At JW Insights, experts discuss machine learning’s impact on the future of digital media
Rooted in the idea that machines can be as smart as humans, machine learning applies the concept of artificial intelligence to learn from data and autonomously improve performance based on that information. At JW Insights 2018, industry experts, including JW Player’s SVP of Technology, John Luther, shared their thoughts on what machine learning can—and can’t—do in our rapidly evolving digital age. Here are three takeaways.
Machine learning improves editorial processes and monetization opportunities.
Without a doubt, companies are increasingly seeing concrete benefits from machine learning. Through the power of data, publishers can understand the content and performance of videos, where content should be distributed, and why some content does better than others. Workflows have become more efficient too. “We don’t waste our time on tagging. We can focus on what’s interesting in producing content,” said Jana Meron, SVP Programmatic & Data Strategy at Business Insider.
Hillary Henderson, Senior Director of Product Management and Strategy at IBM Watson Media, added that intelligence-powered recommendations engines aren’t just important for engagement but also for monetization. “If you can better match content to the next video and achieve a double or triple lift in views, that’s important for advertisers to see,” she said.
Machine learning is a work-in-progress.
The apparent benefits of machine learning have sparked an even greater opportunity for growth. Machine learning is consistently evolving. “Everybody’s talking about it,” said Hillary. “But machine learning is just a tool; it’s as good as the data you put into it.”
And these data points are far from static. “People’s interests change. In terms of recommendations engines, it’s not just, ‘you’ll like this’ or ‘you’ll always choose this.’ The learning that machines have to do is much more of a process,” said John.
Calm down, machines aren’t going to rule the world.
While machine learning has driven unprecedented innovation, panelists reached the consensus that it will never fully replace human ingenuity. “There’s this belief that data can solve anything. There still has to be a human element to it,” said John. Jana agreed, saying that, “People are very important. Machines are not taking over the world.”
Watch the full session - click here.
For more posts from our JW Insights blog series, click here.
To learn about how JW Player can support your video business, schedule time to speak with a video expert.