Artificial Intelligence (AI) technology is making its mark in the publishing industry, offering publishers new ways to streamline operations, improve efficiency, and enhance sales efforts. Publishers like Time and The Wall Street Journal are embracing generative AI to transform their business processes and deliver more turnkey offerings in a rapidly evolving digital landscape.
Time, for example, has been exploring the use of generative AI to improve its operations and workflows. Chief Information Officer Sharon Milz highlights the goal of doing more with less, aiming to reduce menial tasks across all departments. By testing AI tools for operational use cases, Time hopes to empower its teams and free up resources for more impactful projects.
Meanwhile, The Wall Street Journal (WSJ) has developed an AI-based ad tool called Thematic AI. This innovative tool allows clients to upload their marketing content into a library, which is then distributed as ad units to readers who are most likely to engage with the content. Leveraging WSJ’s first-party segment data and contextual information, Thematic AI enables faster deployment of campaigns and can significantly reduce the time required for traditional advertising initiatives.
The implementation of Thematic AI has yielded positive results for WSJ. Katie Weber, Senior Vice President of Commercial Strategy and Head of Financial Services at Dow Jones and The Wall Street Journal, explains that the tool has enabled rapid campaign deployment, reducing the time required from weeks to just a matter of one or two weeks. Through this AI-powered approach, WSJ’s sales team can better serve their clients and focus on high-touch campaigns, improving the chances of closing sales.
Both Time and WSJ are embracing AI tools to enhance their sales processes. Time, as a Salesforce customer, utilizes AI tools provided by the CRM software company to improve forecasting. By analyzing data from previous requests for proposals (RFPs) and sales decks, Time can assess the probability of closing an opportunity and prioritize efforts effectively. Additionally, AI tools assist in sales pitches by identifying specific keywords to promote products during client conversations. Time is also testing a product that automates PowerPoint presentations based on the company’s sales templates and design style.
These AI tools are measured using time frame Key Performance Indicators (KPIs). The organizations assess the amount of time saved by each tool to determine their effectiveness and whether they should be implemented across the board.
While publishers continue to explore the potential of AI, concerns regarding copyright and misinformation exist. However, the collaboration between AI companies and publishers is crucial for resolving these macro concerns. Sharon Milz emphasizes the importance of partnerships and licensing deals with generative AI companies to address misinformation and ensure the ethical application of AI technology.
As the publishing industry embraces AI, advertisers and buyers are eager to collaborate on data initiatives. Publishers with defined audiences have the opportunity to leverage their information and extend its reach through data collaborations. This collaborative approach allows for innovative and impactful strategies beyond relying solely on first-party data.
In summary, AI technology is revolutionizing the publishing industry, providing publishers with tools to streamline operations, boost efficiency, and enhance sales efforts. Time and The Wall Street Journal are leading the way, embracing AI to create more turnkey offerings, improve forecasting, and deliver targeted advertising campaigns. Through partnerships and ethical use of AI, publishers can navigate this evolving landscape while combating misinformation and maximizing their impact.
The publishing industry is being transformed by the adoption of artificial intelligence (AI) technology. AI offers publishers new opportunities to streamline operations, improve efficiency, and enhance sales efforts. Leading publishers like Time and The Wall Street Journal are embracing AI to revolutionize their business processes and deliver more turnkey offerings in the digital age.
Time has been actively exploring the use of AI to improve its operations and workflows. The goal is to reduce menial tasks across all departments and empower teams to focus on more impactful projects. By testing AI tools for operational use cases, Time aims to free up resources and enhance productivity.
The Wall Street Journal has developed an innovative AI-based ad tool called Thematic AI. This tool allows clients to upload their marketing content into a library, which is then distributed as ad units to the readers most likely to engage with the content. Leveraging first-party segment data and contextual information, Thematic AI enables faster deployment of campaigns, reducing the time required for traditional advertising initiatives.
Thematic AI has delivered positive results for The Wall Street Journal. The tool has enabled rapid campaign deployment, reducing the time required from weeks to just a matter of one or two weeks. With this AI-powered approach, the sales team can better serve clients and prioritize high-touch campaigns, increasing the chances of closing sales.
Both Time and The Wall Street Journal are utilizing AI tools to enhance their sales processes. Time, as a Salesforce customer, utilizes AI tools provided by the CRM software company to improve forecasting. Analyzing data from previous requests for proposals (RFPs) and sales decks, Time can assess the probability of closing an opportunity and prioritize efforts effectively. AI tools also assist in sales pitches by identifying specific keywords to promote products during client conversations. Time is also testing a product that automates PowerPoint presentations based on the company’s sales templates and design style.
The effectiveness of these AI tools is measured using time frame Key Performance Indicators (KPIs). By assessing the amount of time saved by each tool, organizations can determine their effectiveness and decide whether to implement them across the board.
While the adoption of AI in the publishing industry brings numerous benefits, concerns about copyright and misinformation arise. However, the collaboration between AI companies and publishers is vital to address these concerns. Partnerships and licensing deals with generative AI companies can help publishers combat misinformation and ensure the ethical application of AI technology.
As the publishing industry embraces AI, advertisers and buyers are eager to collaborate on data initiatives. Publishers with well-defined audiences have the opportunity to leverage their information and extend its reach through data collaborations. This collaborative approach allows for innovative and impactful strategies beyond relying solely on first-party data.
In summary, AI technology is revolutionizing the publishing industry by providing publishers with tools to streamline operations, boost efficiency, and enhance sales efforts. Time and The Wall Street Journal are at the forefront of this transformation, embracing AI to create more turnkey offerings, improve forecasting, and deliver targeted advertising campaigns. Through partnerships and the ethical use of AI, publishers can navigate this evolving landscape while combating misinformation and maximizing their impact.