Artificial Intelligence (AI) has always had fantastical appeal. Imaginative ideas of futuristic superhuman technology provide endless material for storytelling, inspiring humans to create worlds where the impossible is performed with ease. These ideas, however, once at home in seemingly distant dreams, are moving from fiction into reality as AI continues to take root in common business practices. While the hype surrounding advancements in AI is often confined to tech fields, many in the creative industries are taking notice as AI-specific terms like Big Data, predictive analytics, and natural language processing become household words. For those companies implementing AI in the right way at the right time, the systems set to disrupt technology-based industries become the very tools with which they’ll climb their way to the top.
As discussions on AI increase, so does the hype—and therefore the confusion— surrounding it. Comprised from the findings of over six months of research, the results of an international survey of ~300 participants, plus interviews and conversations with industry professionals, including many CEOs, editors and representatives across different functions, the following White Paper is a result of the joint effort between Frankfurter Book Fair and management consultancy Gould Finch to demystify AI and help those in the publishing industry (including book publishing, magazines, newspapers and digital publishers) understand its application in business practices by contextualizing the core technologies driving it. Given the varying stages of development of different AI technologies, it is too early to definitively state how they will change the publishing industry–but without question the impact will be immense. This paper outlines the challenges companies are currently facing as they consider how best to implement AI and presents suggestions for where to concentrate efforts and attention to realize the most benefits