As technology evolves, the digital media landscape is witnessing a dramatic shift. In an era where social media dominates the way we communicate and new technologies are being introduced faster than we can keep up, industry professionals must adapt to the changes or risk falling behind their competitors.
These days it takes more than putting out a TV or print ad to successfully reach a target audience. Instead, media professionals will need to begin adopting new technology to entice their audience and improve productivity.
Media executive and founder of Freedom Park Media Group (FPMG), Toronto’s Eldon Mascoll has over two decades of experience in the arena. Eldon Mascoll says while it’s still important for professionals to maintain expert writing and communication skills, he also believes that success in digital media today requires being able to adapt to new digital platforms like Artificial Intelligence (AI).
In a recent interview he spoke about it at length:
“Artificial Intelligence is only getting bigger. Companies are being built around AI technology. It’s all encompassing when you look at how programmatic advertising works. It allows you to precisely identify your target and it’s changed the entire ad buying business. It’s gone beyond search. They’re also using AI in chat. Everything you do in the digital space is being monitored and acted upon. It’s scary but it’s the new world.”
Forbes Councils member Rob Gonda agrees, comparing the evolution of digital media to Darwinism. A media executive who has sold five companies and led digital transformations for Sapient, Catalina Mktg. and even McDonald’s, Gonda says companies who can’t adapt will simply fade away or be swallowed up by those who can.
“Connectivity, data analytics, artificial intelligence and the internet of things are rapidly changing our world and environment, and according to Moore’s Law, the pace of change will only grow,” he said.
Adapting to new technologies isn’t the only solution, as media professionals must also adapt their craft to changing societal trends. Journalists are at the forefront of this change.
“I’m surprised about the potential of audio and voice for journalism. Users will consume news by speaking and listening, less often by reading — and we have to prepare early on for shifts in user expectations,” said Stefan Ottlitz of Der Spiegel in an interview.
While writing is still an incredibly useful skill to have, Eldon Mascoll says understanding data and analytics are equally as important in today’s industry. Entrepreneurs are always looking at what new innovation is right on the doorstep or what improvements they can make to a technology or business model.
“Remembering not to rest on what you’ve achieved and to keep learning and improving,” said Mascoll. “That’s the winning mindset every entrepreneur should embrace.”