There’s a game-changer in the media and entertainment industry, and we have artificial intelligence (AI) to thank. The global industry is using the power of AI to make visual content more interactive and exciting. It helps to serve the audience to personalize the scope of the content while enhancing the viewing experience which is more interesting and entertaining. While on the other hand, the entertainment industry needs innovative technology to make the audience experience more enjoyable and user-friendly.
You do not believe me ? Here are some statistics to convince you: the AI market is expected to reach $312.47 billion by 2027. Suffice to say, this potential has attracted companies from a wide range of industries interested in technology, including the media and entertainment industry. Why? Well, artificial intelligence, for starters, can help media and entertainment companies sift through fake news, automate tasks, manage budgets, and more.
To drive the point home, here is a list of some of the main applications of artificial intelligence in the media and entertainment industry:
- Chatbot: Customer service is just as crucial in the digital world as it is in the physical world. But ensuring high quality was a sore point until the concept of virtual assistants or chatbots emerged. Today, more and more streaming services, OTT platforms, etc., are making chatbots work for their services. AI-powered chatbots can not only answer a wide variety of customer issues, but also gather vital information, such as preferences, key questions, etc., which can help businesses adapt their business models , their strategies, etc.
- Personalization: The new era customer is very picky and demanding, which has made personalization a top priority for companies creating and/or delivering content. How else do you think platforms like Netflix, Prime Video, etc. managed to be so successful? They rely on artificial intelligence and machine learning algorithms to develop an in-depth understanding of critical factors such as user behavior, demographics, etc. This information is then leveraged to provide content recommendations tailored to individual users; unique preferences.
- Metadata tagging: There’s no denying that the digital realm is full of content, but if all that content wasn’t categorized, users would never be able to find what they were looking for. To this end, AI video intelligence solutions for video annotation and frame-by-frame content analysis help identify relevant objects and tags. This, in turn, ensures that any content created is readily available online and accessible.
- Online Ads: Online ads are an essential part of the media and entertainment industry ecosystem, which relies heavily on business promotions, branding, and other concepts. In this context, artificial intelligence can help media and entertainment companies improve their online advertisements through better accuracy and productivity through better targeting. Take Google AdSense, for example; it leverages AI-based detection to analyze users’ browsing history and habits, among other things, to help companies target their advertisements to the right target audience.
Artificial intelligence, as you can see, holds tremendous potential when it comes to the media and entertainment industry. Although the discussion above lists a few examples, they are by no means the only possible applications of this advanced technology in this sector. Rest assured that in addition to content personalization, better online advertisements, etc., artificial intelligence can also help companies improve their customers’ experience with their platform or services, automate the generation of subtitles for their content, and much more. What are you waiting for then? Start looking for a trusted entertainment software development company to help you welcome AI into the fold and take your business to the next level.