AI is helping media and entertainment do more with less
ARTIFICIAL INTELLIGENCE (AI) is disrupting many industries, from healthcare to banking, agriculture and many more in between. One other industry this hugely impactful technology is looking to revolutionize is media and entertainment, and many stakeholders in the field are already discovering its true benefits.
From advancements in content production and publishing to the optimization of metadata, a recent report from Ooyala has reviewed a number of exciting ways in which AI will impact the industry.
AI can assist in content creation by improving efficiency and even creativity.
Deciding on creative
Deciding what content is best to create next can be a tough task. Many publishers now use neural network intelligence to decide how best to spend their valuable production budget on. For instance, you may have identified that your comedy content is rolling in the most views. From this, you may feel inclined to produce more of this content.
However, AI can carry out in-depth calculations based on factors such as production and talent costs in order to work out which content will bring you the most ROI.
Automating content generation
According to Associated Press, their journalists have to produce up to eight different text versions of the same story, from summaries to versions meant for print and separate copies for broadcast. The newswire service also reports that its writers spend a total of 800 hours a week making various amendments to copies, which, by any standard is time-consuming and can become an administrative nightmare.
But they are now looking to use AI to automate a bulk of this begrudged workload, allowing the journalists to do what they do best… write.
Lights, camera, AI!
AI is also disrupting Hollywood, with the technology being used to produce trailers. Using AI, a movie’s key plot points are identified and then generated into condensed trailer-friendly versions based on what it already knows about trailers and how audiences are impacted by them.
AI technology can really help you engage your audience.
Many major AI tech investors such as Google and Microsoft are working on AI and translation features. Soon, you’ll be able to create a piece of content in one language, and have it converted to pretty much every major language in an instant.
And just like that, you can globalize your content. For multilingual, regional and international publications, it can mean saving on the cost of hiring translators or even correspondents in different parts of the world.
Handling live events can be a stressful ordeal. If one little thing goes wrong, it can shut down the entire event. On top of this is the difficulty in pinpointing issues which are often fragmented across different sections of the event chain.
Through an AI program overlooking every aspect of your live event, any issue can be identified and dealt with- even before they even happen.
Every social platform is different, so your strategy should be tailored to suit each one accordingly. Many publishers are guilty of pushing the same content on every platform, which is an ineffective method of appealing to consumers. The content preference of a Twitter audience may not work for a YouTube user.
Though posting different types of content across different platforms can be incredibly time-consuming, some basic AI along with a good media logistics platform can allow this to be simplified and automated.
With one single video clip, it is possible to cut it up and optimize different parts for your social strategy. For instance, you may use the bloopers from the clip to upload to your Facebook, but use a trailer clip to post to your YouTube channel.
We’ve discussed how AI can simplify processes within the media and entertainment industry in order to save costs, but how is it actually making money?
Though ads can often be perceived as a hindrance, through the use of AI dealing with mountains of data about ourselves, we are hit with advertisements that are personalized to our preferences, be it the latest Audi or the pair of shoes you viewed on a website last week.
Dynamic content marketing
Following from personalized ads comes even more advanced ad targeting. Imagine this same personalization of ads is present when you’re watching a TV show. You’re watching your favourite serial and you see a bus in the background with an iPhone ad on it. But your friend, watching the same show and the same scene, sees a bus with a completely different ad. AI technology is being developed to identify various points within content in which native advertising can be placed. With this technology across all content, artificial intelligence has opened up an impressive advertising platform where powerful targeting can occur.
It’s exciting times for the media and entertainment industry, with advancements in AI technology bringing increased efficiencies and streamlined workflows.
Yet, with such widely impactful technology comes scepticism from many. The fear of computers taking over many decisions that once heavily relied on human interference is something not welcomed by many.
But with that said, AI is set to hugely improve the way in which we produce and consume media entertainment.