How are leading organizations leveraging AI to enhance journalism and drive innovation? In this episode of the CPO Rising Series, Renee Niemi sits down with Alex Hardiman, Chief Product Officer of the New York Times, to discuss the company’s strategic approach to using generative AI. Alex shares insights on how the Times is using AI responsibly to make their journalism more accessible, drive monetization, and boost productivity – all while protecting the human expertise that is core to their mission. She also explores the evolving role of product managers in an AI-powered world, emphasizing the importance of creativity, judgment, and customer-centricity in the face of this transformative technology.
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Show Notes:
- The New York Times’ ambition to be the essential subscription for curious people seeking to understand and engage with the world.
- The impact of the pandemic and economic uncertainty on the acceleration of generative AI adoption.
- The New York Times’ focus on value creation and growth, with a goal of reaching 15 million subscribers by 2027.
- The company’s strategy of creating best-in-class products across news, games, sports, cooking, shopping, and audio.
- The metaphor of news as the “sun” that provides life to the New York Times brand and enables other products to thrive.
- The importance of maintaining a large audience funnel and balancing free access with paid subscriptions.
- The New York Times’ product-driven growth approach, using their own products and channels to acquire, engage, convert, and retain audiences.
- The company’s openness to both organic and inorganic growth, including strategic acquisitions.
- The New York Times’ bundle strategy and cross-promotion efforts to increase retention and revenue.
- The shift from a print-first to a mobile-first product, and the associated cultural transformation within the company.
- The introduction of the subscription model in 2011, challenging industry beliefs and leading to significant subscriber growth.
- The potential of generative AI to enhance journalism by making it more accessible and engaging.
- The New York Times’ responsible approach to using AI, protecting human expertise and intellectual property.
- The importance of human expertise and creativity in journalism. AI is a tool to enhance and support rather than replace.
- The evolving role of product managers, with AI becoming a table stakes competency.
- The practical application of AI to remove rote work and allow product managers to focus on creative and impactful work.
- The excitement around the future of product management, with AI enhancing the craft of making and building.
- The intersection of art and science in product management, with AI serving as an assistant to enhance creativity and problem-solving.
- The importance of human expertise and creativity in product management, with AI supporting and enhancing rather than replacing.
- The overall optimism about the future of product management and the impact of AI.