MEDIA MUST USE AI TO DRIVE EFFICIENCY AND CUT COSTS - WONG

GEORGE TOWN, Dec 19 (Bernama) -- The media has no choice but to invest in Artificial Intelligence (AI) tools as it grapples with mounting challenges, including lower profits against increasing fixed costs, says Malaysian National News Agency (Bernama) chairman Datuk Seri Wong Chun Wai.

He said AI helps to reduce manpower and is capable of generating more content such as videos, stories, clips, posts, shows as well as more versions for different platforms.

"More content means more opportunities for monetisation and possibly less manpower, less fixed costs and less salaries.

"But this is inevitable if we wish to ensure the survival of media companies," he said when delivering his address on "Using AI, Driving Efficiency and Cutting Costs in Media Companies" at the 58th Annual Conference of the World Chinese Language Press Institute at the Lin Xiang Xiong Art Gallery, here today.

The two-day event is held in conjunction with the host, Penang-based Kwong Wah Jit Poh newspaper's 115th anniversary. 

The daily which was founded in 1910 by China revolutionary Dr Sun Yat Sen when he was in exile in Penang, is regarded as the world's oldest surviving Chinese newspaper.

Meanwhile, Wong said AI also improved audience engagement as media companies would now know accurately what their audience wanted.

"AI helps you to produce new types of content that advertisers love. Al helps better audience targeting, reporting, segmentation and prediction of content performance.

“It is crucial that the content, media outlets produced should be relevant and timely,” he said.

The National Journalism Laureate said AI has helped to reach wider audiences which would translate into more markets, subscribers, sponsorships and views.

Wong, who does not speak Mandarin, shared that he has produced videos using AI-generated Mandarin, which even his friends were unable to distinguish from human-produced content.

The prominent journalist also spoke about potential monetisation on social media as well as new paid services.

Wong conceded that not all his ideas would work but was confident that AI would help the media generate income.

Earlier, the conference was officiated by Penang Chief Minister Chow Kon Yeow while Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong was also present.

The conference was attended by over 80 media practitioners from Malaysia, China, Taiwan, Hong Kong, Macau, Indonesia, Singapore, the Philippines and Canada.

-- BERNAMA