Ryan Steelberg is CEO & President of Veritone. Read Ryan Steelberg's full executive profile here.
Digital asset management systems have become an essential tool for media professionals to organize, store and distribute content, including images, videos, documents and other media files. However, recent industry disruptions and trends have significantly challenged legacy DAM processes.consumption habits for digital media continued
Legacy DAM systems were not designed to handle the sheer scale and demand that media production and distribution have reached today. According to Gartner, many teams developed their content teams in a decentralized fashion, leading to silos that made it extremely challenging for collaboration. An overreliance on legacy systems is a key hurdle they face trying to overcome decentralization as organizations mature.
AI has emerged as a game-changer in DAM. By leveraging AI to manage media, media professionals can overcome legacy systems' limitations and unlock their digital assets' true potential. Most companies have a treasure trove of valuable media. However, because the content is not digitized or properly tagged, teams can't leverage it for various activities, including revenue opportunities like content licensing for live and archival rights.
However, media management isn’t always about direct licensing opportunities. Sports is one of the most complex media rights management and content access markets. For instance, with the upcoming Summer Olympics, rights holders will be asked to leverage a complex media management workflow to store something on the bill of 7,000 hours of footage.
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