Long-term effects of your digital footprint
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News of James Dean’s upcoming film will delight fans of classic films and the glamorous Hollywood of the 1950s. Indeed, the reference to the late James Dean, the Hollywood dash who met a horrible end in a 1955 car crash. But new developments in AI have allowed the actor’s resurrection, and he will now star opposite modern performers.
What AI is capable of today is far more than this article only touches on. Due to AI advancements, the entertainment sector is going through a radical transformation. What’s possible has tremendous promise, but it also raises many worries.
After all, if movies with the likenesses of stars have passed away, then what’s to stop you from recreating the likenesses of any famous figure from now using similarly artificial intelligence-generated synthetic media? Therefore, let’s go more into the capabilities of AI and its effects on the entertainment industry, both positively and negatively.
1. Content optimization as an enterprise AI use case
Media creation and licensing are becoming more expensive due to the streaming wars, which also increase the stakes for content creators. In 2019, businesses in the media and entertainment industry spent more than $120 billion on original content. (Of that total, 25% went to Disney-affiliated research, networks, and subscription video-on-demand services).
What is the value of that content? Investing in content isn’t enough to keep streaming giants or their rivals ahead of the competition. Providers must keep an eye on its real-time value and use it constantly to optimize returns.
AI provides the data intelligence needed to assess content, comprehend its potential, and achieve a return on investment (ROI) for content owners. Foxy is a great example of such a platform, allowing users to interact with AI creators and their avatars.
Once content is released, discoverability is enhanced by AI solutions. Artificial intelligence can find and label narrative devices, themes, locales, product placement, and more by making content metadata highly structured and searchable, as opposed to relying on titles or summaries.
2. Developing storyboards
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Using AI to craft impactful and financially rewarding screenplays is a strategic move for filmmakers. Filmmakers can save time and money by using machine learning algorithms to swiftly generate fresh scripts after digesting massive volumes of screenplay data. Artificial intelligence (AI) is useful in screenplay analysis because it can dissect storylines to identify questions, ideas, and ambiguities. As a result, the script review process is made more efficient and quicker.
3. Making movies
Last but certainly not least, artificial intelligence has begun producing independent films. Benjamin AI and Ross Goodwin created the science fiction film “Zone Out” in just 48 hours. This initiative is a huge step forward in automating video production with smart AI technology, even if it doesn’t win any awards.
4. Controlling the methods of distributing content online
AI technologies are incredibly beneficial when it comes to meeting the different legal requirements for material dissemination in different countries. In jurisdictions where different regulatory bodies have jurisdiction, automated content moderation systems can weed out inappropriate or illegal material.
To further protect media and entertainment companies, content providers, and consumers from theft and fake news, these tools can also help identify fraudulent content or copyright violations.
5. Using AI for music composition
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In the realm of music production, AI is making great strides; it can currently evaluate rhythms, and melodies, and even generate ideas for new compositions. Another option is to use an automated mastering service that is powered by AI to process and, perhaps, enhance the sound quality.
To create better tracks, LANDR, an AI-powered music mastering tool, analyzes tonality, dynamics, and frequencies and gives smart suggestions for general development. Tools powered by artificial intelligence (AI) streamline production even further by automating mixing and mastering processes, speeding up high-quality music creation.
6. Video games
Companies are finding it increasingly difficult to attract new consumers as the supply of smartphone games continues to surpass the demand. This has led to the establishing of sizable analytics departments within mobile game corporations.
With a precise estimate of customer lifetime value (CLV), businesses can bid more successfully, giving preference to consumers who are expected to spend a lot of money over customers who don’t utilize the product.
Prospective reports
With a valuation of USD 19.52 billion in 2023, the global AI in media and entertainment market is projected to expand at a CAGR of 26.1% over the forecast period.
If you want to make smart decisions, this market research report is for you. It analyzes the industry thoroughly. It provides an in-depth analysis of several market segments and informs readers on recent trends in the sector. The research study provides pictorial representations such as graphs, tables, and charts to assist readers in readily understanding the key insights and significant data. It also tracks AI in the media and entertainment market using SWOT and Porter’s Five Forces models.
In conclusion
As the entertainment industry faces increasing demands for efficiency and competitiveness, artificial intelligence (AI) will play an increasingly important role. Media and entertainment companies are enhancing their business performance by studying and testing with the aforementioned and other AI-use applications to improve the consumer experience and the quality of entertainment they give.
