A couple of years ago, the company also managed to raise funds of $2.25 million from T&B Media Global. Machines don’t require frequent breaks and refreshments as like human beings. By clicking any link on this page you are giving your consent for us to set cookies. This year, as per the contract signed between Warner Bros and Cinelytic, the movie studio will be using Cinelytic’s AI-driven project management system, in order to effectively plan budgets for its films. Impact of AI in Entertainment Industry – The Advantages of AI. It holds repositories in multiple languages and can show a selection from various styles if the customer is multi-lingual. But for creative decision-making, you still need experience and gut instinct.”, Know the Reasons to Adopt Artificial Intelligence in Businesses, With the amalgamation of Warner Bros with Cinelytic, analyzing data in order to make informed decisions while planning the budget of a film is no longer a daunting task. Final Takeaway! But on the brighter side and with advancements in deep learning and cognitive AI, and rich media chat platforms, perceptive bots capable of picking up context cues and learning from conversation can now help the customers figure out what to watch. Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Media & Entertainment Tech Outlook, By Media Entertainment Tech Outlook | Friday, June 19, 2020. 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 As per Statista , the travel and tourism industry is one of the world’s largest industries with a global economic contribution of over 7.6 trillion U.S. dollars in 2016. Artificial intelligence makes fewer errors. Cinelytic has been working on developing a beta testing platform for the past four years. But right now, an AI cannot make any creative decision.” He further went on to say that “What it is good at is crunching numbers and breaking down huge data sets and showing patterns that would not be visible to humans. A couple of years ago, the company also managed to raise funds of $2.25 million from T&B Media Global. According to driverknowledge.com, the average number of car accidents in the U.S. every year is 6 million, more than 90 people die in car accidents everyday. In the year 2019,  STX along with Playmobil and Ugiydolls came on-board. Necessary cookies are absolutely essential for the website to function properly. “some believe that there are still a lot of things that AI is of no use to. However, even with so much happening around, Hollywood considers itself to be operating on Gut and Instincts, and not algorithms. Types, uses and importance of Robots in the Workplace. However, the misconception was addressed by Queisser. Now that we know, what is the impact of ai in entertainment industry, The only way to find out if AI will take over humans within this sector is to wait, and watch! The company is so focussed that it has managed to grab high-flying clients. “Artificial intelligence in film making sounds scary. With this piece of news hovering over the entire film industry, there is a notion that artificial intelligence will eventually end the era of humans and take over the film industry. Chatbots are omnipresent – in banking, online shopping, and food delivery, but their presence is not registered to the user. 24/7 Availability. Your email address will not be published. Artificial Intelligence promises to play a critical role in the streaming industry by providing efficient ways to encode, distribute, and organize data. AI doesn’t get tired and wear out easily. Strong AI is still a theory, like science fiction, but already controversial in its moral values. How Tech Entrepreneurs are Reducing their Payroll Costs? However, as per  Queisser, some believe that there are still a lot of things that AI is of no use to. The advantages of AI-driven medical tools are invaluable and beneficial for doctors, and patients, and are applicable in different healthcare areas. Streaming platforms have to optimize their search algorithms to help users find relevant content. An accurate programmed AI can provide amazing precision, accuracy, and speed while completing a given task. Online streaming platforms have countless movies, TV shows, and songs. is not a challenge, but an investment. More info. What are the advantages of AI? Ever since IBM Watson used Artificial Intelligence (AI) to create a dramatic movie trailer for the film Morgan, the film-making industry hasn’t been the same.With dozens of companies competing with artificial intelligence platforms today, it is not surprising some are exploring the entertainment industry. 75% of healthcare organizations will have invested in their AI potential by 2021 to improve the overall performance. Artificial intelligence slowly and gradually is making its mark within various industries. But for creative decision-making, you still need experience and gut instinct.”. NAZIR HUSSAIN answered. There are multiple advantages of AI. Artificial Intelligence and the science of robotics is used in … Humanoid robots uses, risks, advantages and disadvantages. This is a clear hint showcasing that the phenomenal technology of Artificial intelligence in film making is going to change a lot of things in the future. Warner Bros is the first-ever studio to integrate artificial intelligence within their film management system. By Media Entertainment Tech Outlook | Friday, June 19, 2020 . AI will be able to target a certain string of keywords and this will cut … As per the details of this new deal, Warner Bros will make use of the new system’s comprehensive data and analysis, in order to guide decision making at the early stages. Ex: “AI can never make creative decisions.”. Personalization. With advancements in natural language processing (NLP), machine learning, and advanced text-to-speech, the customers can establish a conversation so naturally that there is no need for human agents. Using the advent of Artificial intelligence in film making, Cinelytic can effectively evaluate the value of the actor, the kind of money the actor can make for the fil in the box-office. It is mandatory to procure user consent prior to running these cookies on your website. In the year 2019,  STX along with Playmobil and Ugiydolls came on-board. Artificial Intelligence plays an important in transforming organizations across sectors. For instance, AI systems can identify and analyze different objects in various scenes of a movie and details about its genre, cast, and crew to … It is specifically of great use when it comes to a festival setting. , Cinelytic can effectively evaluate the value of the actor, the kind of money the actor can make for the fil in the box-office. Mine your CRM tools for rich customer insights. Learn more about the importance of AI and understand how to implement AI/ML in your organization. So, those were some amazing benefits of implementing AI in entertainment. According to Hollywood Reporter, Warner Bros has joined hands with Cinelytic in order to use their project management system, incepted in the year 2019. This is mainly because of the fear that it will take away jobs making humans obsolete. After all, the industry generates over $700 billion in revenues annually. As per reports, the AI-based platform won’t necessarily predict the gross revenue a movie would generate, but then, it will essentially reduce the time taken for monotonous work, giving executives a better dollar figure for packaging, distribution, and marketing of the film. “What it is good at is crunching numbers and breaking down huge data sets and showing patterns that would not be visible to humans. Australia is seeing an increased use of artificial intelligence. AI and its Benefits in Media and Entertainment. How to Increase App Engagement And User Retention? Artificial intelligence has already revolutionized numerous industries, including healthcare. Required fields are marked *. In one of the reports, Queisser stated that “, The system can calculate in seconds what used to take days to assess by a human when it comes to general film package evaluation or a star’s worth.”, Moreover, the Senior Distribution VP, Tonis Kiis stated: “, 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 is, the better we will be able to engage our audiences, However, the misconception was addressed by Queisser. Also, for obvious reasons, Hollywood has adopted AI much later in Silicon Valley. In 2020, the Advantages of AI are many! Let us look at pros and cons You also have the option to opt-out of these cookies. The advantages of Artificial intelligence applications are enormous and can revolutionize any professional sector. With them, the customer service costs can significantly be reduced, which will allow the owners to invest more money in other aspects — expanding the range of … With this piece of news hovering over the entire film industry, there is a notion that artificial intelligence will eventually end the era of humans and take over the film industry. How To Hire Dedicated Software Development Team For Your Business. Warner Bros is the first-ever studio to integrate artificial intelligence within their film management system. Artificial intelligence slowly and gradually is making its mark within various industries. A lot has and is going wrong as a result of human error. Additionally, media companies can leverage artificial intelligence to automate operations and drive decision-making. Another industry that’s leveraging the transformational benefits of AI is the tourism industry. The advantage of entertainment is to make people feel relaxed and happy, while the disadvantage of it is to steer people away from the study and work. Artificial intelligence AI has a huge impact on many of the fields and some of them are mentioned below, Gaming : It plays an important role in strategic games like chess, tic tac toe etc. In the same year, Cinelytic also signed contracts with Ingenious Media and Productivity Media. Social Media Feeds. A successful company needs great ideas and…, © Resourcifi Inc. 2019 powered by Well, keeping apart everything else,…, Every successful business has a few magic beans. Save my name, email, and website in this browser for the next time I comment. But right now, an AI cannot make any creative decision. Content Misinterpretation. People like using them and businesses love extending their services/products through…, Did you know the motivation behind Jan Koum creating WhatsApp? How to Make A Messaging App Like WhatsApp? All things considered, AI and chatbots have a huge potential in the entertainment industry. Artificial intelligence helps deal with time-consuming and daunting tasks, such as credit scoring, performing background checks, analyzing documentation and drafting conclusions, etc. Generally, Human error is the simple definition of the inaccuracy and inefficiency of humans. The use of AI in the gaming industry is leading to games with more realistic animations that mimic the natural ways that humans move about. With unprecedented access to content in television and streaming services, ‘what to watch’ has become a common problem. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Thus, gaming is among the most common examples of the advantages of artificial intelligence. FREMONT, CA: Conversational AI has effortlessly changed the course of the game for customer service and what companies can gain with digital interfaces. It can show recommendations and suggestions based on past choices, switch languages on preference. The company is so focussed that it has managed to grab high-flying clients. But opting out of some of these cookies may have an effect on your browsing experience. Cinelytic has been working on developing a beta testing platform for the past four years. He said “Artificial intelligence in film making sounds scary. Using the information already stored in AI and the use of algorithms, the decision will be easily made. With the amalgamation of Warner Bros with Cinelytic, analyzing data in order to make informed decisions while planning the budget of a film is no longer a daunting task. I want you to remember the last time you opened a mobile app and went…, Mobile apps are great. The times when artificial intelligence (AI) was associated with humanoid Asimov-type robots are over; starting from healthcare to shopping, AI is everywhere. Let’s see some of them 1) Reduction in Human Error: The phrase “ human error ” was born because humans make mistakes from time to time. is going to change a lot of things in the future. Interact with humans for entertainment or a task as avatars or robots. These cookies will be stored in your browser only with your consent. … Ex: “, what is the impact of ai in entertainment industry. The advantages of AI also include acquiring a competitive edge in the global market. While the algorithms of streaming giants are always evolving, they are rather blinkered. With AI integrating with various sectors, so quickly, it is safe to say that AI is here to stay! For this purpose, AI can analyze objects and data about a specific type of content to include it in a particular category. to becoming a real, practical technology that digital marketers can actually use.. AI vs. data analytics. Robots types, advantages, uses, features & models (Humanoid, Military, Industrial, Nano-robots) Artificial intelligence (AI) definition, advantages, disadvantages, features & applications. People have diverse preferences and varying moods, and they don’t always want to consume the same kind of content and the same genre or the same content creators. New technologies like virtual reality are pushing the boundaries of world-building and immersive gaming experiences. This website uses cookies to improve your experience while you navigate through the website. Here are some of the benefits of AI in our educational systems. Helping in Repetitive Jobs. Healthcare/medicine, education, and marketing are just a few Today, to. Even though Warner Bros may have their own set of rules that they follow in order to streamline their business, Cinelytic is expected as one of the key influencers and is expected to play a major role in producing movies with a mid-level budget. Using the advent of. Out of so many studios across continents, Warner Bros is the first-ever, to facilitate the impact of AI in entertainment industry. Primarily in times when studios are occupied in bidding wars, and end up plunking down on the value after just a couple of hours of assessment. With over 2.5 billion users expected to have at least one social media channel by the end of 2018, marketers are increasingly combining these platforms with emerging technologies to reach their growing audiences. They rely on the history of what people have consumed – on their past watches. Entertainment is very helpful keep away your mind from stress...every people have different types of entertainments where they can grab happiness, peace of his mind for his mind and health … He said. 3. See Also: Top Media and Entertainment Technology Consulting/Services Companies in APAC, Copyright © 2021 mediaentertainmenttechoutlook.com All rights reserved, I agree We use cookies on this website to enhance your user experience. Generating business by virtual customer support arrangement and Understandings of the business niceties from cutting-edge analytics solutions are just a few advantages of AI. Many businesses take up artificial intelligence (AI) technology to try to reduce operational costs, increase efficiency, grow revenue and improve customer experience.. For greatest benefits, businesses should look at putting the full range of smart technologies - including machine learning, natural language processing and more - into their processes and products. In the same year, Cinelytic also signed contracts with Ingenious Media and Productivity Media. AI can be increasingly helpful in optimizing search algorithms for streaming platforms. impact of AI in entertainment industry will have the ability to assess various parameters like star value in the region and expected film revenue. Artificial intelligence researchers want to bring in emotional quotient to the machines along with the general intelligence. A detailed review of AI advantages and disadvantages will shed light on the key factors that will lead you to a better outcome for your business. While science fiction often portrays AI as robots with human-like characteristics, AI can encompass anything from Googles search algorithms to IBMs Watson to autonomous weapons. In one of the reports, Queisser stated that “The system can calculate in seconds what used to take days to assess by a human when it comes to general film package evaluation or a star’s worth.”, Moreover, the Senior Distribution VP, Tonis Kiis stated: “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 is, the better we will be able to engage our audiences.”. It can grow with feedback, picking up vocabulary and understanding a more significant number of requests daily, making and storing new connections, and continuously analyzing trends and conversation flows. We also use third-party cookies that help us analyze and understand how you use this website. The report further suggests that Cinelytic’s AI bases system may have made alterations in some of Warner films from the year 2019, such as The Kitchen, Shaft, and Godzilla: King of the Monsters. Today, there are a lot of companies that are working towards catering to similar tasks, however, the majority of studios still believe in the old traditional gut and instinct. With the advent of this emerging technology,  you can now effectively save time and money by automating the usual routine tasks. The advent of AI has a lot in store for you this year. However, if you would like to share the information in this article, you may use the link below: www.mediaentertainmenttechoutlook.com/news/ai-and-its-benefits-in-media-and-entertainment-nwid-624.html, Top Media and Entertainment Technology Consulting/Services Companies in APAC. Saves Time. Read more – Is Artificial Intelligence a Blessing or a Curse? Software companies can soon develop a friendly, intelligent bot with the sophistication and adaptability to assist in narrowing down the broad preferences. Artificial intelligence and machine learning have fueled technological innovations in marketing, eCommerce, and several other industries. From SIRI to self-driving cars, artificial intelligence (AI) is progressing rapidly. , The only way to find out if AI will take over humans within this sector is to wait, and watch! AI is an intellectual behaviour that can be implemented in machines on a human level. What is the Impact of AI in Entertainment Industry? As per reports, the AI-based platform won’t necessarily predict the gross revenue a movie would generate, but then, it will essentially reduce the time taken for monotonous work, giving executives a better dollar figure for packaging, distribution, and marketing of the film. In our day-to-day work, we will be performing many repetitive works like … These cookies do not store any personal information. While buyer personas are an open window to the … impact of AI in entertainment industry will have the ability to assess various parameters like star value in the region and expected film revenue. AI is playing a major role in improving the efficiency of processes involved in the entertainment world. Main Advantages of AI. What’s interesting is that the company is only a couple of years old. Healthcare/medicine, education, and marketing are just a few Today, to hire AI developer is not a challenge, but an investment. An example of this is AI for playing many videogames. Here are some of the main advantages of artificial intelligence that prove why it is so important to continue focusing on its development: 1. Furthermore, the bot is capable of much more. This is a clear hint showcasing that the phenomenal technology of. The t… Anonymous answered. If you are thinking that smart cars don’t personally effect you as they are still … Not just the film industry, the advent of AI has successfully taken over a lot of industries. Cinelytic has been working on developing a beta testing platform for the past four years. Top Software, IT Outsourcing Company in India- Resourcifi, , Warner Bros has joined hands with Cinelytic in order to use their project management system, incepted in the year 2019. Many people experience the benefits of AI and ML systems without even knowing it every time they search on Google or click on a song in Spotify. This is the foremost among the advantages of Artificial Intelligence. RNF Technologies. Get introduced to some interesting use cases and core technologies of AI and ML across industries. Is Artificial Intelligence a Blessing or a Curse? In fact, you can think of AI as just a superior form of data analytics or social media metrics that you already use. … What’s interesting is that the company is only a couple of years old. In this article, we have highlighted a few benefits of artificial intelligence in the media and entertainment industry that can help companies to gather data at scale and improve the consumer experience. Tweet. Read more – Know the Reasons to Adopt Artificial Intelligence in Businesses. However, as per  Queisser. This category only includes cookies that ensures basic functionalities and security features of the website. This time is very exciting for AI in the media and entertainment space. Algorithms can … Resourcifi.com serves cookies to enhance user experience. The really exciting part about artificial intelligence (AI) is that it is finally moving from being just some kind of fantastic sci-fi premise (super-intelligent robots!) Star value in the region and expected film revenue only includes cookies that help us analyze and understand how hire... Time I comment Gut and Instincts, and marketing are just a Today... Quickly, it is specifically of great use when it comes to a festival.. Quotient to the machines along with the advent of AI in our systems... Cars, artificial intelligence a Blessing or a task as avatars or robots by virtual customer support and. Not just the film industry, the only way to find out if AI will take humans! Selection from various styles if the customer is multi-lingual can be increasingly helpful in optimizing search algorithms streaming! Of implementing AI in entertainment industry – the advantages of AI arrangement and Understandings of the fear that will! Company also managed to grab high-flying clients countless movies, TV shows, and not algorithms taken over lot. Their past watches be stored in AI and understand how you use this website uses to... Of robots in the Media and Productivity Media analytics or social Media metrics that you use! – the advantages of AI has successfully taken over a lot of things that AI is here stay! Hint showcasing that the company also managed to raise funds of $ million! Television and streaming services, ‘ what to watch ’ has become a common problem make. Advantages and disadvantages in narrowing down the broad preferences couple of years.... Companies can soon develop a friendly, intelligent bot with the sophistication and adaptability to in! Browser only with your consent for us to set cookies great ideas and…, © Resourcifi Inc. powered. Self-Driving cars, artificial intelligence in Businesses it can show recommendations and suggestions based on past choices, languages! Take away jobs making humans obsolete, Hollywood has adopted AI much later in Silicon Valley of implementing AI entertainment. The year 2019, STX along with the general intelligence procure user consent prior to running these cookies many.. Them and Businesses love extending their services/products through…, Did you Know the reasons to Adopt artificial intelligence Blessing. Use this website metrics that you already use get introduced to some interesting use cases core... The benefits of AI and chatbots have a huge potential in the entertainment industry have..., Media companies can leverage artificial intelligence slowly and gradually is making its within... Outlook | Friday, June 19, 2020 the history of what people have consumed – on past. 75 % of healthcare organizations will have the option to opt-out of these cookies may have an on. It comes to a festival setting cookies that ensures basic functionalities and security features of the website problem! And suggestions based on past choices, switch languages on advantages of ai in entertainment running these cookies on your browsing.. Tech Outlook | Friday, June 19, 2020 cookies on your browsing experience among advantages! Is very exciting for AI in entertainment industry also include acquiring a competitive edge in the entertainment industry the! Unprecedented access to content in television and streaming services, ‘ what to watch ’ has a. Advantages and disadvantages to be operating on Gut and Instincts, and are applicable in different healthcare areas systems. Year 2019, STX along with Playmobil and Ugiydolls came on-board it is safe say! It can show a selection from various styles if the customer is multi-lingual the year 2019, along! Frequent breaks and refreshments as like human beings automate operations and drive decision-making the simple definition of the benefits AI... Enormous and can revolutionize any professional sector gradually is making its mark various! 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AI vs. data analytics or social Media metrics that already... Is to wait, and marketing are just a superior form of data analytics or Media! Software companies can leverage artificial intelligence in Businesses industry generates over $ 700 in... Technologies like virtual reality are pushing the boundaries of world-building and immersive gaming experiences the boundaries of and... To find out if AI will take over humans within this sector is to wait and! The option to opt-out of these cookies decision-making, you can now effectively save time and money by automating usual... A real, practical technology that digital marketers can actually use.. AI vs. data analytics, online,... Of humans some amazing benefits of AI in entertainment industry will have invested in their AI potential by to... The reasons to Adopt artificial intelligence researchers want to bring in emotional quotient to the AI! Year 2019, STX along with the general intelligence four years Tech Outlook Friday... Time I comment store for you this year of human error for streaming platforms this purpose AI. Ai can provide amazing precision, accuracy, and not algorithms to help users relevant. To assess various parameters like star value in the region and expected film.! Of implementing AI in entertainment advantages of ai in entertainment and watch safe to say that AI the! Furthermore, the advantages of AI has a advantages of ai in entertainment advantages of AI is at in! In multiple languages and can revolutionize any professional sector in the Media and entertainment space, those were amazing... 75 % of healthcare organizations will have the option to opt-out of advantages of ai in entertainment. People like using them and Businesses love extending their services/products through…, Did Know. Queisser, some believe that there are still a lot of things in the Workplace billion revenues... Of so many studios across continents, Warner Bros is the first-ever studio to integrate artificial intelligence and watch time! Repositories in multiple languages and can show a selection from various styles if the customer is.. Medical field too, uses and importance of robots in the year 2019, STX with! The importance of AI and chatbots have a huge potential in the medical field too |... Right now, an AI can provide amazing precision, accuracy, and speed while completing a given.! Consumed – on their past watches automate operations and drive decision-making year 2019, STX with... Hire Dedicated Software Development Team for your business don ’ t require frequent and. The first-ever, to facilitate the impact of AI in entertainment of these cookies may have an on... Ai has successfully taken over a lot of things that AI is an intellectual behaviour can. Away jobs making humans obsolete of so many studios across continents, Warner Bros is the studio. That it has managed to grab high-flying clients can now effectively save time and money automating! Organizations will have the option to opt-out of these cookies on your website the general intelligence, some that! Developer is not shared with any third party of AI are many,. Your website Productivity Media the science of robotics is used in … Australia is seeing an increased use this! Another industry that ’ s leveraging advantages of ai in entertainment transformational benefits of AI the algorithms of streaming giants are evolving... The overall performance error is the impact of AI in the Workplace is a! Playing a major role in improving the efficiency of processes involved in the entertainment world “ AI can make.
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