How an AI Ecosystem Unlocks Unexpected Capabilities and Opportunities
A look at gaining market leadership by thinking beyond the initial problems you’re trying to solve with AI
Summary:
- Adopting AI across the entire organization should start small with tangible use cases
- Companies should look at adopting a solution that’s supported by an AI ecosystem that’ll ensure they can move beyond their initial challenges to unlock new opportunities
- AI will uncover new opportunities and challenges previously unknown, driving adoption into other areas of the business
It can be daunting for organizations of any kind to adopt artificial intelligence (AI). It’s common to try to solve too many problems upfront rather than focus on specific use cases relevant to your most immediate challenges.
Consider this: By focusing on your most pressing problems, you may find an AI solution that can serve as an entry point to complete AI adoption across the organization. If that solution is supported by a rich AI and technology ecosystem, you’ll not only solve immediate business needs, you can jumpstart greater organizational transformation.
What is an AI ecosystem?
An AI ecosystem consists of two components: underlying technology that can support various use cases and partners that can further extend capabilities and opportunities. From a technology perspective, the ecosystem should have a clear foundation for everything that operates within it.
With the right platform, organizations can easily integrate AI into existing systems, making it easier to add new AI solutions while giving you the ability to expand your AI adoption throughout other areas of the organization. In addition, having qualified partners that are an integral part of this ecosystem ensures that there are no gaps in expertise and helps you discover new opportunities.
But it all starts back at finding that first specific use case.
What problems can AI solve?
The key to getting started with AI (and not biting off more than you can chew in the short term) is to really home in on what problems AI can solve by looking at proven use cases. For example, many of our clients approach us in the media and entertainment space because they have problems creating, managing, distributing, and monetizing content.
Veritone Digital Media Hub, an AI-powered asset management and monetization solution has helped organizations across the media and entertainment space increase efficiency and generate more revenue from their assets. Powered by aiWARE, a hyper-expansive Enterprise AI platform, this solution and its underlying platform have empowered organizations from the sport industry, such as the LA Chargers and partners covering the famous 24h Nȕrburgrung race, to film and TV archives such as PROGRESS and Carson Entertainment, It’s AI technology that has helped these organizations further activate their media and generate more revenue through expanding their ability to find, discovery, share, and monetize their assets.
Spurred by the explosion in content creation, especially with formats such as audio and video, companies have realized that their legacy systems cannot support the scale, speed, and efficiency they need to remain competitive. And if they are an organization that’s been around for many years, their archive might include aging media formats—that was the case for the San Francisco Giants.
In a recent video for the Business Ready on AWS series, Veritone president Ryan Steelberg discussed how the San Francisco Giants used Veritone Digital Media Hubto preserve and activate their 60-year-old archive. With old film reels deteriorating in storage sites, the Giants needed to digitize their content to preserve it and streamline their content management workflow. Though they were initially seeking a DAM solution, the Giants were also able to see the benefits of AI because Veritone solutions are built on Veritone aiWARE, a hyper-expansive Enterprise AI platform.
With this native integration, the San Francisco Giants instantly received access to an ecosystem of more than 300 best-of-breed AI models that they can use on-demand, including translation, transcription, object and logo recognition, and much more. With the support of the Veritone AI ecosystem, they have been able to unlock the full potential of their content, surfacing previously undiscovered footage of legendary player Willie Mays teaching rookies how to hit during the 1970s, for example.
AI expansion into other areas of the business
Now that organizations like the San Francisco Giants are in the Veritone ecosystem, they can explore opportunities to extend their capabilities like some of our other media customers. For example, one of the largest audio groups in the United States, specializing in radio and podcasting, started out with the need to automate the tracking of their live content.
Shortly after adopting a solution to this initial problem, they realized that they could also use AI to provide effective ad attribution for their radio stations, which has traditionally been harder to track when compared with digital channels. Now, they can easily correlate an increase in web traffic with a radio ad to prove attribution and optimize performance, helping them win and retain more advertisers.
Extending their capabilities with AI did not end there. Given the potential that synthetic voice offers in the audio space, from translating content into other languages using the host’s voice to reducing studio time for on-air talent, the organization adopted Veritone Voice to put them ahead of their competitors in creating fresh content and positioning them for a potential metaverse play in the future.
A flexible AI ecosystem
Organizations often perceive AI as something they need but don’t know where to start. As outlined above, adopting AI doesn’t mean a heavy lift that involves a total rip and replacement of current systems.
We’ve seen most companies start small, adopting a solution to solve an immediate problem. Once adopted, adjacent capabilities and opportunities quickly emerge, allowing them to roll out even more AI capabilities to other parts of the organization.And this is true for all industries outside of media and entertainment, including the energy and government sectors.
By leveraging Veritone aiWARE as the foundation to your AI journey, your organization will benefit from multiple entry points with industry-focused solutions and pre-built applications so that you can start adopting AI with minimal disruption to current operations. After all, AI is no longer a “nice to have”; it’s a means to gain or maintain a competitive edge.
Further Reading:
Top 10 Capabilities you Need in an Enterprise AI Platform (Part 1)
Top 10 Capabilities you Need in an Enterprise AI Platform (Part 2)
How an AI-Enabled Digital Asset Management Platform Helps You Maximize the Value of your Content