Mumbai: “Show business” really does not exist! We have seen the world of entertainment and media change shape over the past few years, and more drastically since the world around us changed as a result of the pandemic. The entertainment industry has shown a massive boost during the lockdown years, but not in the expected way. The new era of media and social media platforms has transformed the way entertainment is consumed today, and the role of technology has also become much more intrinsic along the way. Everything from the way we create, publish and share text, audio and video content to the increasing accessibility of production technologies such as high-resolution cameras, content development software and smartphones is changing. . The landscape is booming with technology-driven innovations on both the delivery and consumer side.
With revenues expected to exceed $9.5 billion in 2022 when video ad technology is taken into account, the importance of AI and ML in the media and entertainment industry can no longer be ignored. While this may not have been an obvious use case before, today leveraging AI and ML to better target households with ads, automate more operations, and secure content and operator services is just the tip of the iceberg. AI has already demonstrated its promise in the music world by producing beautiful melodies and in the art world with strong aesthetic influence. It will be interesting to see how AI in entertainment is likely to have a marked influence on how people interact with movies, TV shows, videos, sports, and games.
Glimpses of this shift are already apparent today. Media companies are realizing the growing competition they face with new players in the market, from OTT platforms to social media platforms, vying for consumer attention. There is a growing urgency to not only produce more content faster, but also to ensure that the quality and plot of the content produced remains top-notch.
Enter AI and ML.
There are a myriad of applications for these two cutting-edge technologies to enable a massive increase in media and entertainment businesses, from beta testing content to gauge interest in creating interactive content to even l evaluating the right platform for maximum success and viewing. AI and ML have a role to play the hero who saves the day at every moment.
Some of the emerging application areas of AI and ML are:
Know your audience: With the increase in choice also comes the problem of abundance. Audiences that were previously limited to a few platforms to sate their appetite for entertainment are inundated with a plethora of choices. In such a landscape, knowing audience preferences becomes business critical, and media companies that can harness the power of machine learning to better understand their audience will have a distinct advantage as we move forward by being able to deliver relevant and engaging content to every individual every time.
Feel with your audience: It’s not enough to know who your audience is. A step up from the data intelligence provided by AI and ML is understanding how the audience feels every time they view the content you produce. Testing your audience’s emotions can help you dig deeper into how content has been consumed and perceived in order to make future bets that can help you gain viewership shares and also ensure permanence in an era where costs of customer/viewer acquisition are only increasing.
Offer your audiences: How many times have you heard the phrase “right place, wrong time”? Marketing managers understand the critical importance of timing in reaching customers. The same content that resonates at one point can have a diametrically opposite response when you catch the consumer at the wrong time. Emotion AI can help you not only understand what share of delivered content is on the right side of the scale to ensure better results for your targeted campaigns. Removing the spray and pray approach would be entirely possible if advertisers and marketers could tap into the hidden potential that emotional AI is helping to unlock for all video content currently being produced for the success of their marks.
Engage your audience: If only we could read the minds of our users to know exactly what they understood and where the gap remains, all of our efforts to produce better content in any context would be multiplied. This feature is offered by all major companies, like YouTube, Netflix, Spotify, etc., to improve the reliability and usability of their services.
The AI is also able to adjust video quality based on internet speed. The AI can analyze the internet connections of various viewers in various regions to handle this issue, and it can compress videos without sacrificing their quality to provide a buffer-free streaming experience.
Advertising and the media
Advertising, content design and promotion are just a few of the marketing and business applications of artificial intelligence in the entertainment industry. The best AI algorithms to use when developing results-driven advertising and marketing solutions. Through the use of AI-powered marketing software applications, businesses can respond to their audiences’ needs and preferences, develop marketing plans, and create effective customer-centric digital solutions. For example, AI in the media industry can quickly produce hundreds of eye-catching graphic designs for advertising. Thanks to such advanced and revolutionary technology, manual labor has been greatly reduced and productivity has increased. By using emotional artificial intelligence, the advertiser can understand the best demographic group to target their campaign to for maximum return.
For example, if emotional AI indicates that a person experiences feelings of passion and attachment while watching a football game, it can help the sportswear company understand that this particular audience and medium works the best to reach them through their campaign. By checking creative intelligence output before launch and creative intelligence output after launch, campaigns will become more targeted.
Development of AR/VR
As we already see with the use of AR in advertising, it is important to note that in addition to the fundamental use of AI in entertainment, the development of AR and VR applications will also make this more attractive and immersive domain. We will be able to watch events from all angles, which will allow us to have richer and better experiences. AI will help us understand the feel of the real live event. AI can, however, be used to produce interactive content for augmented reality and virtual reality. With a set of glasses and AI technology, the entertainment industry can perform miracles and produce beautiful scenes.
Consumer interest is naturally drawn to the creation of virtual reality content for cooking shows, reality shows, live events and programs based on artificial intelligence. Watching TV and movies with real emotional effects won’t be a pipe dream with all these modern technological advances; it will certainly become a reality. To make it a reality and to understand the concrete effect of content, Emotion AI will be a revolutionary and extremely important tool for progress in terms of content type that would be accurate for different elements and scenarios.
Harnessing Emotional AI
For a piece of content to succeed, it is essential to attract and maintain the attention of the audience in question. If the audience isn’t engaged from the start, you’ve already lost the plot. It therefore becomes imperative that the industry does its best in testing the creations before the final launch – this helps to gauge the potential. Pre-testing content using Emotion AI gives creators a better understanding of how pre-launch video creative intelligence can help drive better business results. Emotion AI testing with a predefined target audience helps content creators determine if content evokes the right kind of reciprocal emotional response. It allows creators to understand high and low engagement areas and edit content for maximum engagement. Organizations can match AI emotional response results to multiple variables of age, gender, geography, time of day, and more, ensuring content is never out of place.
Automatic subtitles and transcription
International media companies need to provide relevant content for audiences in different locations. Therefore, companies need to offer accurate and engaging multilingual captions for their video content platforms. It can take thousands of hours and effort to handwrite subtitles for multiple movies and TV series in a variety of languages. Moreover, finding the ideal candidate to accurately translate a text into multiple languages is a challenge.
So, to bridge this existing gap, the powers of AI-based technologies such as deep learning and machine learning are being harnessed for natural language processing to transcribe movies, music videos, and TV episodes. in many languages. To reach a wider audience and foster user engagement, the film’s voice is translated into multiple languages with subtitles and audio commentary.
For example, YouTube’s artificial intelligence helps its publishers easily access their content by automatically generating closed captions for videos posted on the platform.
Metadata markup
With the huge amount of content being created every minute, making that content visible to viewers can be a daunting task for media and entertainment companies. Distributors and media producers like CBS Interactive use AI-based video intelligence technologies to deeply analyze footage by detecting and framing elements to add appropriate tags to complete this task. in large scale. As a result, any content held by media companies is easily detectable, regardless of its mass.
Due to intense competition and the changing nature of the marketplace, the business and business models needed to thrive in the digital world are challenging and require a significant shift in mindset and approach. Customers are at the heart of the media industry because they are now more powerful than ever. Organizations around the world are realizing that the customer is truly king and cannot be ignored. By unraveling and experimenting with AI and ML, media and entertainment companies maximize their business performance and improve user experience and entertainment value with greater efficiency.
The author of the article is Lightbulb.ai co-founder and CPO Vishal Soni.
