Podcast advertising platforms connect podcasters with advertisers, facilitating the process of buying and selling ads on podcast shows. These platforms help advertisers find podcasts that reach their target audience while enabling podcast creators to monetize their content by selling advertising spots. They can offer various types of ads, such as pre-roll (before the show starts), mid-roll (during the show), and post-roll (after the show ends), as well as different pricing models, like cost per mile (CPM or cost per thousand listens), and direct sponsorships.

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Acast

Spotify Advertising

For any online advertisers, particularly ecommerce, using AI/ML to monitor and optimize digital advertising campaign effectiveness. Understanding how/where to best spend that money to maximize ROI. 


It's applying the same thinking as you noted Anil within financial services fraud of finding irregularities in the data, but just applied in the context of ad spending.

I interviewed close to 30 AI Founders on my podcast over the past 4-5 months and have been developing use cases for revenue growth over the past 7 months.  Here are the opportunities I have seen from that experience:


 1.  Turning decades of knowledge into minutes- when I tested the consumer version I was able to unearth 10 years of insights from hundreds of meetings in ChatGPT with 3 prompts.


2. Functional strategic workflows- I created a whole department within 20 minutes for Marketing, Sales and for Go to market.  They weren't 100% complete but if I or a peer was doing this manually it would take 6-8 hours.


3. Automated outcomes- without even using an agent I was able to acquire above average skills by typing in prompts in graphics (Midjourney), Copy writing (ChatGPT, Claude, etc.), summarize 300 page books (ChatGPT) and use a 1 prompt workflow that created a video, summary and social content in Chatgpt by using plugins.


There are many other use cases, but here are some great examples that come to mind.

Here are five examples of how AI/ML is creating value for business:

1. Improving customer service: AI-powered chatbots are now commonplace on many business websites, providing 24/7 customer support and answering questions quickly and accurately. AI is also being used to personalize the customer experience, such as by recommending products or services based on a customer's past purchase history and browsing behavior.


2. Automating tasks: AI can automate a wide range of tasks, from simple data entry to complex decision-making processes. This can free up employees to focus on more strategic and creative work, leading to significant cost savings for businesses.


3. Optimizing operations: AI can be used to optimize all aspects of a business's operations, from supply chain management to manufacturing to marketing. For example, AI can be used to predict demand for products and services, optimize inventory levels, and identify and address bottlenecks in production.


4. Developing new products and services: AI is being used to develop new products and services that would not be possible without it. For example, AI is used to develop self-driving cars, medical diagnostic tools, and personalized educational platforms.


5. Making better decisions: AI can help businesses make better decisions by analyzing large amounts of data and identifying patterns and insights that would be difficult or impossible for humans to spot on their own. For example, AI is being used to predict fraud, identify high-risk customers, and optimize marketing campaigns.

Here are some specific examples of how large companies are using AI to improve their business:

Netflix: Netflix uses AI to recommend movies and TV shows to its users based on their viewing history and preferences. This has helped Netflix to increase customer engagement and reduce churn.


Amazon: Amazon uses AI to personalize its product recommendations, optimize its supply chain, and detect fraud. This has helped Amazon to become one of the most successful companies in the world.


Walmart: Walmart uses AI to automate inventory management, pricing, and forecasting tasks. This has helped Walmart to reduce costs and improve efficiency.


Google: Google uses AI to improve its search results, develop new products and services, and personalize the user experience. This has helped Google to become one of the most valuable companies in the world.


BTW, Fred used AI to create the outline for this answer because it is efficient. AI is an accessible tool that can drive efficiency in text-based responses when the author prompts leveraging personal experience, and fact checks/edits the outcome based on expertise and human understanding.

AI-powered chatbots and virtual assistants enhance customer service by providing instant responses to inquiries, resolving issues, and on the other hand, Financial institutions use machine learning algorithms to assess credit risk by analyzing various data points, improving the accuracy of credit scoring models.

What are some examples of business value creation through AI/Machine Learning?

Best Podcast Advertising Platforms Reviews 2024 | Gartner Peer Insights

I would say my overall experience has been positive. Integration was smooth and the targeting options are strong. If I had to say a negative it'd probably be the reporting, as I kind of wish this was more advanced. And the minimum spend required which may be too high for smaller budgets/campaigns.

Through Spotify, we've been able to amplify our reach, engage with listeners authentically, and drive meaningful results. The platform's intuitive interface and features have helped us craft innovative ad campaigns that resonate with our target audience. With this platform, we are able to target audio-savvy target groups and specific genres effectively, yielding important business results.

Spotify

market leading audio buying vendor with innovative opportunities

Acast is a solid podcast publishing platform with good analytics insight, it lacks a few features that most of these platforms seem to lack as well.

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