Steve has linked to a great paper from Edelman on digital trends. Well worth a read. The five trends are:

1. Satisfaction Guaranteed – Customer care and PR are blending as consumers use social media to demand service. We are all over this at Dell – I believe Dell was the first F500 company to imbed a customer support team in its PR function.
2. Media Reforestation –  The media is in a constant state of reinvention as it transitions from atoms to bits. So is the PR profession.
3. Less is the New More – Overload takes its toll. Gorging on media is out. Selective ignorance and friends as filters are in.
4. Corporate All-Stars – Workers flock to social media to build their personal brands, yet offer employers an effective and credible way to market in the downturn
5. The Power of Pull –  Where push once ruled, it’s now equally important to create digital content that people discover through search

The one trend I would add is:

6. Here is Everywhere — Mobility changes everything. From iPhones to Netbooks, always-on mobile devices are changing the way information is accessed and consumed.