How Confident Are Media Companies in AI Technology?

Introduction

Initial findings from research conducted by Caretta Research for TVBEurope and TV Tech indicate that the media and broadcast industry is cautiously optimistic about artificial intelligence (AI). The study reveals that most companies view AI adoption positively, yet maintain a “wait and see” approach to its implementation.

Current AI Usage

The research shows that many broadcasters currently utilize AI in “back office” processes. A significant 85% of respondents believe AI will have a “significant impact” on the industry, especially in transforming business economics.

Future Impact of AI

Despite optimism, there is uncertainty about AI’s future impact on the Media & Entertainment industry. Many believe AI’s most effective use remains in areas like speech-to-text and software automation.

AI and Human Roles

There’s ongoing debate about AI replacing humans in media. However, most respondents see AI as a tool to assist humans. For instance, 44% of technology buyers believe AI will impact automated production of clips and highlights, while 33% focus on summarizing and transcribing tasks.

AI’s Role in Routine Tasks

Interestingly, 61% of buyers and vendors see AI replacing routine tasks, while 18% believe it will assist complex creative tasks. Additionally, 69% of technology buyers view AI as a means to free people from mundane work, and 63% think it will make work easier and faster.

Deployment Approaches

Regarding AI deployment, 73% of broadcasters are looking to existing media tech vendors to integrate AI functions, while 39% want AI-specific products from these vendors.

Barriers to AI Adoption

Challenges remain, with 43% of technology buyers citing a lack of skilled personnel as a barrier, and 41% concerned about biased results.

Governance and Oversight

AI governance is another area of divergence. While a third of buyers and vendors have formal governance in place, 33% of vendors and 16% of buyers have not implemented such measures.

Conclusion

Robert Ambrose, co-founder of Caretta Research, highlights the confidence of media companies in adopting AI. He notes that fears about AI’s impact on creativity are minimal, with the primary concern being the change AI brings to workflows and competition.

The full survey findings will be released by TVBEurope and TV Tech soon. For more details, visit TVBEurope.

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