Without AI, You’re ‘Behind the Competition,’ Startup Exec Says
Entrepreneur Adam Spector issues a stark warning to media and digital companies that are lagging behind in adoption of artificial intelligence.
“If a company today has not already implemented AI in some part of their business, then they are behind the competition,” says Spector, co-founder and head of business at San Francisco-based AI startup LiftIgniter. “The challenge with AI is that the value you receive from it increases exponentially, so your competitors who are using it are not just a little ahead of you, they are likely light-years ahead.”
To offer an idea of how much impact AI is having and will have on the media and digital sectors, Spector says you should consider the effect that mobile has had. Then, he says, multiply that effect by 1,000, and you’ll have a sense of the sweeping changes that AI is ushering in. Except, Spector adds, the impact of AI is quicker and more profound.
Spector’s company is among four AI startups that’ll be exhibiting at NAB Show Las Vegas, April 7 to 12, 2018. The others are Graphika, ICX Media and Valossa.
“Stop redesigning your site. Stop putting more money into marketing,” Spector says. “Create the best user experience—which has to be personalized via AI—and all other metrics will improve. Everything else you could do for your site, for your revenue, for your users is secondary to applying intelligent, automated AI.”
Without built-in AI, a media or digital property “will cease to exist,” Spector says.
“Users have come to expect personalization everywhere. Users are also lazy: They don’t want to spend time trying to discover something,” Spector adds. “YouTube, Facebook and Netflix have trained them to expect the perfect piece of entertainment with near-zero effort.”
“Without personalization, they will not stick around, they won’t share your content and they won’t care about your site.”
With its technology, LiftIgniter enables content creators to place the best content in front of an online visitor.
“Digital properties spend huge amounts of time and money to get visitors to their site or app but then fail to personalize, which reduces your return on investment,” says Indraneel Mukherjee, co-founder and CEO of LiftIgniter. “At our core, LiftIgniter is a machine-learning and math company built to provide a true personalization layer to the internet that enhances the end-user experience and increases positive outcomes for our customers’ business goals.”
LiftIgniter says its AI-powered technology allows clients to push beyond our current perceptions of personalization.
“While AI does make basic personalization features … possible, the future is all about individualization,” LiftIgniter says on its blog. “We’re talking about tailoring the experience to each and every user. Intelligently adapting content, tone and even design to make each user feel like they’re receiving personal attention every time they use our website or app.”
Here’s a brief look at the three other AI startups exhibiting at NAB Show Las Vegas 2018.
New York City-based Graphika’s AI-fueled technology helps customers understand the context of social conversations via articles, media, websites and hashtags that are spurring online conversations. Graphika’s technology helps clients in media, health care, news, politics and other industries make “strategic business decisions.”
Through “data-inspired storytelling,” Washington, D.C.-based ICX Media says it’s transforming the way video is created, distributed and monetized. Its customers include marketers, media companies and video creators.
ICX Media says its real-time insights pave the way for businesses and organizations to quickly generate high-quality, cost-efficient branded video content in a scalable fashion.
Finland-based Valossa’s AI-based video-identification technology allows, in real time, the identification of more than 10,000 concepts—people, places, objects, themes and so forth—from any video stream. This helps companies deliver personalized video content, Valossa says. Put another way, Valossa’s AI software understands video like a person does, according to founder and CEO Mika Rautiainen.