GenAI for media: reap boundless business benefits
For media companies, is GenAI tactical or transformational?
The answer is both.
Some GenAI use cases—like automating subtitling and dubbing—are obvious and foundational. Others are more creative and aspirational like using GenAI to capitalize on viral media moments in real time to boost ad revenue.
The possibilities for GenAI are boundless. According to Bloomberg Intelligence, GenAI could become a $1.3 trillion market by 2032. However, the ethical security and legal risks are also real: bias, copyright uncertainty, labor contract concerns, and cybersecurity threats.
With GenAI, the stakes are high and hype can drive distraction. To help ensure ROI and rein in risk, it’s vital to focus intently on specific problems to solve and opportunities to seize, whether it’s creating revenue, reducing costs or streamlining processes.
Picture the GenAI revolution: media’s most pressing problems solved
When it comes to using GenAI for content generation, media companies are experimenting with different components. But content generation isn’t the only opportunity for optimization. Media companies have myriad ways, both foundational and aspirational, to tap GenAI’s power, including:
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GenAI’s array of options make it difficult to know how to start and where to focus. But, it’s vital to take a thoughtful approach that balances the competing forces of opportunity and risk and prioritizes your most pressing problems.
Take the approach of strategic pragmatism
How do you transform? What are the most meaningful places to apply GenAI? Take into account where you are right now and where you want to go. Succeeding at GenAI takes understanding your organization’s capacity for change and coalescing your leaders to solve the right problems and seize the right opportunities. GenAI can seem to be plug and play, so it may be tempting to take an ad-hoc approach, but planning, not paralysis, is imperative.
Develop a governance plan to clear up confusion and catalyze action
Confusion swirls around the use of AI. What is allowed? How does it work? What does this mean for my future? Teams are looking to leadership for answers surrounding responsible and ethical AI use. It’s critical to establish governance frameworks to guide AI development, deployment, and data handling. Management will need to field tough questions from employees.
Execute with elegant engineering tailored to your business
GenAI is flexible. You can build from scratch, buy off the shelf or pay-as-you-go. Benefits and drawbacks exist with all approaches and should be carefully weighed. For every organization, security is a consideration. At Qvest, we built Qai, our internal co-pilot. It’s user-friendly, fully integrated within our own messaging apps and provides rapid access to company specific methodologies, templates, and training materials, enhancing productivity by up to 20%.
Advance your business with our GenAI accelerators
Sales teams are toggling from system to system to gather disconnected information needed to close a sale. With an enterprise copilot, sales executives can use conversational language to instantly command customer profiles to tailor their pitches and drive ad sales, spending less time searching and more time selling. Post-meeting notes are also automatically fed back to the CRM system, informing the next pitch.
Sales teams are forced to swivel chair and piece together their avails data. With an LLM Copilot, they can identify white space and expand targets to surface hidden revenue, all within environments they are already accustomed to like Microsoft Teams. Broadening the vantage point of sales to boost the bottom line.
Adding data into a Rights Management System (RMS) is mired in manual processes that are prone to error. With GenAI, you can automatically identify and extract critical information from digitized contracts in bulk – seamlessly integrating them into a RMS at scale. Enhance the efficiency and accuracy of your contract management.
Creating digital assets to drive marketing is met with friction. Disjointed workflows and manual processes impede collaboration across the business, reducing speed to market. With GenAI, teams can easily integrate people and systems to simplify complex creative workflows to maintain brand consistency, reduce costs and accelerate marketing.
News organizations must manage endless amounts of content and make critical editorial decisions for compelling news coverage. Due to manual processes and overlapping systems, they struggle to know what they have, overlooking opportunities to streamline operations and generate revenue. With GenAI, newsrooms can deploy deep content analysis and tagging capabilities to sharpen visibility into voluminous content catalogs, surfacing hyper specific clips in minutes vs. hours. Cut straight to the heart of the story.
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Christophe has a passion for making business impact through technology innovation and product design. He brings 20+ years of strategic guidance and enterprise technology implementations for media, entertainment, technology and CPG companies. Christophe’s experience spans enterprise data, engineering and design – with end user experience and technology embedded throughout. He leads technology solutions for Qvest’s GenAI practice. Connect on LinkedIn.
