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.
In the following interview, Edwards explains why AI is an important tool that can differentiate publishers’ content in a crowded marketplace by delivering the right message to the right user at the right time.
What are the most important technologies shaping the media business today?
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.
So now we look at a new competitive advantage: relevancy. AI provides contextual relevancy for any individual to connect people to relevant content at the right time and in the right context, it’s all about the experience you provide to consumers. A good example of this is as a consumer — your Sunday reading habits are likely different than your Monday morning reading habits and media companies need to be smart about delivering that experience.