending

YouTube → It Ends With Us // X → A huge meteor in Portugal // Reddit → Going against the tide // TikTok → Google’s Veo // Instagram → Nike’s poncho-tent hybrid // Spotify → “I Had Some Help”

🤳 TikTok has irreversibly changed media consumption

TikTok has dominated popular culture, acting as a springboard for viral trends, micro-celebrities, and new forms of digital expression. Its unique algorithm, which tailors content to individual users, has made sudden fame available to everyday people, as seen with viral memes, dance trends, and background music. This has democratized influence in unprecedented ways. Through short-form videos, TikTok has changed how people consume and interact with content, making it integral to many people’s daily life and to business strategies.

The app's meteoric rise is due to its ability to cater to shrinking attention spans. Research by psychologist Dr. Gloria Mark revealed that the average attention span has decreased from 2.5 minutes in 2004 to just 47 seconds in 2019.

TikTok capitalizes on this decline by delivering engaging, bite-sized content that users can quickly digest. About 73% of consumers prefer short-form videos for learning about products or services. Consequently, TikTok has become a pivotal platform for marketers, with 56% planning to invest in short-form video content in 2024 due to its high return on investment.

Moreover, the platform's role as a search engine and source of news, particularly among Gen Z, signifies a shift in how information is accessed and distributed. Nearly 10% of Gen Z users rely more on TikTok than traditional search engines like Google.

However, the app’s dominance in the US isn’t guaranteed. In April 2024, President Biden signed into law legislation requiring TikTok’s China-based owner, ByteDance, to sell the app to an American company or else it will be banned from the country.

Actionable trend insights as TikTok continues to change media consumption:

For corporate innovators

Companies can develop employee advocacy programs that leverage their workforce to create authentic TikTok content. By training employees on content creation and providing them with guidelines and resources, companies can humanize their brand and build a genuine connection with audiences.
They can invest in interactive packaging that integrates with TikTok. By incorporating QR codes or NFC technology on product packaging, companies can direct consumers to exclusive TikTok content, including tutorials, behind-the-scenes looks, and promotional campaigns.

For public sector innovators

Governments can develop short-form videos that use storytelling, animation, and AR to educate the public on important issues such as health, safety, and civic responsibilities. By partnering with influencers, these campaigns can reach a wider audience and drive meaningful engagement.
Municipalities can invest in public art and installations designed to be TikTok-friendly, encouraging residents and tourists to create and share content. These installations can include murals, sculptures, and interactive exhibits in high-traffic areas to boost tourism and community engagement.

Trending research reports from the World Wide Web

The US unemployment rate for tech jobs decreased for the second consecutive month in April, with AI-related job postings rising to 11% and emerging tech skills comprising 26% of all tech job listings.
Our World in Data released an interactive chart on the global fertility rate.
According to the 2024 Work Trend Index, leaders struggle to transition from AI experimentation to achieving tangible business impact due to a lack of clear vision on how to use the technology.
A report from the Semiconductor Industry Association and Boston Consulting Group says the US is anticipated to increase its share of manufacturing the world's most advanced logic chips from 0% in 2022 to 28% by 2032. The country could also potentially meet the goal of 20% by 2030 set by the Secretary of Commerce.
Wired discusses how the rapid developments of laser-based weapons have launched a new defense technology race.
BSI’s survey of global business leaders revealed that employees are prioritizing mental well-being and flexibility in their career development.

💰 Wealth management sector prepares for the inheritance wave

The wealth management sector is bracing for the "great inheritance" wave, with an estimated USD $2 trillion to $3 trillion to be passed on to inheritors in 2024 alone. This massive transfer, primarily from Baby Boomers, represents the largest in history and is projected to total around USD $18 trillion by 2030. The generational shift in wealth is creating unprecedented opportunities and challenges for wealth managers, who must now cater to a more diverse and tech-savvy clientele. A notable trend is the increasing importance of female and younger inheritors, who have distinct needs and preferences compared to their predecessors.

Assets by generation, 2023

However, the challenge of inheritance tax (IHT) is creating complications. In the UK, Boomers will pass on £1.2 trillion in inheritance over the next few decades, but soaring property values and a lack of preparation could force their descendants to sell homes quickly to pay unaffordable IHT bills. Wealth managers need to consider ways to help families navigate these financial burdens.

Artificial intelligence (AI) is playing a crucial role in helping wealth management firms adapt to these changes. AI-powered advisor copilots are being used to enhance the capabilities of relationship managers, allowing them to provide more personalized and efficient services. For instance, specialized training programs and AI tools enable advisors to better understand and meet the specific needs of different client segments, including younger inheritors who prefer digital services.

The attitudes towards wealth among younger generations are also shifting, impacting how wealth management services are structured. Younger inheritors often prioritize sustainability, digital assets, and alternative investments. This demographic is more likely to engage with wealth managers who offer modern, flexible solutions that align with their lifestyle and investment beliefs.

One of the largest wealth markets, China, is seeing a surge of high-net-worth individuals under 40, which increased from 29% in 2019 to 49% in 2023, according to the China Private Wealth Report.

Actionable trend insights as the wealth management industry prepares for the great inheritance wave:

For entrepreneurs

Entrepreneurs can establish firms that specialize in personalized inheritance tax planning and mitigation strategies. These services would go beyond traditional financial advising by incorporating advanced modeling and predictive analytics to provide clients with tailored, long-term tax minimization plans.
They can create real estate investment products aimed at helping inheritors manage and capitalize on inherited properties. This could include developing platforms that connect inheritors with vetted real estate developers and investors interested in purchasing or managing inherited properties.