LATEST TRENDS IN INFORMATION TECHNOLOGY

THE ATTENTION ECONOMY

Group members: Sumera Hafeez Javaria Niaz Atif Munir Minahil Khaliq

TABLE OF CONTENTS
Attention economy Ingredients of attention economy. Attention trust Technology of attention and architecture of attention economy Challenges ahead. Applications of attention economy(web spam, email spam, sales lead generation).

ATIF MUNIR

BT-08-36

What is ATTENTION ECONOMY?

ATTENTION

ECONOMY is such an economy where consumers agree to receive services in exchange for their attention

ELEBORATION OF THE IDEA

The basic purpose of attention economy is to sell something to consumer, but the selling does not need to be direct and does not need to be instant. Example: The search engines does attention economy phenomenon because they show ads in exchange for helping users find answers online.

ATTENTION ECONOMY CONCEPT

INGREDIENTS OF ATTENTION ECONOMY

1.RELEVENCY:
Consumer sees relevant contents, he/she is going to stick around and more opportunities to selling are created. The longer a user stays on a site reading news etc, the higher the chances that person will click on an ad .

HOW TO SHOW RELEVENT CONTENTS TO USER ?

This is a complex problem that can be partially addressed by recommendation engines. However, it is not possible for sites to generate relevant, personalized content unless they know the user. To personalize, web sites need to know you: your browsing history, the books you like, the music you listening to, etc.

INGREDIENTS OF ATTENTION ECONOMY

2.PRIVACY: The challenge is not just to protect consumers information, the challenge is to put the user in control of her information. In an Attention Economy, a user's information is up for grabs and can be bought and sold is misinformed.

ATTENTION TRUST
Instead, the user chooses what services he/she wants to receive, in exchange for their attention information. To help message these ideas and to protect consumers, Steve Gillmor and Seth Goldstein founded an organization called AttentionTrust.

ATTENTION TRUST

SUMERA HAFEEZ
BT-08-19

PRINCIPLES FOR CONSUMER RIGHTS IN ATTENTION ECONOMY

Property: You own your attention and can store it wherever you wish. You have CONTROL. Mobility: You can securely move your attention wherever you want, whenever you want to. You have the ability to TRANSFER your attention. .

PRINCIPLES FOR CONSUMER RIGHTS IN ATTENTION ECONOMY

Economy: You can pay attention to whomever you wish and receive value in return. Your attention has WORTH. Transparency: You can see exactly how your attention is being used

CONSEQUENCES OF PRNCIPLES
The principles define the rules for any company that wishes to participate in the Attention Economy. It follows from the rules that services should provide a way for users to export their information.

CONSEQUENCES OF PRNCIPLES

Another consequence of the rules is that a user should be able to request cancellation of their account and deletion of all their information. So rules ensure that participants transact fairly and that businesses do not monopolize users information.

Technology of Attention
Technology and the architecture of attention play an important role in facilitation of the marketplace. Here is an outline of what the Attention Architecture.

ARCHITECTURE OF ATTENTION ECONOMY

ARCHITECTURE OF ATTENTION ECONOMY

According to the diagram above, both implicit (click stream) and explicit (bookmarks) attention is captured and stored in a database. The users have control over what attention capturing system to use. Attention Trust has created Attention Recorder which captures click stream. The user also has a choice of where to store the data.

ARCHITECTURE OF ATTENTION ECONOMY

A standard protocol between the attention capturing software and storage software ensures that users have the choice. So from a technical point of view, the key to facilitating the attention marketplace is in decoupling of attention capturing, attention storage and attention recording services.

JAVARIA NIAZ
BT-08-20

CHALLENGES AHEAD

The economics of the web and information explosion are driving us towards it. Understanding the issues and technology are important, to ensure this future marketplace is healthy. Here are some of the important issues that need to be addressed: Round Table: The industry needs to create a round table, to enable organizations to govern both the business and technical aspects of the attention economy.

CHALLENGES AHEAD

Education: People need to be educated about the value of their attention and the principles of attention economy. Avoiding privacy concerns will not work, instead they need to be tackled head on.

"Attention economics" today is concerned with the problem of getting consumers to consume advertising. Media advertisers followed a model that suggested consumers went through a linear process they called AIDA A- Attention, I-Interest, D-Desire and A-Action.

RELATIONSHIP WITH ADVERTISING

MODERN ATTENTION ECONOMY

According to digital culture expert Kevin Kelly, the modern attention economy is increasingly one where the consumer product costs nothing to reproduce and the problem facing the supplier of the product lies in adding valuable intangibles that can not be reproduced at any cost.

INTANGIBLES

Immediacy - priority access, immediate delivery Personalization - tailored just for you Interpretation - support and guidance Authenticity - how can you be sure it is the real thing? Accessibility - wherever, whenever Embodiment - books, live music Find ability - "When there are millions of books, millions of songs, millions of films, millions of applications, millions of everything requesting our attention and most of it free being found is valuable."

MINAHIL KHALIQ
BT-08-57

SOCIAL ATTENTION, COLLECTIVE ATTENTION

Attention economy is also relevant to the social sphere. More specifically, long term attention can also be considered according to the attention that a person dedicates managing its interactions with others. Dedicating too much attention to these interactions can lead to "social interaction overload", i.e. when people are overwhelmed in managing their relationships with others, for instance in the context of social network services in which people are the subject of a high level of social solicitations.

Applications OF ATTENTION ECONOMY

Controlling information pollution:

One application treats various forms of information (spam, advertising) as a form of pollution or 'detrimental externality'. E-mail spam: Spammers are demanding valuable attention from potential customers, but they are avoiding paying a fair price for this attention due to the current architecture of e-mail systems.

APPLICATIONS OF ATTENTION ECONOMY

E-mail spam: Another idea in this vein is the creation of "attention bonds," small warranties that some information will not be a waste of the recipient's time, placed into escrow at the time of sending, receivers could cash in their bonds to signal to the sender that a given communication was a waste of their time or elect not to cash them in to signal that more communication would be welcome

WEB SPAM

As search engines have become the primary means for finding and accessing information on the web, high rankings in the results for certain queries have become valuable commodities, due to the ability of search engines to focus searchers' attention. Like other information systems, web search is vulnerable to pollution: "Because the Web environment contains profit seeking ventures, attention getting strategies evolve in response to search engine algorithm It is estimated that successful exploitation of such strategies, known as web spam, is a potential $4.5 billion per year businesses.

SALES LEAD GENERATION

The realization that the attention focused by search engines was a valuable commodity led to the creation of the paid inclusion model, in which search engines charge advertisers to have hyperlinks to their sites included in search results. The dominant form of paid inclusion is Pay for placement, in which advertisers bid on the rights to have their hyperlinks listed in the results for a given search query. The auction winner then pays the search engine the agreed price per user that follows their hyperlink. With the advent of paid inclusion, profit-seeking web sites could choose to legitimately pay for the attention of searchers, rather than attempting to subvert search algorithms.

CONCLUSION
We have discussed the followings: What is attention economy? Ingredients of attention economy. Attention trust Technology of attention and architecture of attention economy. Challenges ahead. Applications of attention economy.