The ROI Rules of AI: Marketing the Grammys With AI (Sponsored Content)

Since you're a subscriber to this Bloomberg podcast, we thought 0:00:03.760 --> 0:00:07.240 you'd be interested in a new four episode sponsored podcast 0:00:07.360 --> 0:00:12.400 called The ROI Rules of AI. Produced by IBM and 0:00:12.440 --> 0:00:16.520 Bloomberg Media Studios. It explores how business leaders are thinking 0:00:16.560 --> 0:00:21.759 about the return on investment of artificial intelligence projects. You 0:00:21.800 --> 0:00:26.200 can subscribe wherever you listen to your favorite podcasts. Here's 0:00:26.320 --> 0:00:30.560 a recent episode. It's the first Sunday in February and 0:00:30.640 --> 0:00:34.000 a Los Angeles arena is packed from music's biggest night, 0:00:34.479 --> 0:00:39.320 the Grammy Awards. Millions of fans worldwide are tuning in 0:00:39.479 --> 0:00:42.560 to see which of almost nine hundred artists will bring 0:00:42.600 --> 0:00:46.640 home the Golden Gramophones in close to one hundred categories. 0:00:59.000 --> 0:01:02.600 But as the show's you've only had three months since 0:01:02.600 --> 0:01:06.119 the nominations were announced. To promote the best of music 0:01:06.200 --> 0:01:12.560 this year across every genre and on every conceivable digital platform, 0:01:12.840 --> 0:01:16.280 the National Academy of Recording, Arts and Sciences faces that 0:01:16.400 --> 0:01:17.559 challenge every year. 0:01:18.440 --> 0:01:23.039 Attention is in short supply, but we depend on that 0:01:23.160 --> 0:01:26.440 as an organization, not just for the awards, but ultimately 0:01:26.480 --> 0:01:28.600 for all the other activities that we're doing that are 0:01:28.640 --> 0:01:34.920 there to celebrate. An advocate for creators, capturing audiences is 0:01:34.959 --> 0:01:38.480 an important challenge that any organization has. 0:01:38.800 --> 0:01:42.920 That's panos A Pina, President of the Recording Academy. To 0:01:43.000 --> 0:01:46.959 address that challenge, the Academy partnered with IBM to create 0:01:47.000 --> 0:01:51.520 an AI powered content engine that could quickly create social 0:01:51.560 --> 0:01:56.160 content and insights about every Grammy nominee during the Compressed 0:01:56.240 --> 0:02:02.280 Awards season from IBM and Bloomberg Media Studios. This is 0:02:02.320 --> 0:02:06.480 the ROI Rules of AI and I'm your host Edward Adams. 0:02:07.480 --> 0:02:11.359 On this podcast, we're exploring how organizations of all sizes 0:02:11.720 --> 0:02:15.799 are using AI to remake their operations, increasing their return 0:02:15.840 --> 0:02:24.920 on investment and that of their customers. Penay graduated from 0:02:25.000 --> 0:02:28.639 Boston's prestigious Berkeley College and Music with a degree in 0:02:28.760 --> 0:02:32.919 Music Business Management, and later served as the institution's senior 0:02:33.000 --> 0:02:37.880 vice president of Global Strategy and Innovation, overseeing its campuses 0:02:37.919 --> 0:02:42.239 in New York City, Valencia, Spain, and Abu Dhabi. He's 0:02:42.280 --> 0:02:48.079 also an amateur guitarist and trombonist. The nonprofit Recording Academy 0:02:48.160 --> 0:02:52.120 is composed of twenty two thousand members, not just performers, 0:02:52.400 --> 0:02:56.840 but songwriters, arrangers, engineers, producers, and everyone else in the 0:02:56.919 --> 0:03:02.079 music creative community. It advocates on public policy issues affecting music, 0:03:02.639 --> 0:03:07.680 undertakes educational activities, and supports musicians in need through its 0:03:07.760 --> 0:03:12.440 Music Cares philanthropy. But it's best known for celebrating excellence 0:03:12.639 --> 0:03:16.880 at the annual Grammy Awards. The Recording Academy has a 0:03:16.919 --> 0:03:20.960 five person editorial team, but their need for content about 0:03:21.000 --> 0:03:24.920 Grammy nominees outstrips their ability to create it during the 0:03:24.919 --> 0:03:28.840 busy Awards season. Having worked with IBM on a variety 0:03:28.840 --> 0:03:32.440 of projects stretching back almost a decade, the Academy saw 0:03:32.480 --> 0:03:37.240 this as an opportunity to use IBM's what'sonex technology as 0:03:37.240 --> 0:03:38.520 a force multiplier. 0:03:39.320 --> 0:03:43.640 I've always seen technology as a great amplifier of human creativity, 0:03:44.080 --> 0:03:47.560 so in collaborating with Watson X, we've been looking to 0:03:47.720 --> 0:03:53.000 amplify the capabilities of our own editorial team. From our standpoint, 0:03:53.200 --> 0:03:59.760 every nominee, every genre, irrespective of whether it's popular or not, 0:04:00.640 --> 0:04:02.160 deserves its. 0:04:02.200 --> 0:04:05.000 Own moment in the sun, its own celebration. 0:04:05.360 --> 0:04:08.720 This is where our collaboration with Watson X can be 0:04:09.160 --> 0:04:14.120 extremely transformational in our ability to celebrate not only a handful, 0:04:14.200 --> 0:04:16.920 but every single one of our nominees. 0:04:21.000 --> 0:04:24.000 IBM in the Recording Academy began the two month project 0:04:24.240 --> 0:04:28.640 using large language models and then infused them with all 0:04:28.720 --> 0:04:31.719 the content and data the Academy had created over the 0:04:31.800 --> 0:04:36.760 years about nominees. That also changed the role of the 0:04:36.800 --> 0:04:41.359 Academy's editorial team from that of reporters and writers to 0:04:41.480 --> 0:04:44.960 becoming editors who checked every piece of content created for 0:04:45.080 --> 0:04:50.320 accuracy and the Grammys brand voice. 0:04:49.000 --> 0:04:52.799 Our people and they're absolutely hands on. It's always great 0:04:52.839 --> 0:04:55.359 to have a human editor taking a look. 0:04:56.160 --> 0:04:59.960 Content range from artists insights to enhance the Grammy livestream 0:05:00.080 --> 0:05:05.680 viewing experience, to social assets about various award categories and nominees. 0:05:06.680 --> 0:05:10.480 We generated over four million impressions across our social channels 0:05:11.120 --> 0:05:16.120 and over one million views on live dot Grammy dot 0:05:16.120 --> 0:05:22.960 com during our live stream. 0:05:23.080 --> 0:05:27.200 The project delivered the Recording Academy's most valuable commodity, the 0:05:27.279 --> 0:05:28.920 attention of music fans. 0:05:29.279 --> 0:05:33.320 Says Peney, the single most important currency today is attention 0:05:34.200 --> 0:05:38.599 and ultimately all of us. Whether your corporation that's selling 0:05:38.600 --> 0:05:41.640 a widget or whether you are an organization like the 0:05:41.680 --> 0:05:46.920 Recording Academy, the intelligent creation of content is a megaphone 0:05:47.360 --> 0:05:48.719 for your activities. 0:05:50.000 --> 0:05:53.159 The Recording Academy had set itself up for success in 0:05:53.279 --> 0:05:57.760 two ways before ever undertaking the Content Engine project. According 0:05:57.760 --> 0:06:01.400 to Brian Fallon, vice president of Data, AI and Automation 0:06:01.960 --> 0:06:05.680 for the US National Market at IBM. 0:06:05.480 --> 0:06:10.760 One, they were maniacally focused on the quality of their data. Right, 0:06:10.800 --> 0:06:14.279 That's the basis of everything, because what you're going to 0:06:14.400 --> 0:06:16.640 put into this is what you're going to get out 0:06:16.680 --> 0:06:18.719 at the end. And they already had done that in 0:06:18.760 --> 0:06:24.320 a meticulous fashion. Two, they had set a policy for 0:06:24.360 --> 0:06:27.000 how they were going to use AI. I would encourage 0:06:27.040 --> 0:06:29.520 every company to do this. We've done it inside IBM. 0:06:29.880 --> 0:06:32.560 You've got to understand what your guide rails are so 0:06:32.600 --> 0:06:35.640 that you know what you can solve with the technology 0:06:35.720 --> 0:06:38.400 versus what you're going to require humans to do. 0:06:39.080 --> 0:06:42.880 AI has the ability to unlock value from existing data 0:06:43.000 --> 0:06:44.839 that is in a variety of formats. 0:06:45.160 --> 0:06:49.080 Falon says the data challenges that the Academy face was 0:06:49.120 --> 0:06:52.800 not much different than other organizations. It's multimodal in terms 0:06:52.800 --> 0:06:58.640 of not just binary data. It's videos, it's locked in PDFs, 0:06:58.760 --> 0:07:01.480 presentations across many forms. 0:07:01.920 --> 0:07:05.120 How do you unlock that and unleash. 0:07:04.760 --> 0:07:09.280 The power of that data to your internal constituents and 0:07:09.320 --> 0:07:12.400 your external clients? That's really what we were able to 0:07:12.480 --> 0:07:13.920 do with this project. 0:07:14.800 --> 0:07:17.560 Writing content about Grammy nominees is one of. 0:07:17.520 --> 0:07:22.760 Those moments that matter, Moments that are highly repetitive but 0:07:23.000 --> 0:07:27.600 manual in nature, and frankly, ones that your internal and 0:07:27.640 --> 0:07:31.600 external clients complain about. Those typically are the use cases 0:07:31.640 --> 0:07:34.320 where we want to start and then we work backwards 0:07:34.360 --> 0:07:38.280 to utilize the data both known and unknown internal to 0:07:38.320 --> 0:07:41.960 the organization and perhaps externally available to help go solve 0:07:42.000 --> 0:07:45.360 those challenges. Leveraging the power of generative AI and automation. 0:07:46.520 --> 0:07:49.760 For the Recording Academy, the return on investment in their 0:07:49.800 --> 0:07:53.960 AI powered content engine ultimately wasn't just a means to 0:07:54.040 --> 0:07:57.800 create a lot of content, but a means to communicate 0:07:57.840 --> 0:08:01.640 with its audience on an emotional level. Panay says it 0:08:01.760 --> 0:08:05.520 gave music fans a little taste of what he experiences 0:08:05.560 --> 0:08:08.800 every year behind the scenes at the awards ceremony. 0:08:10.040 --> 0:08:12.760 In terms of being in the room during the Grammys, 0:08:12.880 --> 0:08:16.680 it's one of the most amazing experiences, frankly, you'll ever have. 0:08:16.760 --> 0:08:19.080 I've been in the music industry for thirty years. 0:08:19.920 --> 0:08:24.160 There's not been a Grammy Night that I've attended that. 0:08:24.520 --> 0:08:25.840 Didn't blow me away. 0:08:26.280 --> 0:08:31.360 Even sometimes among the most celebrated stars getting a Grammy 0:08:31.480 --> 0:08:32.840 and what it means to them. 0:08:33.240 --> 0:08:35.240 It's really touching on your obituary. 0:08:35.280 --> 0:08:38.200 If you want a Grammy, it will be likely either 0:08:38.200 --> 0:08:39.559 in the title or in the first line. 0:08:40.080 --> 0:08:44.439 So being in the room when somebody's. 0:08:43.920 --> 0:08:52.440 Life truly changes, that specialness doesn't go away. Ultimately, music 0:08:52.640 --> 0:08:57.280 is an emotional thing and for us, connecting with audiences 0:08:58.600 --> 0:09:02.960 around that is extremely important. The program with Watson X 0:09:02.960 --> 0:09:06.640 and the Recording Academy captures everything we want to be 0:09:06.800 --> 0:09:10.000 and the stories we want to develop. As a means 0:09:10.080 --> 0:09:12.880 of creating that emotional engagement. 0:09:17.160 --> 0:09:20.559 This has been the ROI Rules of AI, a podcast 0:09:20.600 --> 0:09:24.320 from IBM and Bloomberg Media Studios. If you like what 0:09:24.400 --> 0:09:28.720 you hear, subscribe and leave us a review. I'm Edward Adams. 0:09:29.160 --> 0:09:30.000 Thanks for listening.