Artificial intelligence is changing business practices and the job market across all industries and revealing how executives view structural problems in their companies. While AI is often associated with the technology and financial sectors, the media has and will continue to integrate artificial intelligence into all facets of the industry in the coming years.
According to McKinsey Analytics, AI within the media sector is expected to add the most value to the marketing and sales side of the industry, with an expected value of €300 billion in this area alone. For the strategy and corporate finance sub-areas of the media sector, AI is expected to generate $99 billion in value in the coming years.
Many of the areas of the media industry that are expected to benefit most from AI, such as marketing and corporate finance, will evolve into traditional AI, which also includes machine learning and statistical techniques such as regression analysis. Areas where the potential added value of AI is currently smaller, such as employee productivity and fraud analysis, are expected to gain most of their value from advanced AI techniques that are not as widespread or developed as traditional techniques.
Artificial intelligence is transforming business practices and the labor market across all industries, upending how leaders look at structural issues within their companies. While AI is often associated with the tech and finance sector, media has and will continue to incorporate artificial intelligence into every facet of the industry in the coming years.
According to McKinsey Analytics, within the media sector, AI is expected to add the most value to the marketing and sales side of the industry, adding a projected 300 billion in value to that area alone. The strategy and corporate finance subset of the media sector are expected to gross 99 billion dollars in added value from AI in the coming years.
Many of the areas within the media industry that are projected to gain the most value from AI, such as marketing and corporate finance, will be expanding into traditional AI, which includes machine learning and statistical techniques, such as regression analysis. Areas where the potential added value of AI is currently smaller, like workforce productivity and fraud analytics arena, are projected to gain most of their value from advanced AI techniques that are not as widely used or developed as traditional techniques.
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