Warner Bros. will use AI to determine which film to give a thumbs-up
ENTERTAINMENT giant Warner Bros has just announced that it will use artificial intelligence (AI) to predict a film’s success.
Based on the huge data sets that are being fed into the company daily, AI and predictive analytics can show different trends and patterns that would otherwise not be visible to humans.
Details such as the popularity of a celebrity in a particular region, and how much a film is projected to make in theaters and on other ancillary streams are now at the fingertips of key decision-makers of the company.
Based on real-world data, they can make an accurate selection for movies that will be heading into the production pipeline, and also develop more targeted marketing strategies.
This saves the company time and money, as it helps ensure that future investments will only be made on movies that have the best prospects.
This is not the first time AI has been leveraged in the film business. In the past, AI has helped predict a movie’s success just through an analysis of its script, and forecast revenues months before launch.
AI is not only changing the face of the film industry, but many other industries as well.
For example, the manufacturing industry utilizes AI and Machine Learning (ML) to automate various labor-intensive, repetitive processes.
In the e-commerce industry, AI can enhance the customer experience. Virtual assistants can be deployed to aid customers almost instantaneously, and also provide personalized recommendations based on a consumer’s past activity.
In this age of constant disruption, leaders must look to embracing technology in all facets of their business.
Digitization is the only way forward, and companies have to transform digitally to survive the current business landscape.
It is not easy, and must trickle down from the top: top-tier management must fully be in the know of the needs and the ‘hows’ of transformation before implementing anything.
With the widespread use of technology such as AI, regulatory bodies must step up, putting safeguards in place to ensure that these technologies are not exploited in harmful ways.
China, for example, recently just emphasized the need for AI in financial services to be regulated and incorporated into the country’s 14th five-year development plan.
With the right tools, technology can definitely help a business understand its customers better, enhancing business performance.
Warner Bros. Senior VP of Distribution Toni Kiis recognizes this.
“We make tough decisions every day that affect what — and how — we produce and deliver films to theaters around the world, and the more precise our data and technology is, the better we will be able to engage our audiences.”
AI has done much for many industries, and this is only the beginning of what it can do for films. At the rate technology is evolving, we can be sure to see more of how it will be used to change the face of businesses in the coming months.
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