Last week the Fusemachines team hosted the first AI in media event for executives in New York City. The event brought together industry leaders from top media companies and brands to discuss AI’s impact in the evolving landscape, challenges and opportunities, and the future of the industry in an AI-powered world.
Attendees gathered in New York City to network and heard from our CEO, Dr. Sameer Maskey about where the industry is headed, the growing impact of generative AI in media and how organizations are taking advantage of AI to bring their business to the next level.
Many interesting things were discussed and connections made, and we’ll share some of these here.
Biggest Applications of Generative AI in Media
- Content creation
- Idea generation
- Personalized content
- Generative AI is also leveraged to drive greater advertising revenues via more targeted, contextual, and personalized advertisements.
- In the gaming industry, video game makers leverage generative AI for game codes or the visual building blocks of new virtual worlds.
Real-life examples of generative AI in Media
Media companies heavily investing in AI to enhance their services. Netflix is hiring an AI Product Manager with a salary of up to $900,000, indicating their commitment to integrating AI into their operations. Disney is seeking generative AI specialists, Sony is looking for an AI Ethics Expert, and Warner Brothers is hiring a Senior Machine Learning Engineer with a salary ranging from $132,300.00 – $245,700.00.
Spotify AI DJ: a personalized guide that knows your music taste so well that it can choose what to play for you. It delivers a curated lineup of music alongside commentary about the tracks and artists that Spotify thinks you’ll like, all in a stunningly realistic voice. The AI DJ constantly refreshes the lineup based on your feedback, improving its recommendations the more you listen and provide feedback. This feature is a result of Spotify’s personalization technology and generative AI through the use of OpenAI technology.
Generation of Functional Music to Improve Mental Health: AI is being used to generate functional music aimed at improving mental health (reduce anxiety and stress). Machine learning approaches are used to create functional music informed by biophysiological measurements
How should media executives think about AI?
Executives should think of AI as a tool to amplify human efforts. With proper adoption, AI can provide a clear roadmap to business goals as it bolsters efficiency, cuts costs and makes a business more competitive. It also equips executives with key insights such as training needs, sentiment analysis to reinvigorate company culture and boost employee morale.
While generative AI accounts for only about 1% of the AI-based data being produced, it’s expected to reach 10% by 2025, according to Gartner. ChatGPT has redefined the way we use and interact with data. With the proliferation of data collection and explosion in data in recent years, AI has become a mainstay in the technological realm as it provides significant business utility.
Fusemachines and generative AI
At Fusemachines, we specialize in harnessing the power of AI to enhance media experiences. By pioneering cutting-edge techniques, we address the data quality challenge head-on, ensuring a constant stream of accurate, reliable data. We have assisted a number of clients from the media industry achieve their data needs. Our curated solutions enable media professionals to confidently navigate the digital era, leveraging AI-driven insights for unparalleled creativity and audience engagement.
We’re especially excited about our recent collaboration with TIME that involved the development of ChatGPT-powered news quizzes tailored for their audience.
If you’re interested in exploring AI in your business, click here to schedule a complimentary consultation with an AI expert from our team.
Thank you to all who attended our event. It was great to connect with so many talented and passionate individuals in the media industry who are excited about what the future holds for AI in media and are committed to bringing this vision to life.