The Impact of Generative AI on Media and Entertainment: Insights from Dr. Anthony Palomba
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By Jon Greenwood, GBK Collective CEO and Co-Founder
We're in the early stages of arguably one of the most transformative technology trends ever with the emergence of generative AI. Not only is it making a significant impact on consumer insights, marketing, and analytics – our core focus at GBK Collective – it's also reshaping roles across industries.
In this blog post, I discuss how generative AI is transforming the media and entertainment industry with insights from GBK Advisor Dr. Anthony Palomba, Assistant Professor at the University of Virginia Darden School of Business, who has been working first-hand with Hollywood writers, directors and producers to effectively apply AI models to complement their creative process.
I also touch on some related findings from GBK’s extensive new study on “The Rise of Generative AI Across Enterprises”, co-directed by Wharton Professor Stefano Puntoni, Director of AI at Wharton.
THE RISE OF GENERATIVE AI ACROSS ENTERPRISES -> CLICK HERE TO GET THE FULL REPORT
AI and the Creative Process: Enhancing Human Potential
From accurate prediction of consumer behavior and media measurement to assisting with creation of content, images, and video, AI has made a dramatic impact on media and entertainment.
Now with the rise of generative AI, we are seeing AI models like ChatGPT and Google’s Bard act as a true creative partner or co-pilot rather than just an automation tool. But that claim is not without controversy. Many employees, creators, and marketers worry that generative AI will in fact replace jobs.
“Artificial intelligence can feel untamed and boundless at times. After all, how can you rein in something that is constantly changing? No other medium has experienced such rapid evolution.” - Prof. Anthony Palomba at U. of Virginia Darden School of Business
That concern was at the heart of the Hollywood actors and screenwriters strike that recently ended with a deal that put some much-needed guardrails on the entertainment industry's use of generative AI. But even with these safeguards now in place, generative AI can feel at times like the wild west.
"Artificial intelligence can feel untamed and boundless at times,” said Prof. Palomba. “After all, how can you rein in something that is constantly changing? No other medium has experienced such rapid evolution. It is unencumbered by human eccentricities, egos, emotions or worries germane to human experience. This is precisely why AI requires, and likely always will require, some level of human guidance."
Understanding Generative AI’s impact
We are still in the early stages of fully understanding generative AI’s impact, but it’s clear that we’ve reached a tipping point in terms of adoption. In fact, according to GBK’s new study, the majority of enterprise leaders now use generative AI at work.
Use cases are also growing rapidly. When asked what applications would be most prominent for generative AI, leaders across functional areas listed data analysis (89%), marketing content and creation (text, images, video) (87%), researching customer & competitive insights (84%), document editing and summarization (84%) as the top use cases.
For the media and entertainment industry, generative AI is rapidly changing how media is produced, distributed, and consumed, boosting efficiency and enhancing creativity. Creative teams around the world are also using the technology to iterate ideas from script writing and dialogue to marketing campaigns and ad copy. A prime example is Coca-Cola’s latest campaign that allows people to create and share holiday-themed greeting cards using the combined capabilities of ChatGPT-4 and Dall-E 2.
Create Real Magic uses GPT-4 and Dall-E 2. The Coca-Cola Company
What does AI mean for originality?
The exponential speed at which generative AI is growing also raises questions about its influence. What does generative AI mean for the concept of originality? How do we define and protect the authenticity of human-created works in an age where AI can mimic and produce similar content?
As Prof. Palomba aptly puts it, "generative AI can act as the compass, guiding us down uncharted paths as we develop our ideas. It also helps level the playing field, making it less about technical skills and more about the idea itself. In the end, it is up to humans to direct and guide AI to amplify their creativity and make sure it’s headed down the right path.”
A related challenge is intellectual property issues arising from AI's role in content creation. Despite the recent guardrails the entertainment industry agreed to, there remain some gray areas in AI-generated content, where the distinction between original and derivative work is still fuzzy.
“Take the music industry for example,” said Palomba. “You can imagine AI could help to enable some unique collaborations in the music industry, such as an AI-generated song by Drake and The Weeknd. AI has potential to take remixes or sampling of music to another level. But it needs to be done in the right way, with the permission of and paying homage to artists. With AI, it's difficult because it's ingesting far more content than people can keep track of.”
“Generative AI can act as the compass, guiding us down uncharted paths as we develop our ideas. It also helps level the playing field, making it less about technical skills and more about the idea itself.
In the end, it is up to humans to direct and guide AI to amplify their creativity and make sure it’s headed down the right path.”
- Prof. Anthony Palomba
Navigating Challenges and Risks
While generative AI can help teams to be more productive and even produce higher-quality work, it's not without its challenges. Concerns around inaccurate results, privacy, ethical issues, and cost were some of the top barriers to adoption cited by enterprise leaders in GBK’s study. But it’s also clear that human behavior and psychology play a role in AI adoption and frequency of use by leaders – whether it’s pride, ego, or fear of job displacement.
As Prof. Palomba rightly points out, “an AI model is only as good as what you're feeding it. Bias or hallucinations can creep into AI-generated content, potentially taking you off track from your original intent or worse perpetuating stereotypes that limit diversity. It's essential for creators and marketers to remain vigilant, actively working to mitigate bias and ensure inclusivity in their content."
The rapid rise of generative AI also requires companies to embrace a learning mindset. As GBK President Jeremy Korst and Wharton Professor Stefano Puntoni outlined in their recent HBR article, maximizing the potential of AI systems “will hinge on clear understanding, conscious experimentation, and careful consideration of both risks and rewards”. Organizations not only need to invest in training programs but also establish policies to safeguard customer data and ensure quality control.
Generative AI also requires that organizations evolve how they approach measurement. How do we take advantage of AI to measure data in new ways? And what lessons or insights can we uncover based on experimentation to apply to projects in the future?
"AI can help generate hyper-targeted content for any audience, while also bringing incredible efficiencies when it comes to measurement and understanding consumer behavior” notes Palomba. “The goal is to empower creative teams to bring their unique ideas to life, while also measuring consumer engagement for content in a more real-time way."
“My advice for leaders is to experiment with generative AI and brainstorm with it. Recognize that it's limited, but also understand that it can help you iterate and build out your ideas. Use AI to challenge yourself to ask deeper, more meaningful questions.” - Prof. Anthony Palomba
Looking forward
At the end of the day, generative AI should be viewed as a collaborative co-pilot, rather than a replacement for human creativity.
“My advice for leaders is to experiment with generative AI and brainstorm with it,” continues Palomba. “Recognize that it's limited, but also understand that it can help you iterate and build out your ideas. Use AI to challenge yourself to ask deeper, more meaningful questions.”
Perhaps generative AI’s biggest limitation is the fact that it's not human. “AI will never truly understand the nuances of human experience and emotion,” continues Palomba. “It can only imitate and amplify what humans share with it.”
As we leverage the power of this transformative technology, we also must stay true to ourselves and the unique ideas and experiences that make us human.
Looking for more insights on emerging trends with generative AI and how you can maximize impact for your business? Click here to get a copy of our full report.