The Future of Entertainment, powered by AI
All the industries are radically changing due to digital transformation and technology but maybe one of the industries that has changed the most in the last decade is how we consume media and entertainment.
Even millennials have seen fundamental shifts in consumption of media. They are seeing with their own eyes how consumption of newspapers is decreasing year over year and online video is the king of growth. Furthermore, the average daily time spent watching digital video is increasing year over year.
Nothing to say that the war of online content providers is served: Netflix, HBO, Disney+, Amazon Prime TV, etc. Each one has its own strategy, for example, Netflix defined a binge culture, but the new wave of streaming services is going another route and going to a weekly release model.
Most of the companies we mentioned before, gather all the consumer’s preferences in the cloud, and then they create future recommendations based on the past content consumption. And this in parts works, they created different types of people and then adjust the content recommendations to the group you are profiled, but we understand that customer experience and AI can go beyond.
Now, more than ever, it’s crucial to know who the influencers are, what they like and their behavior patterns in order to influence them.
The Future of entertainment is already happening now, the combination of disruptive technologies together with intensive usage of experience management is changing radically the entire industry ecosystem. Is it not enough to be OK for he customer, we need to WoW him”
There is no doubt that a total focus on customer experience and hyper-personalization will be key factors that those companies to success in the ventures. How do you better engage with your consumers? How do you better utilize digital technologies to usher in the new era of digital media and marketing? How for example can AI help on this Entertainment industry transformation? Let’s see some examples.
Music: its clear the way we consume music now is totally different from 5 years ago. AI, Machine Learning and Advanced Analytics can help us to create better song lists recommendations, to engage better with us. For example, music type can adapt yo the mood we are, if we are running music content providers will recommends us a type of music and also depending on my race pace.
Let’s think now about movies. Recommendations are already appearing on my home screen of my Netflix or HBO but it the way I am consuming those contents, how the system is learning from those and adapting itself to present those contents in the future in a different way to me. That the power of AI and Machine Learning, it has the ability to evaluate, select, act, and learn from its own actions.