The Digital Evolution of Publishing Giant Condé Nast w/ Tech Exec Sanjay Bhakta | Technovation 837

Summary

In this Technovation episode, host Peter High interviews Sanjay Bhakta, Chief Product and Technology Officer at Conde Nast. Bhakta discusses the company's transformation into a digital-first media company, with a focus on product platforms, e-commerce, live streaming, and AI. He highlights the importance of reusability across their 30+ brands and the centralization of technology and product teams to streamline innovation. The conversation also touches on the potential of generative AI in content creation and the future of the metaverse.

Takeaways

• 😀 Sanjay Bhakta is the Chief Product and Technology Officer at Conde Nast, a 104-year-old media company that has evolved into a digital organization with most of its revenue coming from digital sources.
• 🌐 Conde Nast's iconic brands, such as The New Yorker, Wired, Architectural Digest, Vogue, Vanity Fair, and Bon Appétit, are well-known, and the company operates in 12 owned and operated markets globally.
• 🔧 Sanjay is responsible for all technology aspects of the company, including product platforms, apps, live streaming, video production and distribution, data science, machine learning, analytics, and cybersecurity.
• 🤝 The decision to combine the roles of Chief Product and Technology Officer was intentional to align product and engineering efforts, streamline decision-making, and speed up product market launches.
• 🛠️ Conde Nast has made significant investments in e-commerce, building a product information management system and reusable components for e-commerce shops across brands.
• 📈 The company has centralized its technology on a single global product platform, allowing for the rapid deployment of new capabilities across all brands, enhancing efficiency and reusability.
• 🎥 A key accomplishment has been the development of a reusable live streaming platform, initially built for the Met Gala and since used for multiple high-profile events.
• 🤖 Sanjay sees AI playing a significant role in the future, particularly in idea generation, copy editing, and optimizing workflows, while also acknowledging concerns about the ethical use of AI and the need for original content.
• 🌟 The company is focused on using AI to enhance user experiences through personalized content, such as newsletters and recommendations, based on propensity modeling and first-party data.
• 🚀 Sanjay's career progression reflects a shift from engineering to broader product and platform responsibilities, highlighting the importance of continuous learning and adaptation in the tech industry.

Q & A

What is Sanjay Bhakta's role at Conde Nast?

Sanjay Bhakta serves as the Chief Product and Technology Officer at Conde Nast, overseeing all aspects of technology, including product platforms, apps, live streaming, video production and distribution, data science, machine learning, analytics, data warehousing, and enterprise technology.

How has Conde Nast evolved to become a digital media company?

Conde Nast, originally a magazine publisher, has transformed into a digital media company with the majority of its multi-billion dollar revenue now coming from digital sources. This includes digital publishing, digital video, events, e-commerce, and subscriptions.

What are some of the iconic brands owned by Conde Nast?

Conde Nast owns over 30 brands, with iconic ones including The New Yorker, Wired, Architectural Digest, Vogue, Vanity Fair, and Bon Appétit.

Why did Conde Nast combine the roles of Chief Product Officer and Chief Technology Officer?

Conde Nast combined the roles to have product and engineering tightly coupled as the company became more digital. This structure facilitates faster decision-making and allows products to reach the market more quickly.

What has been the focus of Sanjay Bhakta's tenure at Conde Nast?

During his tenure, Sanjay Bhakta has focused on building reusable components for e-commerce, developing a live streaming platform, investing in data science and AI capabilities, and creating a single global product platform to streamline operations across all brands.

How does Conde Nast approach the development of new digital capabilities for its brands?

Conde Nast aims to build reusable capabilities that can be quickly adapted for different brands with minor aesthetic modifications. This approach avoids building bespoke solutions for individual brands and ensures technology stays consistent across the company.

What is the significance of Conde Nast's technology lab in India?

The technology lab in India is significant as it represents a strategic expansion that has allowed Conde Nast to double its technology workforce in a cost-effective manner. It houses over 500 product, engineering, design, and enterprise tech resources, contributing to the company's global technology efforts.

How does Conde Nast ensure that its digital platforms are accessible to all its brands?

Conde Nast has consolidated all its brands onto a single global product platform, ensuring that any new capability built for one brand is immediately available to all other brands, fostering efficiency and consistency.

What is Conde Nast's stance on using AI-generated content?

Conde Nast has publicly stated that it will not generate content using AI models. It values the originality and creativity of its editorial staff and aims to continue producing high-quality content through human efforts.

How does Sanjay Bhakta view the future of AI in the publishing industry?

Sanjay Bhakta sees potential for AI to assist in idea generation, copy editing, and workflow optimization in the publishing industry. However, he also acknowledges concerns about model collapse and the need for original content to sustain AI models, advocating for a symbiotic relationship between content producers and AI developers.