Publishing Executive recently sat down with Boomtrain’s CEO & co-founder, Nick Edwards, to discuss how AI will revolutionize the media business.
The media industry has been buzzing about artificial intelligence for years. Yet practical uses for the technology are only just being realized by companies like The New York Times, the BBC, and Condé Nast. Although applications for AI in the media business are still in their infancy, it will not take long for the technology to affect every aspect of the business, says Nick Edwards, CEO & co-founder of Boomtrain — creator of a marketing platform built on AI tech. Edwards argues that AI is the most important technology impacting the industry today and it will continue to shape it in the years to come.
Q: What are the most important technologies shaping the media business today?
A: I believe the single most important technology shaping the media business today is artificial intelligence (AI). Media companies’ business models have been desiccated over the past fifteen years. Originally media companies were able to build competitive advantages through two concepts: content and distribution. However, over the past few years the competitive advantage of distribution has faded — everyone has access to internet, anyone can build an app or get access to news & content.
“Your Sunday reading habits are likely different than your Monday morning reading habits and media companies need to be smart about delivering that experience”.
Q: What emerging technology or trends do you think will have a profound impact on the media business in 2020?
A: The start of AI today will have a profound impact on media business in 2020 because what we see today is just the beginning of what we will see 4 years from now. The capabilities of AI are vast and will continue to develop. The media experience for consumers will evolve to applications that proactively surface most relevant content all around web based on individual interest and passions.
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