DBT: Lead The Change- Revolutionising Digital Media Operations with AI
By LS DigitalSeptember 4, 2024
Executive Summary
As Artificial Intelligence (AI) continues to evolve and permeate various industries, its integration into business operations presents both exciting opportunities and significant challenges. The promise of AI lies in its ability to revolutionise key processes such as research, planning, optimisation, and feedback, offering businesses the potential to enhance efficiency, drive innovation, and gain a competitive edge. However, the journey to AI adoption is not without its complexities.
This session will delve into the multifaceted challenges that organisations face when subscribing to AI. It will explore how companies can navigate the obstacles of AI integration, particularly in the areas of research, planning, and optimisation, where AI’s impact is expected to be most profound. The discussion will cover a range of critical questions, including:
- Challenges in AI Integration: What are the primary challenges organisations encounter when integrating AI into their existing operations? Participants will discuss the technical, cultural, and logistical barriers that can hinder successful AI adoption.
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Short-Term Impacts of AI: How is AI currently impacting key business processes such as research, planning, optimisation, and feedback? The session will explore how AI is reshaping these areas in the short term and what this means for businesses looking to stay competitive.
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Expectations from Big Tech: What are the expectations from major tech companies like Google and Meta in terms of improving AI tools for media operations? Participants will discuss how these tech giants can better support businesses in their AI journeys, from enhancing existing tools to developing new solutions.
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Future Evolution with AI: How will media operations evolve with AI over the next 5 to 10 years? The discussion will envision the future of AI in business, considering both the opportunities and challenges that lie ahead.
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Practical Advice for Digital Marketers: What is one piece of advice that digital marketers should act on immediately in the context of AI adoption? The session will conclude with actionable insights and recommendations that marketers can implement to ensure they are effectively leveraging AI in their strategies.
By addressing these pressing questions, the session aims to provide participants with a comprehensive understanding of the challenges and opportunities associated with AI adoption. Attendees will leave with practical strategies and insights that will help them navigate the complexities of AI integration and harness its full potential to drive business transformation.
Attendees:
1. Pawan Gurnani– AVP, DSP Mutual Funds
2. Abhishek L.– CDO, Marks & Spencer
3. Avi Kumar – CMO, FNP
4. Nishant Mishra– CMO, Apollo Health & Lifestyle Limited
5. Prasad Shejale– Founder and CEO, LS Digital (Moderator)
Excerpts:
Introduction: The Dawn of AI in Digital Media Operations
In the ever-evolving digital landscape, the integration of Artificial Intelligence (AI) has emerged as a game-changer, poised to revolutionize digital media operations. The virtual series “DBT: Lead The Change” brought together thought leaders from various industries to discuss the transformative potential of AI in reshaping digital media. Moderated by Prasad Shejale, Founder and CEO of LS Digital, this closed-door session explored the profound impact AI is having on key business processes, from research and planning to optimisation and feedback.
There are number of solutions that exist in the market, but we also need to be aware about the fact that do these solutions only help us in targeting the set of audiences, the answer is yes, but are these solutions reaching out to the people who are actually converting, the answer is no. –Pawan Gurnani
The Urgency of AI Adoption
The session opened with Prasad Shejale setting the stage for a deep dive into AI’s role in digital media. He emphasised the urgency for businesses to embrace AI, not just as a tool for efficiency but as a strategic imperative. “We are on the brink of a new era where AI is not just enhancing our operations but fundamentally altering how we approach the market,” Prasad noted, framing the discussion that would follow.
The Power of AI in Digital Media Operations
AI in Research and Planning: A New Frontier
One of the key topics discussed was how AI is revolutionising research and planning within digital media. Nishant Mishra, CMO of Apollo Hospitals, highlighted the transformative role of AI in the healthcare sector. “Primarily for us, AI largely works on predicting how people might be exposed to certain eventualities, prompting specific episodes that require medical attention,” he explained. Nishant’s insights underscored the potential for AI to predict consumer behaviour, allowing businesses to tailor their strategies more effectively.
Even today the overall share of direct vs. regular investors in India is in the ratio is 15-85, where 85% of the population in India still needs somebody. They will come via some aggregator, some sort of MFT associated with them, somebody to guide them in terms of which fund to choose. Pawan Gurnani
Abhishek Lal, CDO of Marks & Spencer, echoed this sentiment from a retail perspective. “For a fashion brand, there is a very high intent to use more AI in research and planning. While we’re still in the early stages, the potential for AI to enhance these phases is immense,” Abhishek observed. This highlights the growing interest in leveraging AI to optimize strategic planning and decision-making processes.
Optimisation and Feedback: The AI Advantage
The panel also discussed AI’s impact on optimisation and feedback mechanisms. Avi Kumar, CMO of FNP, pointed out that AI has significantly enhanced their go-to-market speed. “AI has helped us to increase the go-to-market speed in many cases. It has made research and data analysis faster and more accessible, although the effectiveness of AI is still up for debate,” Avi said. His remarks illustrated the duality of AI—its potential to drive efficiency while also presenting new challenges in terms of effectiveness and accuracy.
Pawan Gurnani, AVP at DSP Mutual Funds, provided a financial sector perspective, noting that AI’s role is currently limited but growing. “In the mutual fund space, AI is primarily used for content creation and targeting the right audiences. However, when it comes to making investment decisions, AI’s role remains minimal as human interaction is still crucial,” Pawan explained. This underscores the importance of human oversight in areas where AI has not yet fully matured.
Healthcare is largely episodic; many a times Health Care turns out to be a Health Scare. Health Scare drives you to the nearest point regardless of the brand, it’s the nearest point that one runs to because that is the issue of the episode. Nishant Mishra
The Ask from Big Tech: Connecting with the Consumer
When discussing their expectations from big tech companies like Google and Meta, the panellists were united in their demand for better customer targeting at a lower cost. “Our ask is simple—connect us to the relevant customer at the least possible cost,” said Pawan. Abhishek added, “The rate at which we optimise our campaigns needs to improve, and we need to reduce the time it takes to see results.”
These insights reflect the broader industry’s desire for more efficient, cost-effective AI tools that can drive better business outcomes. As AI continues to evolve, the partnership between businesses and big tech will be crucial in pushing the boundaries of what’s possible in digital media operations.
AI in healthcare is used in communicating what would be benefitting the audience in terms of generating awareness. Primarily AI in Healthcare is used in predicting how people might be exposed to certain set of eventuality which might prompt an episode, which might be a dangerous one. Nishant Mishra
The Future of Media Operations: AI’s Transformative Potential
Looking ahead, the panellists shared their visions for how AI will shape media operations in the next 5 to 10 years. Avi predicted a shift towards content-driven, real-time solutions powered by AI. “From a future point of view, it seems like we can move away from traditional media. The advertising landscape is transforming, with AI leading the charge in delivering content-based solutions in real-time,” he noted.
The panel also discussed the importance of predictive analytics in future media operations. “We are moving towards a future where AI will not only predict trends but also help businesses incorporate those trends into their marketing strategies more effectively,” said Nishant. This shift towards predictive, data-driven decision-making is expected to redefine how businesses engage with their audiences.
Advice for Digital Marketers: Embrace and Experiment with AI
In conclusion, the panellists offered advice for digital marketers on how to navigate the AI-driven future. Avi urged marketers to get hands-on with AI, emphasising the importance of experimentation. “We need to get our hands dirty. Experimentation is key, and the faster we adopt AI, the better positioned we will be for the future,” he advised.
Nishant added a note on strategic planning, stating, “Plan well, back your plans with strong execution, and be ready to adapt as AI continues to evolve.” Pawan highlighted the need for data-driven decision-making, reminding marketers that “AI is only as good as the data we feed it.”
From future pov, it seems we would move away from the traditional media and by traditional media I mean digital, where it will all be solution based, which means that today more and more brands that we are experiencing is through content, that is being generated through influencers, content companies and so on. It will be solution-based content, that will be created on the go for consumers which will be very on-point to what their requirement is. Avi Kumar
Conclusion: The Road Ahead
The discussion made it clear that while AI has already begun to transform digital media operations, its full potential is yet to be realised. The panellists agreed that for AI to truly revolutionise the industry, businesses must prioritise data quality, invest in AI experimentation, and build stronger partnerships with big tech companies. As the future of media operations shifts towards AI-driven, content-based solutions, staying ahead of the curve will require a proactive approach to integrating AI into every aspect of digital strategy.
The success of AI within an organisation depends on the level of data accuracy, credibility of the data which is shared for AI to give the right input to us for us to take a decision. Abhishek Lal
This session of “DBT: Lead The Change” provided invaluable insights into the evolving role of AI in digital media, offering a roadmap for businesses looking to harness the transformative power of AI in the years to come.
About DBT: Lead The Change
In today’s fast-paced digital world, staying ahead of the curve is not just a competitive advantage—it is a necessity. The “DBT: Lead The Change” series, a fortnightly discussion session moderated by Prasad Shejale, Founder and CEO of LS Digital, is a novel initiative designed to equip industry professionals with the insights and strategies needed to thrive in this ever-evolving landscape. As a by-invite, closed-door virtual session, it brings together a curated group of industry leaders and thought leaders to tackle the most pressing business challenges head-on.
This property, conceived and produced by LS Digital, serves as more than just a platform for dialogue; it is a catalyst for innovation. Every two weeks, diverse perspectives converge to address critical areas such as Media, Creative Communications, Data Insights, Technology & Innovation, User Experience (UX), and Customer Experience (CX). By fostering meaningful dialogue among senior professionals from these key domains, “Lead The Change” aims to uncover actionable solutions that can drive significant impact.
As we navigate the complexities of modern business, this platform serves as a beacon for thought leadership, guiding participants through emerging trends and equipping them with the tools to lead the digital business transformation. The discussions held here are not just theoretical— They shape the roadmap for the future of digital business, crafted by those at the forefront of the industry.