Far from becoming irrelevant, metadata for repository items will become more important but it will increasingly be created and assigned remotely. This will be by automated procedures such as indexing and text analysis and also by users and readers, through the use of tagging mechanisms. These developments will have implications for consistency between repositories and between items.
I think metadata assigned by consumers will become increasingly important and necessary, but at this point it's best to think of it as augmenting, rather than replacing, metadata assigned by creators and curators. Those people still know the material intimately, and/or have vested interests in creating good metadata for their content.
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