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Generative artificial intelligence may have captured the attention of the media industry because of its potential to reshape the landscapes of search and content creation, but so far those applications remain largely hypothetical.
However, starting earlier this year a number of publishers began using generative AI to streamline their back-end commercial processes, creating efficiencies in revenue operations, account management and the RFP process, according to interviews with executives.
In doing so, media companies including Politico, Raptive, Newsweek and Bustle Digital Group have increased the efficiency of their businesses, improving their margins and increasing win rates.
“We have a high floor for what we will show to a consumer, but internally we are evaluating tools on the basis of whether they make it easier to sell or easier to write and edit,” said Jeremy Bowers, the chief technology officer of Politico. “Ultimately, we are looking to make people better at their existing jobs.”
While the efforts are too nascent to have produced definitive results, publishers have begun measuring the value of the tools using metrics like project velocity, pre-sales timelines and profit margins.
These efforts, although early, reflect how publishers can begin to reap commercial benefits from a technology whose hype has, at times, outstripped its immediate utility. They also offer a blueprint for other publishers looking to incorporate generative AI into their workplace in a manner that eases employee anxiety about its effects.
Increasing account management efficiency
For many publishers, generative AI can bring near-instant efficiency gains by automating rote processes that are critical to pitching and sales.
For instance, ad management publisher Raptive has seen efficiency gains by using generative AI to draft responses to customer service inquiries, write job descriptions and pen performance reviews, according to chief strategy officer Paul Bannister.
The publisher, which assembled a 12-person internal team to find use cases for generative AI, also uses the technology to summarize market research data into bullet points, providing sales staff with concise summaries.