The media industry has witnessed the transformative potential of Artificial Intelligence (AI) in recent months, especially with the advent of ChatGPT. This has led to a mix of hype, disillusionment, and critical evaluation.
As the initial excitement begins to wane, we find ourselves moving toward the disillusionment phase in the AI hype cycle. Let’s take a look at AI’s journey in the publishing industry.
The emergence of AI in the media sector has elicited a degree of enthusiasm that is seldom witnessed. Media corporations have begun to comprehend that AI is not merely a tool reserved for statisticians and data scientists, but rather a technology that can be utilised more effortlessly than ever before.
The typical user profile has evolved, transitioning from data scientists to an average employee within the organisation. People are enthralled by promises of enhanced efficiency, accuracy, and speed.
As media publishers delved deeper into the potential of AI, they also encountered its limitations.
They realised the importance of fact-checking and being cautious about incorrect results. While AI can undoubtedly increase productivity, it heavily relies on the quality of data and creativity of the person operating it. To achieve desirable outcomes, good data is essential.
However, like all innovations, the entry of genAI into the media sector has not been devoid of challenges. The high expectations set by the initial hype have led to disillusionment as the realisation that AI is not a panacea for all media-related problems sets in. The technology has struggled with nuances, context, and the creative instinct that lies at the heart of the media industry.
If not used properly, genAI can create an excess of hallucinations, making fact-checking potentially frustrating.
Additionally, the landscape of tools seems difficult to navigate. As of July 2023, I sense the publishing media is in this phase.
After each disillusionment phase, a plateau is reached, where AI’s true long-term potential emerges. The hype-disillusionment cycle is gradually transitioning into a plateau phase, as the media industry gains a better understanding of AI’s real-world applications and limitations. The focus is now on harmonising AI with human ingenuity to maximise its potential.
During this phase, more media organisations will realise the value of using their own data with genAI’s large language models. They will understand that combining ethics, good data, and smart ideas is crucial.
Larger publishing companies may also recognise the benefits of developing their AI tools using genAI’s coding tools, as they provide more efficient development processes.
The journey of AI in the publishing industry has been marked by hype, disillusionment, and the approaching plateau. While the initial excitement has subsided, the media industry is gradually gaining a better understanding of AI’s true potential. It is becoming clear that harmonising AI with human ingenuity is the key to leveraging its capabilities effectively.
As the industry navigates this path, media organisations will realise the importance of good data, ethical considerations, and the combination of genAI tools and human expertise. By embracing these principles, the publishing industry can harness the transformative power of AI and pave the way for a future of innovation and growth.