By Lola Hannigan

The concept of Artificial Intelligence (AI) is not new, for a long time there has been discussions and imaginations of a world where robots will be living alongside human beings. AI and its recent advances can be felt in nearly every sector worldwide.

According to Katherine Haan's article in Forbes (2023), data sourced from the International Data Corporation (IDC) shows that at the end 2023, nine out of ten organizations were supporting AI for competitive advantage. 85.1% of AI users were using the technology for article writing and content creation and that 35% of businesses globally had adopted AI. The number is expected to go higher with prediction of the AI market size growing to $407 billion and 64% of businesses/organizations globally using AI by 2027.

In the media industry, AI has revolutionized how content is generated and created, how it is distributed and even how consumers receive it and at what times. Furthermore, through AI media companies are able to tailor-make content for a consumer and know exactly when to push it to them.

With AI algorithms, media companies can analyze user behavior, preference and historical data to deliver tailored content whether it is articles, videos or podcast across different communication platforms. Thus media companies are able understand their audience better, optimize distribution strategies, carry out more effective media & advertising campaigns and maximize engagement.

Through ChatGPT, which had 100 million monthly active users within two months of its launch, journalist can generate news articles, press releases, media briefs and more within seconds. Additionally, there are other AI tools like Gencraft, Pixlre, Canva, DeepAi that let you create a photo in no time, and with Speechify Studio, you can generate a whole movie.

While AI has immensely improved operations in the media industry, it also comes with its downsides and challenges. With AI there is a high risk of misinformation and spread of fake news facilitated by malicious actors, there are also privacy issues surrounding AI due to its ability to collect a lot of information from the users sometimes without consent.

Additionally, with the ability of AI to perform multiple tasks faster, there are concerns that this might cause job losses or reduced demands of skills especially from journalists, editors and other media personalities. Also, the tech giants that develop AI technology have so much power which might stifle competition and fuel issues related to algorithm bias and censorship especially in the media industry.

With that said, AI will keep advancing and it is paramount for the media industry to embrace and leverage on its potential as well as work towards minimizing the risks associated with using AI.