Transformation Comes to High Production Content, Urgent Need for Responsible AI, Only 8% of Customers Use Chatbots, Employees Need AI Training

Entertainment Content Creation on Verge of Major Disruption via Digital Transformation

It is difficult to imagine a sector that has done more to alter consumer behaviors and expectations than the digital entertainment technology (ET) sector. The intuitive ability to access almost any experience (music, moving pictures, games, etc.) from any source at any time on any device has set the standard for how the rest of the economy addresses demand while fending off competition.

Over-the-top (OTT) streaming service providers have put pressure on traditional broadcasters and theatrical venues to up their game, as consumer electronics (CE) manufacturers participate in a frenetic race to rollout feature-rich phones, tablets, TVs, gaming consoles – and more – that are easier and more intuitive than ever to use.

Taken together, the good folks at PwC expect the Global Entertainment & Media market to hit a whopping $2.9 trillion in annual sales by 2026, as unhindered innovation is fueled by the adoption of cloud platforms, emerging technologies – like artificial intelligence (AI) – and novel business models.?

That said, one segment of the industry that has lagged a bit in breaking with its strategic, operational and technological past: the high-production values content creation community.

"When it comes to high-production content creation – the big movies, TV shows and live events that continue to drive consumer engagement – we haven't really seen a lot of change in over a hundred years," says Vince Pizzica in a podcast interview for journalists.?Read on here.

Emerging AI Risks Underscore Urgent Need for Responsible AI; More than 70% of Organizations Are Struggling to Keep Up — BCG & MIT

The artificial intelligence (AI) landscape has changed dramatically over the past year with the swift adoption of generative AI (GenAI), making it more difficult for organizations to be responsible with the technology and putting pressure on Responsible AI (RAI) programs to keep up with continuous advances. While more than half (53%) of organizations rely exclusively on third-party AI tools, having no internally designed or developed AI of their own, 55% of all AI-related failures stem from third-party AI tools, according to new research by MIT Sloan Management Review (MIT SMR) and 波士顿谘询公司 .

“The AI landscape, both from a technological and regulatory perspective, has changed so dramatically since we published our report last year,” says Elizabeth M. R. , MIT SMR guest editor and coauthor of the report. “In fact, with the sudden and rapid adoption of generative AI tools, AI has become dinner table conversation. And yet, many of the fundamentals remain the same. This year, our research reaffirms the urgent need for organizations to be responsible by investing in and scaling their RAI programs to address growing uses and risks of AI.”

“Now is the time for organizations to double down and invest in a robust RAI program,” says Steve Mills at BCG and coauthor of the report. “While it may feel as though the technology is outpacing your RAI program’s capabilities, the solution is to increase your commitment to RAI, not pull back. Organizations need to put leadership and resources behind their efforts to deliver business value and manage the risks.” Read on here.

Only 8% of Customers Used a Chatbot During their Most Recent Customer Service Interaction, Finds Gartner Survey

Despite customer service and support leaders’ growing focus on chatbots, customer use of them remains low, suggesting they don’t consistently help customers accomplish their goals.

A Gartner survey of 497 B2B and B2C customers from December 2022 through February 2023 found the ability of a chatbot to move the customer’s issue forward was the top driver of adoption, explaining 18% of the variance in customers’ likelihood to use their chatbot again.

“While many customer service and support leaders look to chatbots as the future of the function, customers clearly need some convincing,” said Michael Rendelman , Senior Specialist, Research, in the Gartner Customer Service and Support practice. “To improve chatbot adoption, the key is to focus on improving the chatbot’s ability to move customers’ issues forward.” Read on here.

Just 14% of Frontline Employees Have Received Training to Address How AI Will Change Their Jobs, but 86% of Employees Say They’ll Need It — BCG

From ChatGPT to DALL-E and all the technologies in between, the new wave of generative artificial intelligence (GenAI) systems is transforming business at a rapid pace. While employees are optimistic about how AI—and generative AI, in particular—will affect their work, feelings vary considerably by seniority and by country, according to new research released by 波士顿谘询公司 .

The research, titled AI at Work: What People Are Saying, is based on a survey of more than 12,800 employees from the executive suite to the front lines across industries in 18 countries around the world, to understand how the evolution of AI has impacted the workplace.

“GenAI is a rapidly evolving space, and its transformative impact is already being felt in workplaces around the world,” said Nicolas de Bellefonds , global leader of AI and Software at BCG X, BCG’s tech build and design unit, and coauthor of the research. “We’re launching the Center for Responsible Generative AI to support our clients and partners as they leverage and build next generation AI-powered solutions to drive positive impact and competitive advantage, while also informing new ways of working, upskilling talent, change management, and culture.”

Thirty-six percent of respondents think that their job is likely to be eliminated by AI. To prepare for the new era of AI at work, 86% of respondents believe they will need training to sharpen their skills. However, only 14% of frontline employees say they have gone through any upskilling training to date, compared with 44% of leaders.

“The companies that capture the most value from AI follow the 10-20-70 rule: 10% of their AI effort goes to designing algorithms, 20% to building the underlying technologies, and 70% to supporting people and adapting business processes,” said Vinciane Beauchene , a BCG managing director, partner and coauthor of the research. “Upskilling is essential and must be done continuously. It should go beyond learning how to use the technology and allow employees to adapt in their role as activities and skill requirements evolve.” Read on here.

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