1 00:00:00,280 --> 00:00:03,760 Speaker 1: Since you're a subscriber to this Bloomberg podcast, we thought 2 00:00:03,760 --> 00:00:07,240 Speaker 1: you'd be interested in a new four episode sponsored podcast 3 00:00:07,360 --> 00:00:12,400 Speaker 1: called The ROI Rules of AI. Produced by IBM and 4 00:00:12,440 --> 00:00:16,520 Speaker 1: Bloomberg Media Studios. It explores how business leaders are thinking 5 00:00:16,560 --> 00:00:21,759 Speaker 1: about the return on investment of artificial intelligence projects. You 6 00:00:21,800 --> 00:00:26,200 Speaker 1: can subscribe wherever you listen to your favorite podcasts. Here's 7 00:00:26,320 --> 00:00:30,560 Speaker 1: a recent episode. It's the first Sunday in February and 8 00:00:30,640 --> 00:00:34,000 Speaker 1: a Los Angeles arena is packed from music's biggest night, 9 00:00:34,479 --> 00:00:39,320 Speaker 1: the Grammy Awards. Millions of fans worldwide are tuning in 10 00:00:39,479 --> 00:00:42,560 Speaker 1: to see which of almost nine hundred artists will bring 11 00:00:42,600 --> 00:00:46,640 Speaker 1: home the Golden Gramophones in close to one hundred categories. 12 00:00:59,000 --> 00:01:02,600 Speaker 1: But as the show's you've only had three months since 13 00:01:02,600 --> 00:01:06,119 Speaker 1: the nominations were announced. To promote the best of music 14 00:01:06,200 --> 00:01:12,560 Speaker 1: this year across every genre and on every conceivable digital platform, 15 00:01:12,840 --> 00:01:16,280 Speaker 1: the National Academy of Recording, Arts and Sciences faces that 16 00:01:16,400 --> 00:01:17,559 Speaker 1: challenge every year. 17 00:01:18,440 --> 00:01:23,039 Speaker 2: Attention is in short supply, but we depend on that 18 00:01:23,160 --> 00:01:26,440 Speaker 2: as an organization, not just for the awards, but ultimately 19 00:01:26,480 --> 00:01:28,600 Speaker 2: for all the other activities that we're doing that are 20 00:01:28,640 --> 00:01:34,920 Speaker 2: there to celebrate. An advocate for creators, capturing audiences is 21 00:01:34,959 --> 00:01:38,480 Speaker 2: an important challenge that any organization has. 22 00:01:38,800 --> 00:01:42,920 Speaker 1: That's panos A Pina, President of the Recording Academy. To 23 00:01:43,000 --> 00:01:46,959 Speaker 1: address that challenge, the Academy partnered with IBM to create 24 00:01:47,000 --> 00:01:51,520 Speaker 1: an AI powered content engine that could quickly create social 25 00:01:51,560 --> 00:01:56,160 Speaker 1: content and insights about every Grammy nominee during the Compressed 26 00:01:56,240 --> 00:02:02,280 Speaker 1: Awards season from IBM and Bloomberg Media Studios. This is 27 00:02:02,320 --> 00:02:06,480 Speaker 1: the ROI Rules of AI and I'm your host Edward Adams. 28 00:02:07,480 --> 00:02:11,359 Speaker 1: On this podcast, we're exploring how organizations of all sizes 29 00:02:11,720 --> 00:02:15,799 Speaker 1: are using AI to remake their operations, increasing their return 30 00:02:15,840 --> 00:02:24,920 Speaker 1: on investment and that of their customers. Penay graduated from 31 00:02:25,000 --> 00:02:28,639 Speaker 1: Boston's prestigious Berkeley College and Music with a degree in 32 00:02:28,760 --> 00:02:32,919 Speaker 1: Music Business Management, and later served as the institution's senior 33 00:02:33,000 --> 00:02:37,880 Speaker 1: vice president of Global Strategy and Innovation, overseeing its campuses 34 00:02:37,919 --> 00:02:42,239 Speaker 1: in New York City, Valencia, Spain, and Abu Dhabi. He's 35 00:02:42,280 --> 00:02:48,079 Speaker 1: also an amateur guitarist and trombonist. The nonprofit Recording Academy 36 00:02:48,160 --> 00:02:52,120 Speaker 1: is composed of twenty two thousand members, not just performers, 37 00:02:52,400 --> 00:02:56,840 Speaker 1: but songwriters, arrangers, engineers, producers, and everyone else in the 38 00:02:56,919 --> 00:03:02,079 Speaker 1: music creative community. It advocates on public policy issues affecting music, 39 00:03:02,639 --> 00:03:07,680 Speaker 1: undertakes educational activities, and supports musicians in need through its 40 00:03:07,760 --> 00:03:12,440 Speaker 1: Music Cares philanthropy. But it's best known for celebrating excellence 41 00:03:12,639 --> 00:03:16,880 Speaker 1: at the annual Grammy Awards. The Recording Academy has a 42 00:03:16,919 --> 00:03:20,960 Speaker 1: five person editorial team, but their need for content about 43 00:03:21,000 --> 00:03:24,920 Speaker 1: Grammy nominees outstrips their ability to create it during the 44 00:03:24,919 --> 00:03:28,840 Speaker 1: busy Awards season. Having worked with IBM on a variety 45 00:03:28,840 --> 00:03:32,440 Speaker 1: of projects stretching back almost a decade, the Academy saw 46 00:03:32,480 --> 00:03:37,240 Speaker 1: this as an opportunity to use IBM's what'sonex technology as 47 00:03:37,240 --> 00:03:38,520 Speaker 1: a force multiplier. 48 00:03:39,320 --> 00:03:43,640 Speaker 2: I've always seen technology as a great amplifier of human creativity, 49 00:03:44,080 --> 00:03:47,560 Speaker 2: so in collaborating with Watson X, we've been looking to 50 00:03:47,720 --> 00:03:53,000 Speaker 2: amplify the capabilities of our own editorial team. From our standpoint, 51 00:03:53,200 --> 00:03:59,760 Speaker 2: every nominee, every genre, irrespective of whether it's popular or not, 52 00:04:00,640 --> 00:04:02,160 Speaker 2: deserves its. 53 00:04:02,200 --> 00:04:05,000 Speaker 3: Own moment in the sun, its own celebration. 54 00:04:05,360 --> 00:04:08,720 Speaker 2: This is where our collaboration with Watson X can be 55 00:04:09,160 --> 00:04:14,120 Speaker 2: extremely transformational in our ability to celebrate not only a handful, 56 00:04:14,200 --> 00:04:16,920 Speaker 2: but every single one of our nominees. 57 00:04:21,000 --> 00:04:24,000 Speaker 1: IBM in the Recording Academy began the two month project 58 00:04:24,240 --> 00:04:28,640 Speaker 1: using large language models and then infused them with all 59 00:04:28,720 --> 00:04:31,719 Speaker 1: the content and data the Academy had created over the 60 00:04:31,800 --> 00:04:36,760 Speaker 1: years about nominees. That also changed the role of the 61 00:04:36,800 --> 00:04:41,359 Speaker 1: Academy's editorial team from that of reporters and writers to 62 00:04:41,480 --> 00:04:44,960 Speaker 1: becoming editors who checked every piece of content created for 63 00:04:45,080 --> 00:04:50,320 Speaker 1: accuracy and the Grammys brand voice. 64 00:04:49,000 --> 00:04:52,799 Speaker 2: Our people and they're absolutely hands on. It's always great 65 00:04:52,839 --> 00:04:55,359 Speaker 2: to have a human editor taking a look. 66 00:04:56,160 --> 00:04:59,960 Speaker 1: Content range from artists insights to enhance the Grammy livestream 67 00:05:00,080 --> 00:05:05,680 Speaker 1: viewing experience, to social assets about various award categories and nominees. 68 00:05:06,680 --> 00:05:10,480 Speaker 2: We generated over four million impressions across our social channels 69 00:05:11,120 --> 00:05:16,120 Speaker 2: and over one million views on live dot Grammy dot 70 00:05:16,120 --> 00:05:22,960 Speaker 2: com during our live stream. 71 00:05:23,080 --> 00:05:27,200 Speaker 1: The project delivered the Recording Academy's most valuable commodity, the 72 00:05:27,279 --> 00:05:28,920 Speaker 1: attention of music fans. 73 00:05:29,279 --> 00:05:33,320 Speaker 2: Says Peney, the single most important currency today is attention 74 00:05:34,200 --> 00:05:38,599 Speaker 2: and ultimately all of us. Whether your corporation that's selling 75 00:05:38,600 --> 00:05:41,640 Speaker 2: a widget or whether you are an organization like the 76 00:05:41,680 --> 00:05:46,920 Speaker 2: Recording Academy, the intelligent creation of content is a megaphone 77 00:05:47,360 --> 00:05:48,719 Speaker 2: for your activities. 78 00:05:50,000 --> 00:05:53,159 Speaker 1: The Recording Academy had set itself up for success in 79 00:05:53,279 --> 00:05:57,760 Speaker 1: two ways before ever undertaking the Content Engine project. According 80 00:05:57,760 --> 00:06:01,400 Speaker 1: to Brian Fallon, vice president of Data, AI and Automation 81 00:06:01,960 --> 00:06:05,680 Speaker 1: for the US National Market at IBM. 82 00:06:05,480 --> 00:06:10,760 Speaker 4: One, they were maniacally focused on the quality of their data. Right, 83 00:06:10,800 --> 00:06:14,279 Speaker 4: That's the basis of everything, because what you're going to 84 00:06:14,400 --> 00:06:16,640 Speaker 4: put into this is what you're going to get out 85 00:06:16,680 --> 00:06:18,719 Speaker 4: at the end. And they already had done that in 86 00:06:18,760 --> 00:06:24,320 Speaker 4: a meticulous fashion. Two, they had set a policy for 87 00:06:24,360 --> 00:06:27,000 Speaker 4: how they were going to use AI. I would encourage 88 00:06:27,040 --> 00:06:29,520 Speaker 4: every company to do this. We've done it inside IBM. 89 00:06:29,880 --> 00:06:32,560 Speaker 4: You've got to understand what your guide rails are so 90 00:06:32,600 --> 00:06:35,640 Speaker 4: that you know what you can solve with the technology 91 00:06:35,720 --> 00:06:38,400 Speaker 4: versus what you're going to require humans to do. 92 00:06:39,080 --> 00:06:42,880 Speaker 1: AI has the ability to unlock value from existing data 93 00:06:43,000 --> 00:06:44,839 Speaker 1: that is in a variety of formats. 94 00:06:45,160 --> 00:06:49,080 Speaker 4: Falon says the data challenges that the Academy face was 95 00:06:49,120 --> 00:06:52,800 Speaker 4: not much different than other organizations. It's multimodal in terms 96 00:06:52,800 --> 00:06:58,640 Speaker 4: of not just binary data. It's videos, it's locked in PDFs, 97 00:06:58,760 --> 00:07:01,480 Speaker 4: presentations across many forms. 98 00:07:01,920 --> 00:07:05,120 Speaker 3: How do you unlock that and unleash. 99 00:07:04,760 --> 00:07:09,280 Speaker 4: The power of that data to your internal constituents and 100 00:07:09,320 --> 00:07:12,400 Speaker 4: your external clients? That's really what we were able to 101 00:07:12,480 --> 00:07:13,920 Speaker 4: do with this project. 102 00:07:14,800 --> 00:07:17,560 Speaker 1: Writing content about Grammy nominees is one of. 103 00:07:17,520 --> 00:07:22,760 Speaker 4: Those moments that matter, Moments that are highly repetitive but 104 00:07:23,000 --> 00:07:27,600 Speaker 4: manual in nature, and frankly, ones that your internal and 105 00:07:27,640 --> 00:07:31,600 Speaker 4: external clients complain about. Those typically are the use cases 106 00:07:31,640 --> 00:07:34,320 Speaker 4: where we want to start and then we work backwards 107 00:07:34,360 --> 00:07:38,280 Speaker 4: to utilize the data both known and unknown internal to 108 00:07:38,320 --> 00:07:41,960 Speaker 4: the organization and perhaps externally available to help go solve 109 00:07:42,000 --> 00:07:45,360 Speaker 4: those challenges. Leveraging the power of generative AI and automation. 110 00:07:46,520 --> 00:07:49,760 Speaker 1: For the Recording Academy, the return on investment in their 111 00:07:49,800 --> 00:07:53,960 Speaker 1: AI powered content engine ultimately wasn't just a means to 112 00:07:54,040 --> 00:07:57,800 Speaker 1: create a lot of content, but a means to communicate 113 00:07:57,840 --> 00:08:01,640 Speaker 1: with its audience on an emotional level. Panay says it 114 00:08:01,760 --> 00:08:05,520 Speaker 1: gave music fans a little taste of what he experiences 115 00:08:05,560 --> 00:08:08,800 Speaker 1: every year behind the scenes at the awards ceremony. 116 00:08:10,040 --> 00:08:12,760 Speaker 2: In terms of being in the room during the Grammys, 117 00:08:12,880 --> 00:08:16,680 Speaker 2: it's one of the most amazing experiences, frankly, you'll ever have. 118 00:08:16,760 --> 00:08:19,080 Speaker 3: I've been in the music industry for thirty years. 119 00:08:19,920 --> 00:08:24,160 Speaker 2: There's not been a Grammy Night that I've attended that. 120 00:08:24,520 --> 00:08:25,840 Speaker 3: Didn't blow me away. 121 00:08:26,280 --> 00:08:31,360 Speaker 2: Even sometimes among the most celebrated stars getting a Grammy 122 00:08:31,480 --> 00:08:32,840 Speaker 2: and what it means to them. 123 00:08:33,240 --> 00:08:35,240 Speaker 3: It's really touching on your obituary. 124 00:08:35,280 --> 00:08:38,200 Speaker 2: If you want a Grammy, it will be likely either 125 00:08:38,200 --> 00:08:39,559 Speaker 2: in the title or in the first line. 126 00:08:40,080 --> 00:08:44,439 Speaker 3: So being in the room when somebody's. 127 00:08:43,920 --> 00:08:52,440 Speaker 2: Life truly changes, that specialness doesn't go away. Ultimately, music 128 00:08:52,640 --> 00:08:57,280 Speaker 2: is an emotional thing and for us, connecting with audiences 129 00:08:58,600 --> 00:09:02,960 Speaker 2: around that is extremely important. The program with Watson X 130 00:09:02,960 --> 00:09:06,640 Speaker 2: and the Recording Academy captures everything we want to be 131 00:09:06,800 --> 00:09:10,000 Speaker 2: and the stories we want to develop. As a means 132 00:09:10,080 --> 00:09:12,880 Speaker 2: of creating that emotional engagement. 133 00:09:17,160 --> 00:09:20,559 Speaker 1: This has been the ROI Rules of AI, a podcast 134 00:09:20,600 --> 00:09:24,320 Speaker 1: from IBM and Bloomberg Media Studios. If you like what 135 00:09:24,400 --> 00:09:28,720 Speaker 1: you hear, subscribe and leave us a review. I'm Edward Adams. 136 00:09:29,160 --> 00:09:30,000 Speaker 1: Thanks for listening.