Five reasons why YOU should be digging into AI

AI is an amazing tool that comes in many different forms. To some, it’s an exciting tool to get your hands on; to others, it’s scary and threatening. Regardless of where you stand on this continuum, understanding exactly what AI is and what it can do is beneficial. Digging in is easy, there is a wealth of information readily available, much of it free, to help you start your exploration.  In addition, there are many AI tools that have limited or introductory free access. So, what are you waiting for?

If you’re working in technology, media, or communications, you should be looking into AI for application in your work. While your corporate policy may prevent you from using AI directly for your work, it’s important to understand how today’s AI solutions work and how they can benefit you—and your competitors. Numerous AI-powered solutions are available for free exploration, and many offer low subscription prices for regular use. If you haven’t yet written your first AI prompt, what are you waiting for?

The AI revolution sparked by the introduction of ChatGPT is akin to the introduction of the personal computer in the 1980s. That introduction led to decades of technological advancements, software applications covering every aspect of life, and the distribution of multiple computers (PCs, laptops, mobile phones, tablets, and wearable devices) to nearly every person on earth. Consider that level of transformation when imagining where AI is taking us in the next few decades. So again, what are you waiting for? Dig in and learn.

You’ve probably heard (or thought to yourself) that AI is going to eliminate jobs. While that will be true in some circumstances, consider the potential improvements to your personal productivity or that of your staff. Beyond possible productivity gains, there are many reasons to dig in and learn what you can about the application of AI to your area of business. You don’t need a computer science-level understanding of how to build a large language model (LLM) or an understanding of how companies have created different generalized pre-trained transformers (GPTs). You just need to know the basics and explore numerous tools to better understand where things are going.

Gerard Kunkel, Managing Partner, Next Media Partners

Here are five good reasons why you should be learning all you can about AI:

1. Improved Decision-Making:  AI improves decision-making by quickly processing and analyzing large volumes of data, uncovering insights that might be missed by humans. This capability is crucial for making informed decisions in real-time, which is particularly beneficial in fast-paced industries. AI's predictive analytics can identify patterns and trends, helping businesses anticipate market changes and customer behaviors. How much do you know about your customers and your prospects? If you’re in the media business, how much do you know about your audience? If you have first-party data, there are numerous AI-powered analytics solutions to help you learn more.

2. Personalization and Improved Customer Experience:  Does your business present a customer-facing user interface or a multifaceted user experience that drives your commerce? Most businesses in media, technology, or communications have well-managed interfaces with their customers. AI can transform personalization and customer experience by delivering tailored recommendations based on user behavior and preferences. Algorithms can analyze customer data to provide personalized content, product suggestions, and services, significantly enhancing customer satisfaction. Dynamic customer interactions are also improved through AI-powered chatbots and virtual assistants, which offer personalized support and respond to queries in real-time. Next Media Partners has been developing AI-powered conversational avatars with various underlying AI platforms to create market vertical-specific solutions. These solutions create B2C conversations about brands, products, services, or entertainment in a way that is always unique to the individual but always on brand and aligned with campaign goals. The ability to collect first-party data while engaging a consumer in your brand or product message results in both efficiencies and greater accuracy in your remarketing. Additionally, it provides your customers with information that properly addresses their interests. The output of these engagements further fuels consumer insights and follow-on remarketing—AI's ability to create personalized campaigns further increases engagement and conversion rates, making customer interactions more effective and meaningful.

3. Innovation and Competitive Advantage:  You’re not alone in your curiosity. You can’t assume that the competition is not digging into AI. You must assume that they are. AI drives innovation and provides a competitive edge by accelerating research and development processes. It assists in analyzing market data, identifying trends, and suggesting new areas for innovation, speeding up the development of new products and services. AI can be customized to meet specific business needs, enabling companies to create unique solutions that address their particular challenges. Early adoption of AI allows companies to differentiate themselves from competitors by offering innovative, AI-driven products and services that leverage cutting-edge technology.

4. Personal Knowledge and Learning:  Read what you can. Write prompts where you can. Exploring AI applications fosters continuous learning and professional development. Staying updated with the latest technological advancements and gaining expertise in AI can open new career opportunities and enhance your professional value in the job market. It can also prepare you for the changes that are undoubtedly coming in your present role and current company. AI's interdisciplinary nature, encompassing computer science, statistics, and cognitive science, offers a comprehensive learning experience that integrates various fields—but you don’t need to be a computer science major to read up and get smart about the underpinnings of AI. Consider this an opportunity to gift yourself a continuous learning course. This continuous learning not only improves individual knowledge but also contributes to personal growth and career advancement.

5. Exploration and Discovery of Applications that Benefit Your Business:  As a visual person in the field of media-tech, I’ve spent a great deal of time dabbling in generative AI tools for images and video. Sure, it’s been fun, but it’s also been a great education into the rapid evolution of generalized pre-trained transformers (GPTs) for image and video creation. These specialized transformers use descriptive text inputs to create images and videos in seconds rather than hours or days using traditional methods. Beyond their efficiency, these tools allow the creator to explore dozens or hundreds of ideas that would not have been possible before. This exploration at NMP has led us to new ideas and solutions for our customers, and our throughput has expanded at the same time. By delving into AI applications, businesses can identify specific use cases that address their unique challenges and opportunities. Custom AI solutions tailored to operational needs can enhance efficiency and effectiveness, providing businesses with a strategic advantage. Understanding and implementing AI enables businesses to gain strategic insights and stay ahead in their industry. This exploration and discovery process allows companies to innovate continuously and maintain a competitive edge in a rapidly evolving technological landscape.

Exploring AI applications can lead to transformative changes, driving efficiency, innovation, and growth across various sectors while also fostering personal and professional development. 

Here are AI tools for you to begin your exploration:

• ChatGPT, developed by OpenAI, is a powerful conversational AI tool that can assist with various tasks such as content creation, customer service, and answering queries. Its natural language processing capabilities make it an excellent tool for beginners to experiment with AI-driven conversations.

• MidJourney is an AI tool for generating stunning visuals and art. It allows users to create beautiful images from text descriptions, making it ideal for beginners interested in exploring the intersection of AI and creativity.

• Jasper.AI (formerly Jarvis) is an AI writing assistant designed to help with content creation. It can generate blog posts, social media content, and marketing copy, making it a great tool for beginners looking to enhance their writing with AI assistance.

• Grammarly is an AI-powered writing assistant that helps improve grammar, spelling, and style in writing. It’s user-friendly and provides real-time suggestions, making it perfect for beginners who want to enhance their writing skills.

• Facet.ai's features include what you might expect from a text-to-image generator, but they’ve gone a few steps further in creating a tool set for professionals. It has the ability to power a brand’s image library and maintain consistency across your corpus of creations, allowing them to produce on-brand professional-quality visuals easily.

• Lumen5 is a video creation platform that uses AI to turn text content into engaging videos. Beginners can easily create professional-looking videos for marketing, social media, or educational purposes without advanced video editing skills.

• Otter.ai is an AI-powered transcription service that converts spoken language into written text. It's useful for beginners who need to transcribe meetings, lectures, or interviews accurately and efficiently.

• Gemini, developed by Google DeepMind, is a powerful family of large language models. Similar to ChatGPT, it can assist with various tasks like content creation, answering your questions, and even generating different creative text formats.  However, Gemini goes beyond conversation and can handle complex instructions, making it suitable for beginners who want to explore the full potential of AI for different projects.
  

Exploring these tools will give beginners a solid foundation in understanding how AI can be applied across various media related domains, from content creation, image and video editing, meeting management and writing. Get started. We're just scratching the surface.