134 From the advent of television to the emergence of the internet and the proliferation of on-demand content, the media industry has long been at the forefront of embracing transformative technologies. Each evolution has fundamentally changed the landscape of the industry, sweeping aside established models and challenging organisations to adapt to the new reality. Many industry leaders believe that generative artificial intelligence has the potential to do the same, at a time when slowing growth for streaming services is motivating the search for new solutions for creating, delivering and distributing content. According to PwC’s 27th Annual CEO Survey, 57 per cent of entertainment and media CEOs believe their current business path will no longer be viable in 10 years, demonstrating the challenge that media companies are facing. However, it’s a challenge the industry is embracing, says Jessica Hawk, corporate vice president of data, AI and digital applications at Microsoft. “The media industry has seen incredible change in recent decades and is historically very tech-savvy, creatively adapting to disruption and innovation with agility and new business models,” says Hawk. “We see the industry responding to AI with this same spirit. In fact, we see business leaders in all industries, not just media, embracing AI as a powerful tool to build competitive advantage and drive incremental revenue.” This enthusiasm isn’t just limited to the executives at the top of companies, according to Hawk. “People want AI at work,” she says. “According to Microsoft’s annual Work Trend Index, three out of four people use the technology at work and 78 per cent of them are bringing their own AI tools. Engaging employees early with alignment to mission, expectation setting, skilling – all the elements that shape a company’s culture and dynamic – will pay dividends later.” For the companies looking to join in the move to AI-enabled services, Hawk identifies one clear starting point at which to begin their journey: their data. “It’s the currency of AI transformation,” she says. “As powerful as generative AI models are, they don’t know anything about your business until you ground them with your unique data. Seamless integration between your data platform and your application platform has been important for years, but generative AI makes Jessica Hawk discusses how Microsoft is helping media companies adapt and grow as new AI-enabled services and market trends disrupt existing business models BY ALEX SMITH FEATURE on the challenge Taking
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