Artificial Intelligence (AI) is all around us, every day – embedded in apps and websites, it assists in data analysis, recommends streaming content and creates personalised shopping experiences. Artificial intelligence has also made its way into publishing; yet, in concrete terms, what challenges and effects should the industry expect? That is the question that Frankfurter Buchmesse and the management consultancy firm Gould Finch have explored through an international survey with 233 participants from 17 countries. The results, along with practical potential solutions, are now being published in an extensive White Paper.
A vast majority of those surveyed – CEOs and others employed in publishing, on average 41-years-old and with 13 years of professional experience – believe that the use of AI will have a powerful impact on publishing and will continue to grow in importance. That includes Holger Volland, Vice President Frankfurter Buchmesse: “For publishing houses, the possibilities and limits of artificial intelligence are becoming increasingly transparent – all around the world. Investments in AI are expected to enhance efficiency above all but also to create opportunities in new business areas. Yet it will be a challenge to integrate new technologies whilst also respecting the specific cultural characteristics of the publishing market.”
The industry is very aware of the importance and above all the potential of AI – 25% of the publishing houses surveyed have already invested in AI, and there is a clear upward trend. Yet, at the same time, this is also where the employees surveyed see the greatest challenge: large investments which, in their view, are coupled with uncertain results and the difficulty of finding the right partners and collaborators for implementation. Colin Lovrinovic, Managing Director of Gould Finch, sees a clear trend: “The results of the study and our research speak for themselves. There is no doubt that AI will become the essential key to success for the publishing industry. However, creative minds won’t be replaced by machines anytime in the near future – rather, it is much more a question of supporting publishers through clever optimisation to enable them to strengthen their core business.”
The results of the study are now available as part of the White Paper “The future importance of AI in publishing” at publishing.gouldfinch.com
In addition, the White Paper also includes many practical examples and potential solutions for how companies can integrate artificial intelligence.
Further information and the link to the study are available here: https://gouldfinch.com/en/the-future-impact-of-artificial-intelligence-on-the-publishing-industry/
Colin Lovrinovic, Managing Director of Gould Finch, will also present the study on Thursday, 17 October 2019, from 12 to 1 pm at the THE ARTS+ stage in Hall 4.1.
More infos about THE ARTS+/B3 festival: www.buchmesse.de and www.theartsplus.com
Contact for the media:
Press & Corporate Communication, Frankfurter Buchmesse
Katja Böhne, Vice President Marketing & Communications, Phone: +49 (0) 69 2102-138, email@example.com
Kathrin Grün, Head of Communications, Phone: +49 (0) 69 2102-170, firstname.lastname@example.org
Tina Pfeifer, PR Manager, Phone: +49 (0) 69 2102-271, email@example.com
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About Frankfurter Buchmesse
Frankfurter Buchmesse is the international publishing industry’s biggest trade fair – with over 7,500 exhibitors from 109 countries, around 285,000 visitors, over 4,000 events and some 10,000 accredited journalists and bloggers in attendance. It is the most important international marketplace for content – from novels and children’s books to academic databases and stories for films, games and virtual reality experiences. Publishing professionals from around the world meet here with partners from the technology sector and from related creative and cultural industries, sparking new partnerships and business models. A strong conference programme ensures that Frankfurter Buchmesse is a major source of inspiration for content experts from around the world. Since 1976, the book fair has featured an annual Guest of Honour country, which showcases its book market, literature and culture to attendees in a variety of ways. Frankfurter Buchmesse organises the participation of German publishers at around 20 international book fairs and hosts trade events throughout the year in major international markets. Frankfurter Buchmesse is a subsidiary of the Börsenverein des Deutschen Buchhandels (German Publishers & Booksellers Association). www.buchmesse.de/en
About Gould Finch
Gould Finch supports companies as a partner in their digital evolution. The technology-driven management consultancy firm not only offers advice about the latest innovations, but actually creates these themselves through intelligent products and services. Gould Finch provides support for both complex strategic issues and the concrete development and implementation of individual tools. The company’s areas of focus are the financial, energy and media sectors.
Using modular teams composed of consultants, data scientists and industry experts, Gould Finch always tailors its work precisely to each customer’s project – not just relying on proven methods but also always proactively keeping up with the times through its own developments based on artificial intelligence and machine learning.
Gould Finch has offices in Hamburg, Berlin and Düsseldorf, an international network of competent partners in Prague, Sydney and San Francisco and is an active member of the Bundesverband für Künstliche Intelligenz (Federal Association for Artificial Intelligence). https://gouldfinch.com/en/