AI, Machine Learning Can Help Stem Service Hopping, Says Parks
The most successful video services will use innovative technology, such as artificial intelligence (AI) and machine learning (ML) to drive high engagement with consumers through advanced content moderation and curation, said Parks Associates analyst Sarah Lee in a Friday report.…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
AI and ML can create a personal experience by using data to understand patterns and relationships at a granular level, beyond recommendations offered by big-data systems, she said. About 30% of U.S. internet households are "service hoppers" who frequently switch services and resubscribe multiple times, according to Parks data, and businesses may be able to use AI to cut down on the practice, she said. AI and ML use cases “are just starting to scratch the surface,” she said. "By understanding the viewer on a deeper, personal level, businesses can deliver a more positive, individualized experience that drives acquisition, satisfaction, and retention," Lee said. Some 83% of U.S. internet households subscribe to at least one over-the-top video service; 45% still subscribe to a linear pay-TV service, Parks said.