Digital asset management (DAM) was first introduced in 1992. Canto Software launched the first DAM software called Cumulus. It provided thumbnail previewing of mostly photos and videos that can be searched and retrieved. Back then, it already used metadata indexing. Although it was intended for file sharing as well, the first DAM solution did not provide the ease of sharing files.
At present, the DAM industry has been booming. It has evolved from a simple library of photos and videos to a hub of various digital content. Of course, you can still store images, videos, documents, and other simple file formats.
It is also used for other digital file formats, such as NFTs, cryptocurrencies, domains, etc. It is still one of the most time-saving and cost-efficient tools used by investors not just for storing files, but to manage digital assets as well.
Digital asset management for domain investors isn’t new. Nevertheless, in this fast-paced world of the digital era, you must be able to adjust to the ever-changing needs of your business.
You must always be aware of the latest trends of the resources you may need to achieve your business goals. One of these resources to look into is the DAM system. It is continuously evolving, adapting to the changes of the virtual world. Let us take a look at the future of the digital asset management system.
Digital Asset Management System Trends and Innovations
Email Automation
Have you ever experienced replying to emails from different senders with the same inquiries? What is the brand all about? What is the lead time for the delivery of the asset? What are the procedures and guidelines for dealing with certain transactions?
Answering these emails repetitively consumes a lot of time. DAM email automation will help you send responses to these kinds of emails with automatic replies. You can customize responses for these generic requests and inquiries.
Accessibility
Having to retrieve a file from DAM while using a third-party app can be a bit of a hassle. For example, if you are working on your brand logo for your domain, and you need an image from DAM, you have to open the digital asset management software, search for the file, retrieve it, and then use it in the third-party app you are using for the logo.
How about never having to open another window for DAM and accessing the photo directly from the app you are using? This innovation makes access to your digital assets in DAM easy for you to use in third-party apps.
All-In-One System
As discussed above, accessibility is one key trend that would benefit you when you use third-party apps. But what if you only need to do a simple edit on your file? Digital asset management system is also leaning in to be an all-in-one solution. You may be able to open the file in DAM, do the edit from there, and save it.
If you are setting a filter for a bulk of images, you may select the necessary files and edit them all together. You may also post and share from DAM itself. You will not need to retrieve the file and save it in your hard drive, edit it, then transfer it again to DAM. This will also save some space in your hard drive.
Image and video editing done within the DAM software would be a breeze. You can optimize the quality of your photo, convert it into another format, crop or resize them, and even delete certain photo details you want to be erased from the image. You may be able to do the same with your videos. You can minimize the file size without affecting its quality. You can also rotate, crop, or erase some elements within the video.
Artificial Intelligence Integration
Artificial intelligence is not just taking over the virtual world, but even taking over some physical households and offices. And as we now live in the AI era, it is not difficult to imagine that artificial intelligence will be integrated with DAM platforms.
There are various AI features that we are bound to see in the DAM evolution. Below are some of the expected trends and innovations that incorporate artificial intelligence in digital asset management.
Automated tagging
As a domain investor, you may have several files in your DAM. All of which need to have accurate, and updated metadata. With AI, your digital asset management tools will be able to auto-tag your digital assets based on several criteria.
It can be the date of creation, the content relevance, the name of the creator, etc. If it is an image, it can be tagged by its characteristics, like color, shape, or maybe even by face recognition. With the correct metadata, it will be easy for you to find your file for repurposing or reusing. No more forgotten domains and duplicate versions.
File Credibility Check
Nowadays, content authenticity is somewhat under scrutiny. AI-generated digital content is everywhere. It is because AI generator apps and websites are easily accessible and used. At the same time, some investors have no problem using AI-generated content. It is still important for a domain investor to maintain his credibility and trustworthiness to promote loyalty to his brand.
While you may have a team working under you creating content and images for you, it is essential to check if their output is original and not just AI-generated. With the future of artificial intelligence integration in DAM platforms, we may expect that AI will be able to check the authenticity of the digital content you wish to be inspected. As you build your domain brand, it is vital that your content comes from an original concept. Presently, AI-generated text and images cannot be copyrighted as well.
Smooth Workflow
With artificial intelligence, you may just have to set the right workflow or matrix for approvals and other collaborative tasks. Once a user is done with his specific task, it will then automatically be sent to the next user in line. Automatically routing the task to the right person in charge will prevent task overrides, delays, errors, and miscommunications in the process. This will also provide consistency in the workflow.
Analytics
With the right algorithm, AI can provide you with an analysis of your domain performance. It can inspect the usage of your domain, the profitability of your domain, the lifespan of your domain, and so forth. It will give you an idea of what relevant domains are applicable to your specific audience. It provides you with data on user interest and behavior.
This artificial intelligence analytic tool can also give users related suggestions on your portfolio based on what the user often searches and views. With the analysis given to you by DAM’s AI, you will be able to make decisions on how to maximize your investments for a higher return on investment (ROI). At the same time, you will know if some of your domains are not performing well. The AI analysis will guide you on your next steps with regard to these underperforming domains as well.
Security
One of the most important aspects to consider as a domain investor, or any other investor for that matter, is security. You must always have security as one of the top priorities with regard to your assets. Digital asset management provides security by giving the digital asset manager the right to control who grants access to certain digital files.
Just like having control of your house, you only give keys to your house to those who you trust, but what if a break-in occurs? It is not impossible that this would happen to your secured digital assets as well. However, with artificial intelligence, you may expect that security breaches will be flagged. You will be alerted when prohibited access to your files takes place.
AI may also give you an audit report on the usage trail of these digital assets. This is to know if unnecessary users have gone through certain files in your DAM. This is to protect your assets from unauthorized use, downloading, or sharing.
Summary
In summary, digital asset management will always be an excellent investment for domain owners. From its early stages in the 90s, it has continuously evolved and adapted to the needs of the fast-growing digital age.
It is a must for investors to be aware of these changes, trends, and innovations this system has. Some of the key trends to look out for are automation, accessibility, flexibility as an all-in-one system, and most importantly nowadays, its artificial intelligence integration.
There are several DAM solutions available for you to choose from. It is best to select the right DAM system that would help you run your domain investing business smoothly. Remind yourself of your business goals and pick the one that best suits them. But keep in mind that changes are constant, so you must choose the software that is adaptive to these changes and that has no problem keeping up with the trends. If you are just starting to invest in domains and have not utilized a digital asset management system yet, then it is about DAM time.