Artificial Intelligence in the Media Industry
October 18, 2021
The use of Artificial Intelligence (AI) is ever-present and constantly evolving in every area of our lives. How is it being used in the media industry, and how can it help you with your marketing strategy?
News media is faltering, splitting off into smaller and smaller channels with specific points of view and dividing audiences between them. Some startup news companies are employing algorithms and machine learning technologies to reduce subjective interpretation of news data and provide a balanced look at current events. If successful, these outlets will offer unbiased news that readers and viewers are clamoring for, and provide a wider consumer audience to target.
Improving Social Media
Facebook and Instagram are using deep learning and neural networking to better gauge user behavior and match content to users, providing better audience targeting. Also, they and Twitter are increasingly using AI to flag and remove controversial content that threatens brand safety when ads are placed alongside it.
Personalizing the Consumer Experience
AI drives title recommendations and curates content on a variety of media platforms by analyzing content and matching it with consumer preferences. This is helping marketers move from a ‘one-to-many’ to a ‘one-to-one’ relationship between brands and consumers, a giant leap in targeting messages and offers to specific audiences.
AI is Constantly Improving
AI is only as good as the data which is used to train it. As audiences continue to spend more and more time online, and the stream of produced content grows exponentially, AI improves its ability every day to match content to consumers, and provide more targeted placement opportunities for marketing. Audience data can also be transformed into effective customer retention campaigns to keep those consumers interested after creating that customer relationship.
Automation Reduces Cost
In addition to using AI to assist with suggesting content and delivering personalized experiences to viewers, Netflix claims it saves about 1 billion dollars a year thanks to AI’s ability to automate workflows, optimize video compression and delivery, and reduce customer churn. As online platforms utilize AI to reduce internal costs, this will keep advertising prices low enough to fit your marketing budget. You can use AI yourself (and probably already do) for internal collaboration and productivity, and to streamline content creation and organization.
AI is already at work across the media industry, from providing and targeting content to consumers, to enhancing internal organizational productivity. Higher productivity means more resources available for your marketing budget, and lower ad costs to make that budget go farther.