Despite its slow adoption, artificial intelligence in media has become an integral part of business growth. It’s already achieving ubiquity, with AI-specific terms like Big Data and predictive analytics becoming common phrases in the office.
When talking about the future of AI in publishing, we see a host of opportunities that will allow publishers to make their way to the top. In fact, one survey reveals that 75% of publishers believe AI will be crucial to their business’ success during the next three years.
But as the use of artificial intelligence media technology gains more attention, so does it gain more skepticism. In this article, we’ll discuss the role AI plays in the media landscape, its impact on key industry challenges, and how it will look in the future of publishing.
The rising role of AI in media
A common misconception across the media industry is that AI is replacing human jobs. In reality, the power of artificial intelligence in media is its ability to disrupt normal ways of working and enhance performance, for example, through automating manual tasks so that sales teams can focus on more important things – like selling.
AI will continue to be a disruptive force, reshaping everything from lead generation to customer engagement to content creation – just look at the waves that ChatGPT has made. But this disruption creates unprecedented opportunities, and is expected to drive improvements across the entire value chain:
- AI trend analysis will help writers create relevant content that their audience is actively interested in, improving engagement rates
- AI is expected to analyze reader data to offer personalized recommendations and experiences, pushing consumers further through the value chain
- AI will empower publishers with dynamic paywall control, allowing them to flex to the needs of every individual consumer
- AI will enable churn prediction modeling that empowers publishers to be proactive in re-engaging their readers before they become churn risks
All of this highlights AI’s rising role in reader revenue. By providing better data, better automation, better workflows and better products, artificial intelligence in media industry practices will help publishers collect the scarcest resource of all: people’s time and attention.
Succeeding in the ‘attention economy’
We are already in an attention economy where publishers are constantly vying for readers’ focus and engagement. Legacy ways of marketing to consumers, such as through traditional sales funnels, will no longer be enough for publishers to survive in the new media landscape.
As demand for instant gratification rises and consumer expectations continue to change, we can expect the attention economy to dominate the future of media, and those who are implementing AI tools now will be the ones thriving in this hyper-competitive landscape.
AI assist tools, dynamic product configuration, AI-generated content and real-time reporting capabilities are all examples of innovations that will play vital roles in the future of publishing.
The use of machine learning algorithms and natural language processing will also be crucial to turning vast amounts of data into actionable insights that inform business strategies and improve competitive advantage.
The biggest challenge for publishers
The biggest challenge for publishers as it relates to artificial intelligence in media is that many see digital transformation as a destination, when really, it’s a process.
Technology and consumer behavior is changing all the time, and it’s changing rapidly. Publishers need to establish a system that will allow them to keep pace with these changes so that they can innovate and capitalize more effectively.
Accelerating AI adoption is the best way publishers can respond to disruption and future-proof their business. Those who have already invested in AI tools are instantly one step ahead of the game and able to adapt more quickly to emerging industry trends.
In fact, 45% of seasoned AI adopters say that artificial intelligence has given them a marked advantage over competitors.
How artificial intelligence in media solves industry challenges
The future of AI in publishing presents many opportunities to propel media companies into a new era of success.
The integration of artificial intelligence in media technology is becoming the new norm, and early adopters are already reaping the benefits. In fact, respondents to McKinsey’s 2020 Global Survey on artificial intelligence attribute over 20% of their company’s revenue to AI.
Adpoint is an example of how artificial intelligence media technology is revolutionizing not just how publishers market to customers, but also how customers respond to this marketing. For example, Adpoint’s AI functionalities address key industry challenges, including:
- Integration with the human workforce: Adpoint integrates AI with human workforces rather than replacing them, leading to more efficient processes and the potential for job augmentation
- Interactivity: Adpoint’s AI tools enhance interactivity and engagement between readers and publishers, for example, by enabling more personalized and interactive content
- Real-time analysis: AI analytics are able to analyze reader data in real-time, providing media companies with insights that can inform content strategy and editorial decisions
- Personalization: AI provides more personalized content recommendations and improves the overall reading experience for consumers, continually nurturing them into higher levels of engagement and monetization
It’s time to stop thinking of AI as expensive and complicated futuristic technology. Artificial intelligence has become an inextricable part of the publishing world. It’s now more affordable than ever to implement AI tools that perform manual tasks faster, cheaper, and more reliably than humans.
The future of artificial intelligence in media is bright because of the innumerable benefits it brings to the table. And if you don’t leverage the power of this technology now, your competitors certainly will.
Lineup is currently working on AI integrations and enhancements in Adpoint, our media sales management system. Contact us today to book a free demo and see how we can help you develop your AI strategy.