So, those were some amazing benefits of implementing AI in entertainment. It also facilitates creation of VR sports events, fantasy leagues, and proactive engagement of viewers resulting in predictive merchandise options for the organizers. All these are areas in which AI-enabled systems excel. The media and all its sub-verticals are seeing a resurgence in growth, thanks to valuable insights and solutions enabled by AI and automation. Artificial intelligence. online video) content that it can be difficult to tag, recommend and monetise. Yes, that true! The digital transformation has brought many changes to the entertainment industry. Entertainment, dining and shopping on board. Undeniably, by using AI in the media and entertainment industry, we will have a fascinating future in all spheres for sure! As it's doing in many other industries, artificial intelligence is making a splash. That means you can today find the exact thing you want in seconds. Another incredible example is Iris TV, which offers the most suitable user preference based on their past choices. Entertainment . Instead, real-time prediction based on current trends and behaviors from all data sources is key. The AI platform business started offering commercial solutions in April 2015 in the media and entertainment sector. The digital transformation has brought many changes to the entertainment industry. As user experience personalization becomes more important for the industry, companies are using AI to create personalized services for billions of customers. It is no doubt today that personalization has become the key to success in today’s competitive era, and the entertainment industry is no exception! We offer our clients a reduced time to market, critical industry insights, testing coverage, and robust testing of applications. By Media Entertainment Tech Outlook | Monday, November 04, 2019 . AI for Predictive Maintenance. Can AI and machine learning transform the entertainment industry? It's no wonder given the benefits AI can bring to the actual businesses. The rising adoption of digital in entertainment has been transforming how media companies around the world operate and advertise to reach their audience. AI-based technologies are already making a profound impact on our consumer lives. Entertainment industry in the future will leverage AI. But this is a recent development, says Ryan McCabe, Senior Data Scientist at Spotify. The entertainment industry goes on flourishing, and AI has provided its input into it. The media and entertainment industry is at the cusp of rapid transformation with digital media taking center stage across all sub-sectors - TV, print, films, advertising, animation & VFX, gaming, OOH, radio and music. Movie production involves multiple procedures such as screenwriting, script-breakdown, location scouting, storyboarding, generating shot-lists, budgeting, scheduling, recording, and editing. Founded in 2011, this New York-based company has made a notable impact in the entertainment industry using artificial intelligence. FREMONT, CA: Technology has always been affecting the entertainment industry. report, virtual reality (VR) is predicted to be the fastest-growing segment in the entertainment sector. Many AI-based solutions are already being used in the tourism sector and others are being developed. Artificial intelligence has always been a part of pop culture due to numerous sci-fi movies like Avengers: Age of Ultron, The Terminator, and I, Robot. In fact, the new and advanced chatbots in the media and entertainment industry can even understand user behavior and could offer them recommendations based on their interactions with your brand. Proliferation in the use of sensors and hardware will witness virtual reality, haptics and companion robots increasingly enter the home. 6 Steps For Implementing AI In Your Business. AI Sector Overviews; AI Market Research; Partner Content; Emerj Team Updates; AI Articles and Analysis in Entertainment. Without AI, the online ad industry will just fail as it would show random ads to users with no connection to their preferences what so ever. Deloitte’s Kevin Westcott joins host Hanish Patel to share his insights on what’s ahead for the telecommunications media & entertainment industry. Simple, with the use of AI in entertainment! Machine learning is an underexplored area in the TV industry For many years, effective voice-based search technologies have eluded businesses that have tried to bring next-generation input methods to customers. That’s where Artificial intelligence comes to play! According to PwC’s Entertainment & Media Outlook, the US entertainment and media industry is projected to reach $759 billion by 2021, increasing at a CAGR of 3.6 percent. Not only that but by introducing more & more innovations, the businesses can enhance the user experience to a great level. An advanced AI algorithm offers far better speed and reliability at a much lower cost as compared to its human counterparts. In addition to music and books, Qloo also provides AI services to the movie industry. So, it makes sense for such a growing industry to use technology as groundbreaking as Artificial Intelligence. The use of AI in the media and entertainment industry is helping the media companies to improve their services and enhance the customer experience. Also, the direct economic impact of the tourism industry, including accommodation, transportation, entertainment and attractions, amounted up to approximately 2.3 trillion U.S. dollars that year. 5. Ashutosh Verma, Senior Practice Manager – AI Practice and Thought Leadership. All sectors have been affected by the coronavirus outbreak and its associated lockdowns to varying degrees. Data is now considered one of the key elements (if not the most important) in media companies’ future strategy. Consumer goods. The rise of AI in entertainment is not something new; instead, it has become the most talked-about thing amongst businesses and marketers. AI is playing a major role in improving the efficiency of processes involved in the entertainment world. The AI-based AR/VR kiosks at malls, airports and other prominent places are drawing customers to ‘feel’ the products and services. Today, there are enormous materials online on a particular topic, that it’s even hard to find reliable ones. Artificial Intelligence is being proactively introduced and implemented … “. The report further claims that nearly 68 million VR headsets will be used in the US within the next three years while increasing the VR market growth to almost $5 bn. The rapid surge in digital consumption is forcing the media industry to relook their business models[i]. People are embracing technology that will make VR an essential aspect of the entertainment sector. How AI is Transforming the Media & Entertainment Industry - Wipro The media and entertainment industry is at the cusp of rapid transformation with digital media taking center stage across all sub-sectors - TV, print, films, advertising, animation & VFX, gaming, OOH, radio and music. At IBC2017, AI was for the first time one of the main themes, both at the exhibition and in the conference sessions. With new technologies such as virtual reality and multi-channel experiences, new possibilities arise almost by the second. The promotion of events and movies is, to date, one of the most critical aspects of the media and entertainment industry. As per the latest source, live streaming videos have taken up a considerable share of the media and entertainment industry and are predicted to account, for 82 percent of all internet traffic by 2022. . “AI will influence all parts of the media value chain, helping content creators to be more creative, helping content editors to be more productive, and helping content consumers to find the content that matches their interests and current situation,” explains Rainer Kellerhals, Microsoft’s Media and Entertainment industry lead for the EMEA region. This point was confirmed repeatedly during Veritone’s second quarter 2018 earnings call last week. Philosophy of AI: With the rise of computers, the process of doing manual work has been decreased to a great extent. Today, the industry is almost entirely dematerialized, while storytellers and storytelling mediums explode in number. AI provides predictive analysis (pitch report, weather report, team report, crowd report) to organizers. The 360° view of the live event is captured and enhanced using AI techniques to give viewers the feel of the “live” event. Here’s how AI will transform the entertainment industry in the coming future. Benefits of Leveraging Artificial Intelligence in the Media and Entertainment Sector. The entertainment industry is growing at a phenomenal rate. Development of VR content for live events, reality shows, food shows based on AI garners more eyeballs. Retail/marketing and AI is a combination on a rapid growth curve in the AI sector. Wall Street's entertainment sector analysts also have gone into the new year with a cautious forecast for deal making. Discover new destinations and more with our partners. Quantzig has announced the completion of their new article on how artificial intelligence is disrupting the media and entertainment sector. And this is just the beginning. Paralyzed people can walk again and do not depend on caretakers thanks to exoskeleton robots. When it comes to the future of AI in Media and Entertainment, the experts agree: it’ This May 2-3, 2019 in Redwood City, leading experts from AI, entertainment and technology companies such as Walt Disney World, Digital Domain, Microsoft, Intel, Accenture, and … Cognitive technologies (AI, ML and NLP) facilitate turning insignificant, unstructured piece of user information into structured, correlated and meaningful data putting them into multiple categorized databases for the advantage of the companies providing unique insights for better customer engagements, improved and attractive targeted content and higher monetization. With machines and algorithms constantly evolving, AI is growing stronger in taking up tasks that are far too complex. Olga Egorsheva, Co-Founder and CEO of Lobster discusses how social media platforms are utilizing AI and how marketers can use this to their advantage. From the type of content that is created to how and by whom it is created and consumed – this shift has allowed innovative disruptors to join the party and compete with traditional outlets. Enters AI in entertainment! AI is transforming the media and entertainment space and is increasingly playing a big role in improving efficiencies and contributing to growth therein. Due to the Covid -19 pandemic, this facility or feature may or may not be available till further notice. With over 3.2 million movies, directors, and actors in its database, Qloo has built millions of movie viewer profiles. Video streaming, 5G, and AR/VR to gain ground in 2020. AI helps augment human abilities and support mental health. Hence, by using artificial intelligence techniques with AR/VR, media companies can do miracles and produce breathtaking scenes for their users. The financial sector heavily relies on real-time reporting, accuracy, and processing of large volumes of quantitative data to make crucial decisions. How AI is Transforming the Media & Entertainment Industry. Yet there is now so much existing and newly generated (e.g. In 2018, AI upended the entertainment sector with breakthroughs across gaming, films, music and arts. But, what if artificial intelligence can be used in producing a movie? Today, AI looks capable of fulfilling the promises set in the past. Media rights is the fastest-growing sub-sector of the US eSports market, rising at a 17.5% CAGR, though still trailing sponsorship revenues growing at a 11.7% CAGR. AI helps develop AR/VR interactive content based on the storyline and themes for content, gaming and events. With over two decades of experience in building business solutions across multiple industry verticals including over ten years hands-on experience in driving business transformation, Ashutosh specializes in shaping new offerings and driving business outcomes across multiple verticals including Telecom, Banking, Media and Education. “M achine learning has moved past the high-school sex phase (everyone talking about it, but no one doing it), All you need is to hire perfect AI developers for your chatbot development, and you are ready to go! The media industry is centered around the customer as the customer has become more powerful than ever before. Real-time streaming is useful for the broadcaster/transmitter and the customer. As per the latest source, live streaming videos have taken up a considerable share of the media and entertainment industry and are predicted to account for 82 percent of all internet traffic by 2022. It also facilitates improved Ad sales through targeted ad insertions. The report further claims that nearly 68 million VR headsets will be used in the US within the next three years while increasing the VR market growth to almost $5 bn. Novel technologies such as AI and blockchain are on the verge of revolutionizing the entertainment industry with the new norms in the industry. Artificial Intelligence promises to play a critical role in the streaming industry by providing efficient ways to encode, distribute, and organize data. Analytics of viral media content can be used to determine the preferred content by audiences. Witnessing all such great advancements, one thing could be surely said that the day is not so far when watching movies and sports with real effects will not just be a dream but will happen in the future for sure! Predictive analysis which facilitates right viewing content, based on audience preferences, and identifies best content with maximum earning potential. Think no more! AI offers more efficient options for classification and archiving of this huge vault of assets, paving the way for more precise targeting and increased revenue generation. These procedures are carried out by collaborating with many film industry professionals. Media houses rely on advance analytics using various parameters from the customer data like demographics, current trends, market scenarios etc. A common example of AI in entertainment using VR is in the development of virtual content for reality shows and live events. AI enhances personalized shopping experience. This will continue in 2020 where media companies will continue working alongside AIs for personalized content recommendations and effective advertisements. There is a dire need for adding personalization and delivering value to meet the rising customer expectations and demand. Alibaba Luban, a popular AI tool, is a perfect example of this AI use case that can fasten the marketing process and can produce nearly 8000 promotional banners in a second – an impossible task for humans. Finally, it is worth noting how entertainment companies have harnessed AI processes … Digital transformation is pushing businesses to be customer-centric and today, consumer AI in e-commerce, retail, mobile, social and other areas is largely focused on driving a better customer experience. Last but not least is real-time streaming. We already have personalised content recommendation within the entertainment sector. Today, many of the leading entertainment and media houses use custom AI applications to simplify the designing and promotion process of the movies. How it's using AI in automotive: Beginning as Google’s exploration of self-driving vehicles, Waymo is now it’s own company creating driverless vehicles that can safely deliver people from points A to B. Advanced analytics capabilities are critical in altering content, marketing plans, offerings and distribution windows. AI is playing a major role in improving the efficiency of processes involved in the entertainment world. AI makes gaming more intelligent Applied to human services programs, these technologies could help reduce backlogs, cut costs, overcome resource constraints, free caseworkers to spend more time with clients, inject greater intelligence into scores of processes and systems, and handle many other tasks that humans can’t easily do on their own. The use of AI will make the industry more interactive, personalized, engaging in the future. Take the search results, for instance. Search by image and videos are some of the applications of such a trend. Code Share Partners. Clearly, AI in entertainment has opened the doors for many new opportunities! Israeli automotive computer vision startup eyeSight uses AI and deep learning to offer an absolute plethora of in-car automotive solutions. How Is AI Transforming The Entertainment Industry? That’s where AI applications come to play! The economic and business models requiring to succeed in the digital landscape are challenging and require a significant shift in the mindset and approach due to the fierce nature of competition and a dynamic market place. This union of the human with AI is a brilliant stroke – expect many more startups … Maybe, that’s a good reason to implement an AI-based solution in your media business! One of the most transformative tech solutions in the past few years, AI has been used in numerous ways to improve customer experience and streamline business operations. Representative Applied AI use cases of HOLMES with ecosystem, Business resilience with Wipro HOLMES™ solutions for pandemic assistance, Live 360° video streaming with AR enhanced & enriched user experience, Personalized experience of live events anywhere using mobile screen and 360° videos, Enriching advertisements and engaging users for personalized VR e-commerce, Connecting with users and running campaigns using user information, Gamification and VR Interaction which provides better merchandise options with products and services, Augmenting experience with map-based services and real-time triggers’ notifications to users, Instant assistance and quick response by the use of chatbots, Insights into user information, social media behavior and usage pattern with the help of Predictive analytics for better segmentation and targeting, Engaging customers with Royalty and Loyalty Programs for increased referrals, Capturing and engaging customers on trigger-based live events, KBC-style, ball to ball, pitch, weather predictions for cricket events. AI and machine learning will be a core part of all educational experiences. So, what to expect from AI in enhancing the future of the media and entertainment industry? Quality work is delivered by making use of our unique library of thousands of test scenarios and test cases. Expanding on observations from the TM&E Industry Outlook 2020, Westcott predicts that the growth of video streaming will continue to explode and competition among providers will increase. Many experts across sectors, such as game development, movie production, advertising, and also providers of a variety of entertainment services, agree on AI unleashing an entirely new approach to creativity. Smart algorithms will be able to come up with … In Media and Entertainment, t h ere are already many applications of Machine Learning and AI hiding in plain sight. At Quantzig, we understand the challenges faced by media service providers amid the crisis. … Deep learning deals with unstructured data, making it ideal for image, video, speech, and text analytics. Patients can be assisted not only by medical staff but also by robots. 675 North First Street, Suite 1240, San Jose, CA 95112, 2301 Blake Street, Suite 247, Denver, CO 80205, K-22A, Malviya Marg, C-Scheme, Jaipur, Rajasthan 302001, 6th Chopasni Road, Jodhpur, Rajasthan 342003. and incorporate the AI-based content improvements with dynamic ad insertions into their offerings to enhance the contextualization customer experience through trigger, context, intention, and insight enriching customer experience through AI. Customer analytics is driving the transformation of customer data into advance analytical insights, which help in designing customer-focused programs, and initiatives that drive customer retention, new acquisition, cross-selling/upselling, and targeted marketing campaigns. Though Veritone has since expanded to other verticals, its net revenues from the AI platform business are still primarily from the media sector. › Media and Entertainment sector in the era of COVID-19. Now that computers are used almost in every sector, humans are highly dependent on them. With the exponential growth in AI applications across the media and entertainment industry, here are all the things we would be able to see in the coming years! Globally, organizations are acknowledging that customer is indeed king and cannot be ignored. Consequently, AI in entertainment improves user experience and enriches ad sales through targeted strategy. With the content consumption in media and entertainment sectors constantly evolving, the sector is becoming all the more competitive and complex – while seeking ways to intelligently bring down the operation cost and maximize the outputs. The entertainment industry is expected to transform in a bit different manner. As we are totally surrounded by machines and computer systems, this gave humans a general thought like “Can a machine think and behave as humans do? AI helps in real-time customisation, packaging and transmission of content, enriching the viewers’ experience. So, those were some amazing benefits of implementing AI in entertainment. December 11, 2017 – Computers don’t cry during sad stories, but they can tell when we will. Using advanced Time-of-Flight (TOF) cameras and IR sensors, eyeSight’s AI software detects driver behavior in four key areas. As per the research, the spending on artificial intelligence in the entertainment industry is expected to reach US$1.86 by 2025. How AI and Blockchain are Revivifying the Entertainment Sector. Employment in the era of AI. But how do they do that? Today, with AI-based algorithms, many of the leading platforms have enhanced their search results capabilities. You need to apply some filters, and you are ready to fo. Entertainment and Media AI Applications Overview. By the end of 2018, 2.5-billion people are expected to have at least one social account. With advanced machine learning algorithms and deep learning networks, the smart AI tools first learn from the user’s choices and then suggest the most suitable kind of videos that they are interested in. 11 Applications of Artificial Intelligence in Business: Artificial intelligence today is not just a theory. From the type of content that is created to how and by whom it is created and consumed – this shift has allowed innovative disruptors to join the party and compete with traditional outlets. React Native App Development: All you need to know about React Native Development, Top reasons to use Salesforce Mobile App Development in 2021, How to Combat High Employee Attrition Rates — An HR’s Perspective, Top Reasons to use Salesforce Marketing Cloud in 2021, 5 Ways AI Is Transforming The Manufacturing Industry. AI Is About to Completely Change the Face of Entertainment Twenty years ago, entertainment was dominated by a handful of producers and monolithic broadcasters, a near-impossible market to break into. In today’s world, owning a social media account is as almost as common as having a National Insurance number. From composing beautiful compositions to automating repetitive tasks and even offering VR and AR capabilities in the movies, AI in entertainment has brought many drastic changes in the media and entertainment industry. The advent of AI in media and entertainment will help uncover innovative ways of creating and sharing content. AI in Entertainment will be used for such marketing aspects as design, film promotion and advertising. And machine learning and AI hiding in plain sight which content drives earnings increasingly playing a major role the. Do not depend on caretakers thanks to exoskeleton robots when we will have a fascinating future in all spheres sure! 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