Introduction:
Artificial Intelligence, referred to as AI, is a hot topic across industries. Fortune Business Insights projects that the market will grow from $387.45 billion in 2022 to $1,394.30 billion by 2029 at a CAGR of 20.1%.
The impact of AI is visible in every sector, including the media and entertainment industries. AI in the Media Industry enables the industry to adopt new and more innovative ways to reach consumers. The latest data-driven tools bring personalized solutions for every need and demand.
Many industry experts advocate that AI technology will increase their potency by automating various repetitive tasks and will make media accessible to everyone anytime, anywhere.
This article will help you understand current and promising future use cases of technology in the media industry.
Why is Media Industry adopting AI?
Beyond our initial imaginations, digitalization is significantly changing the media industry. All conventional components in the media sector, including radio, television, and the film industry, have acknowledged the significance of digital strategies.
However, the digital transformation that these media players hope for is complex. It calls for a cutting-edge strategy to maintain a competitive edge over everyone else — and here is where AI comes in.
According to statistics, the worldwide AI market in the media and entertainment industry will grow from US$1.8 billion in 2018 to US$8.4 billion in 2023.
The initial adoption of the technology has shown promising results and increased productivity while cutting operating costs.
Hyper-Personalization in Content Delivery by AI
Standard personalization is based upon a cherished understanding of the use of a product/service and the behavior of its user personas. Hyper-personalization is an extension of it.
Hyper-personalization makes a grip on real-time data and AI to build even more customized user experiences.
OTT Platforms
In recent years, the global OTT marketplace has elevated to new heights that conventional media took decades to reach. The market may reach US$438.5 billion by 2026 with a CAGR of 19%.
OTT platforms like Netflix, Amazon Prime, etc., leverage AI for an incredible UX. Some of the advancements are possible because of the inclusion of AI into systems.
For instance:
● Personalized recommendation of movies/ web shows
● Personalized images or thumbnails to increase CTR (click-through-rate)
Social Media Apps like TikTok, Instagram, etc.
Facebook uses cutting-edge machine learning to target users with ads, show you personalized content, and even identify your face in videos. Instagram uses AI to understand Images and short video content.
LinkedIn uses AI to serve specific posts in your feed, indicate connections you might like to make, and make job recommendations.
Snapchat uses computer vision, an AI technology, to monitor your features and overlay filters that move with your face in real-time.
These are just a few examples of how AI works behind the scenes to power features of the world’s most popular social networks.
Above all, TikTok has changed the entire landscape and now stands on top of the competitive landscape. The engines on the platform gather statistics to assess audience response by pushing the content into the first traffic pool. The number of likes, unique views, complete views, comments, reposts, follower growth, shares, rematches, etc., are essential metrics recorded at this stage.
Video Streaming Platforms like Vimeo, YouTube, etc.
AI bridges the gap between creators and viewers so that a viewer sees only what would interest him. When someone uploads a video, it undergoes an artificial intelligence engine developed by these platforms.
First, these engines analyze the visual part of the uploaded video. Here the AI algorithms check the video components for in-frame action, camera motion, object detection, tracking, etc. This helps the platforms ensure quality and pick the best content to push for its viewers.
Then the audio component is analyzed for quality and performance to ensure the best user experience.
Automating Audio-Visual Content Production by AI
Automated Journalism
AI and machine learning are developing at high speed and are close to competing with human resources. The world was shocked when an AI news anchor delivered the news in a national broadcast in 2018.
In 2019, China’s news media house Xinhua created the world’s first female AI news anchor, Xin Xiaomeng. The advancement has never dampened.
AI’s role in writing and reporting articles — There are multiple AI bots and tools now that handle textual content writing.
For instance, many publication houses have integrated AI into their content management system to create and distribute periodic content, such as weather and financial updates.
Automatic transcription and translation in real-time
Media houses, video streaming platforms, and OTTs publish much video content every minute. Just YouTube uploads over 500 hours of video every minute. Viewers watch over one billion hours of videos every day.
This is just YouTube; think of the massiveness of the video data all over the internet globally.
This may take an eternity for individual translators to manually process and transcribe subtitles for this amount of visual data. Getting the right human talents to translate this video content into specific languages is almost impossible.
Additionally, human interpretation is susceptible to errors. Media organizations are employing AI-based technology to overcome these challenges.
This is CellStrat’s one of the work areas where company is helping multiple organization's in translating sites and speeches in vernacular languages with artificial intelligence modules saving them huge amounts of money and time.
Content categorization and Classification by AI
A report by Statistica says that the volume of data on the internet surpassed 64 zettabytes in 2020. (One Zetabyte= A trillion gigabytes).
Distributed Artificial intelligence (DAI) has shown the capacity to structure Audio-Video-Text Data with high accuracy and speed. DAI has enabled us to provide various benefits, including enhanced contextual filtering of data and making propensity models.
Auto scripting of Meta Data:
AI can also automatically create meta-data for content classification. Going through every video/image and recognizing items, situations, or location is not possible manually. AI can help save time and accurately produce tags in real-time or within fractions of a second.
These AI systems are iterative; they may continually improve and produce better results with time.
Predictive Analytics & Content Moderation by AI
Online ads are crucial for brand development and commercial growth in the media industry. Updating content or advertising strategies requires advanced analytics skills.
Predictive analytics may determine which content audiences prefer after monitoring viral media content. Furthermore, AI is being utilized to make online advertising more exact and practical with a targeted audience to increase conversion rates.
Content Moderation:
Now online media has the power to change people’s ideologies, beliefs, and actions. An influencer’s online activity can cause unrest in civil bodies, invoke riots, or change political inclination. So, it is imperative to keep a check on the online behavior of its users. AI offers the power to keep a check on online activities that may affect the masses.
Media platforms and regulatory agencies use AI to monitor UGC (user-generated content). AI supports the identification and filtering of this type of hazardous content. Before displaying such content, AI can determine the user’s demographic and geographic information. It automatically filters out undesired content before broadcasting it.
Read how Facebook uses Artificial Intelligence to moderate content on its platform.
https://www.facebook.com/help/1584908458516247
Applications of predictive analysis are unlimited, like:
● Filtering fake news
● Knowing user interests
● Calculating advertisement ROIs across channels
● Automated content push
● User profile identification
● Spam Control
● Targeted advertisements across platforms
● Controlling and detecting bogus content etc.
Key Takeaways
The power of artificial intelligence (AI) is growing and extending as we move towards a society that is marked by digitalization.
Media Sector is also not able to escape its grasp. The media industry has seen significant change, with artificial intelligence opening the way for it to dominate all its sub-sectors, including TV, Digital Print, and Radio.
The use of AI in media will increase over the next several years as industry competitiveness and efficiency demands increase.
