Artificial intelligence is transforming business practices and the labor market across all industries, upending how leaders look at structural issues within their companies. While A.I. 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, A.I. 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 A.I. in the coming years.
Many of the areas within the media industry that are projected to gain the most value from A.I., such as the marketing and corporate finance, will be expanding into traditional A.I., which includes machine learning and statistical techniques, such as regression analysis. Areas where the potential added value of A.I. is currently smaller, like workforce productivity and fraud analytics arena, are projected to gain most of their value from advanced A.I. techniques that are not as widely used or developed as traditional techniques.
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