'Media companies can transform into event-driven businesses with intelligent technologies'
Kulmeet Bawa, President and Managing Director for SAP Indian Subcontinent, shares insights on media companies, their digital transformation and overall industry scenario
Industries across sectors have begun to experience the positive impact of digital transformation. For the media industry, this disruption has already happened and is changing the business landscape forever. Technology will continue enabling content creation, content consumption, and monetisation, as well as targeted audience engagement and provide exceptional customer experiences. Kulmeet Bawa who took over the role of President and Managing Director for SAP Indian Subcontinent, in July this year, shares insights on media companies, their digital transformation and overall industry scenario.
Q) ‘By 2022, most global revenue in media will come from digital revenue’ says a statement on your website. How do you view this scenario in India? What are the key focus areas for you in this sector?
Media companies have been at the forefront of digital transformation. From the outset, consumers have driven this transformation, combined with digital native companies entering the industry. The winners will be those media companies that drive deep, intimate, personalised, and engaging relationships with consumers in a world of almost infinite media choices.
Q) Machine learning, Internet of Things (IoT) and advanced analytical technologies have gained more significance now. What are still some of the challenges that Indian companies, specifically the media industry is facing in terms of adopting these technologies and gaining traction from them?
An intelligent enterprise enables employees to focus on higher-value outcomes and invent new business models and revenue streams. By applying intelligent technologies such as the Internet of Things (IoT), AI, machine learning, and advanced analytics, leading media companies can transform into event-driven businesses. These event-driven businesses automate repetitive tasks, enable employees to focus on higher-value tasks, and allow the invention of new business models or revenue streams by monetizing data-driven capabilities and applying core competencies in new ways. Certain areas that need attention by the media industry are:
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