As we look ahead to everything 2023 will bring, Hum has partnered with Silverchair once again for our second annual Publishing Technology Trends Report.
This year we asked Hum’s co-founder and President, Dustin Smith, to look into his crystal ball and summarize the five big trends he thinks will shake up and shape the future of the publishing industry in 2023:
- The impact of the Nelson Memo:
The recent memo from OSPT has publishers in a tizzy over the potential for a zero day embargo and unfunded mandate. Expect to see a focus on "exposure" and "compliance" as agencies work to meet the requirements of the memo, and an emergence of new platforms and aggregators in response to these challenges.
- The explosion of content types:
The traditional divide between "scholarly" and "grey lit" is rapidly disappearing, as various types of content become more prevalent in the scholarly record. Expect to see experimentation with monetization and business models, as well as efforts to combat information overload.
- Audience-first approach:
As OA meets the move from print to digital, publishers are increasingly focusing on the needs of their various audiences - including authors, reviewers, editors, librarians, politicians, members, and students - in an effort to deliver a more personalized experience.
- The importance of data and data products:
Data about people and content represents a significant opportunity for publishers, particularly those that can effectively structure and analyze it to drive insights and experiences. Expect to see more data-driven solutions for problems such as author/reviewer recruitment, alerting, personalized content recommendations, and audience engagement.
- The rise of AI:
AI is already at work in adding efficiencies to the publishing process, but new advances in artificial intelligence and open source tools are opening the door for organizations to apply AI without having to build bespoke models.
Large Language Models (LLMs) like CueBERT are trained on massive amounts of data and can be fine-tuned to perform specific tasks, making it feasible for publishers of all sizes to improve the author experience, enhance content recommendations, and more.
We also asked 12 industry experts to chime in on what they expect to see and which technology trends will drive success for publishers in the year ahead.
See what they had to say about the increasing demand for new programs and content formats, publishing tools to entice authors and advertisers, urgency of data literacy for publishing teams, and the growing potential for AI and machine learning in publishing.