3 Takeaways from the 2018 Fuse Media Summit

The Fuse Media: The Convergence of Technology & Media conference is a unique event that brings together top technology executives in media. The seminar gathers some of the brightest minds in media and technology to discuss how media companies can adopt the right technology more quickly and efficiently.

The 2018 Fuse Media conference was held in Philadelphia, PA from Monday, October 1st to Wednesday, October 3rd. This year, attendees benefited from:

• ​Expert analysis of next-generation publishing technology and trends
• ​Case studies that examined leading tech tools and solutions in a candid setting
• ​Intel and high-level meetings with leading vendors
• ​Connections with like-minded industry technologists who are elevating the media business

Attendees stayed in the heart of Center City at the Loews Philadelphia Hotel.

3 Takeaways from the 2018 Fuse Media conference

1. Data and technology are changing what it means to be a media company

Matthew Yorke, Chief Digital Officer at Northstar Travel Media, LLC and conference co-chair, delivered an opening keynote address that set the tone for the event. His presentation revealed how the leading B2B media firm, SourceMedia, uses technology adoption to drive business objectives such as launching data-based products and speeding time to market.

Yorke also emphasized the importance of “trustworthy information.” With incidents like the July 2017 Facebook account hack and the recent passing of GDPR legislation, privacy has become a major concern for marketers. Media companies are at a turning point, facing issues of brand safety and ad fraud.

Yorke explained that it’s the perfect time for media companies to reinvent themselves. Central to that reinvention is valuable first-party data, a first-in-class technology stack, and a monetization strategy that aligns with both.

2. Artificial Intelligence (AI) can be transformative … if you’re willing to fail

Kartik Hosanagar, University of Pennsylvania technology and digital business professor at The Wharton School, discussed the history and opportunities surrounding Artificial Intelligence (AI). He provided five practical steps to start in machine learning:

• ​Set up an AI brain trust of 8 to 12 people in the organization (including insiders and outsiders)
• ​The brain trust identifies a set of activities within your organization that can be automated using machine learning (ML)/Artificial Intelligence (AI)
• ​Classify these activities into short-term and long-term initiatives
• ​Construct a two-year ML portfolio, consisting of four to five short-term projects and at least one long-term project
• ​Determine how the AI team will fit into the organizational chart: build or buy versus centralized or decentralized

Hosanagar encouraged media companies to continue experimenting with AI, even if they fail early on, and to consider the underlying business adjustments required to take advantage of AI, such as organizational learning and consensus building.

3. Inefficiency is a real problem. Time – not budget – is the #1 obstacle to tech adoption

Brian Kroski, American Media’s Digital Strategic Advisor, and Rob Keenan, President of Keenan Media, explored objectives and obstacles associated with tech adoption. Media companies often lack the time and resources to evaluate new technologies when making technology investments.

Kroski and Keenan discussed Publishing Executive’s newest research report entitled “Tactics for Creating a More Agile Digital Tech Buying Strategy.” Their presentation covered tactics media companies are using to streamline their technology evaluation and adoption efforts.

To overcome the lack of time and resources, Kroski and Keenan recommend that media companies invest in the brains of the tech stack – audience analytics, social media, and search engine optimization (SEO).

The overall 2018 FUSE Media Summit confirmed that technology is here to stay and is enacting change in the media industry. Publishers need to find the right technology and continue experimenting with others like AI. To survive and thrive, it’s vital to adopt technology sooner rather than later and to allocate both time and financial resources to ensure success with tech adoption and implementation.