The media-entertainment John Harrison chief at EY brings forth a visionary outlook for the coming year. Amidst the labyrinth of trends and transformations, Harrison’s insights offer a creative yet grounded perspective on the impending tide of artificial intelligence and its profound impact on the industry’s trajectory.
At the helm of EY’s America’s media & entertainment division, Harrison meticulously maps the industry’s shifting currents, foreseeing a landscape where AI emerges as a pivotal force reshaping the creative horizon. Reflecting on the past year’s fervent debates surrounding generative AI, Harrison foresees these discussions persisting, permeating deeper into the fabric of Hollywood and beyond in 2024.
“The media industry is in the midst of a paradigm shift, actively embracing AI-infused tools and solutions,” asserts Harrison. His forecast encapsulates a narrative where media conglomerates, forged and reformed through years of mergers and acquisitions, face a critical juncture in 2024. Strategic pathways beckon, but decisive actions hinge upon surmounting formidable hurdles.
In an exclusive discourse, Harrison delves into the industry’s AI challenges, steering the conversation away from the waning allure of the metaverse towards the resurgence of media M&A discussions, notably spotlighting Paramount Global’s speculated deal.
Anticipating the upcoming Consumer Electronics Show (CES), Harrison offers a tantalizing glimpse into its thematic undertones. “AI will reign as the defining motif,” he hints, drawing parallels to the metaverse’s prominence of yesteryears.
Expanding on his 2024 preview report, Harrison elaborates on AI’s enduring prominence. Amidst palpable enthusiasm for AI adoption within media enterprises, he delineates a cautious approach characterized by pilot projects and dedicated internal task forces. Productivity enhancement stands as a near-term goal, envisaging an AI-imbued framework streamlining backend operations and liberating human capital for high-value initiatives.
Yet, the horizon extends beyond efficiency gains, veering towards AI’s role in fostering growth. For media juggernauts, the focus pivots towards infusing Generative AI into the creative continuum. From expediting editing processes to personalized content curation on streaming platforms, the quest is to galvanize storytelling and audience engagement through AI innovation.
Harrison’s narrative paints a canvas where AI is not just a technological wave but a transformative tide reshaping the very essence of storytelling and media enterprise. As Hollywood readies itself for the year ahead, the cadence of AI echoes as the harbinger of a redefined creative landscape.
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