Opportunities, Challenges, and Upcoming Trends
Data has always played an important role in the media and entertainment industry, but the technological disruptions in recent years have taken it to a whole new level.
Nowadays, every player in the industry has easy access to an unprecedented amount of information about existing and prospective customers.
Data science, machine learning (ML), and AI represent huge opportunities for companies who are prepared to invest in long-term viable solutions. This white paper will cover the core AI use cases, trends, and accompanying frameworks for the media and entertainment industry.
Nancy has an academic background in media and communications, and has previous experience writing and running marketing operations for digital media companies. Her most recent efforts are focused on doing research in digital anthropology and combining her passion for writing and tech in her role of Marketing Content Specialist at Dataiku, where she conducts research and writes about AI ethics, trends and developments in the media and entertainment, retail, and CPG industries.
As content consumption behaviors are becoming increasingly complex and evolving more rapidly than ever, media and entertainment companies are facing increasingly competitive and uncertain markets, which are driving the need to reduce operating costs and simultaneously generate more revenue from delivering content.
Data science, machine learning (ML), and AI represent huge opportunities for companies who are prepared to invest in long-term viable solutions.
Companies, in turn, are tailoring their offerings and business models to revolve around personal preferences, leveraging data and usage patterns to pitch their products not at audiences of billions, but at billions of individuals.
The central theme of this growing world of media is that it’s personal and increasingly digital. And it is one that is constructed by the individual for his or her own enjoyment and gratification, and delivered through personal devices.
Faced with an increasingly uncertain markets, fierce digital competitors and the ever-growing amounts of data generated by media users everyday, media and entertainment organizations need ever-smarter tools to stay in the competition in the game. With some relevant expertise and education of people, careful governance processes, and the right tools, however, the technical, ethical and regulatory challenges are not impossible to surmount. Enterprise AI opens the door to drive media companies in this fast-paced world to new heights.