LEVERAGING TECH INNOVATION IN LIVERPOOL CITY REGION

Professor Anatoli Colicev, Professor of Marketing, Strategy and Analytics University of Liverpool Management School

Digital technologies are revolutionising how brands connect with consumers, offering companies in the Liverpool City Region (LCR) the tools to enhance their brand presence and broaden their reach.

These technologies, such as social media, AI, and blockchain, enable businesses to streamline operations, engage audiences, and deliver personalised experiences. It is reported that Liverpool’s digital sector generates an estimated £2.9 billion, which can help propel the region as a key hub for innovation. Brands can leverage social media platforms to create unique brand experiences that reflect the city region’s identity. A local bakery might use Instagram Reels to showcase its connection to gastronomic traditions. Similarly, a maritime logistics company could create engaging TikTok content, such as time-lapse videos of cargo being loaded and unloaded via our historic port to highlight its operations and showcase maritime heritage.

Or consider how AI can offer insights into consumer behaviour. Walking down Paradise Street in Liverpool, I am sure you will have noticed the AR/VR stands that are popular with tourists and children. But consider how a local real estate agency can optimise their operations and create brand awareness by offering virtual tours of properties, or a touristic start-up providing immersive virtual experiences of our iconic landmarks and assets to augment people’s experiences or offer remote experiences for consumers who can’t visit in person.

And how about the rise of blockchain technology, a trustless and transparent revolutionary technology of the future? A local fashion company could use blockchain to trace the ethical sourcing of materials, appealing to eco-conscious consumers. Blockchain can also allow local businesses to create payment systems that are independent of intermediaries such as banks, which can cut transaction costs. These examples provide a glimpse of how local businesses can embrace and cherish digital technologies, which can amplify the city region’s reputation. Examples of our best companies in our booming regional sectors, such as creativity, transportation, manufacturing or tourism, illustrate how a city region can grow on the wave of its innovative activities. This collective effort can create the needed energy to make LCR a top tech destination, which can attract new investments and further boost the local economy to ensure our legacy remains in sync with modern times.