How AI is Future of Media Industry?

Logically, AI is everywhere!!   

According to statista.com by 2025, it is anticipated that the worldwide artificial intelligence (AI) market will have generated $118.6 billion in revenue. Nowadays, practically all industries use the buzzword "artificial intelligence" to describe new technologies. There are continuing discussions about how AI can disrupt the manufacturing, healthcare, and automotive industries.   

Everyone taking part in these AI side conversations agrees that AI has the potential to increase economies, spark new ideas, improve industrial processes, and do several other things. In this case, we can’t overlook the media! The media landscape has been radically changed with the arrival of digital transformation.  

Since we have been indulged in providing media testing services for the past many years, we have witnessed AI as a revolutionary tech that has reshaped the media industry. In this blog, we will learn about how AI (Artificial Intelligence) is the future of media.  

Let’s begin!!                                                                                                                 

Evolution of Media with AI 

Beyond our wildest expectations, digital media is significantly changing the media landscape. The relevance of having digital strategies and how these strategies can become important sources of revenue creation has been highlighted by all market participants in the media sector, from radio and TV to cinema. To maintain a competitive advantage or outshine the competitors over everyone else, these media players must undergo the difficult digital transformation they are hoping for, which is where AI steps in.   

Media players' business models already included some AI-enabled services before we realized it. Consider Netflix as an example. Its recommendation engine, which aids viewers in rating movies even before they watch them, uses computer vision algorithms. The same is true for 20th Century Fox and IBM, who employed AI to create a trailer that audiences would find frightful and intriguing by pressing the play button.  

The latter example was made possible because IBM and 20th Century Fox employed machine learning ML algorithms to examine a variety of thriller and horror movie trailers to create a single teaser that would genuinely engage viewers. Thanks to AI, who made this coordination successful!  

How does AI influence media?  

Media and entertainment companies engage with viewers in today's digitally empowered environment using a data-driven strategy. They benefit from having a powerful brand presence and an interesting social media presence. It is thanks to data collecting and predictive models that players can now comprehend their audience more precisely.  

Its uses are numerous, and extensive, and span many functions and processes. On the surface, it appears to be assisting media brands in improving their services and user experiences.   

Know How To Make Use of AI for Performance Testing

Read here: How To Leverage AI For Improved Performance Testing

Predictive analytics, recommendation algorithms, lead scoring, audience segmentation, customer journey mapping, etc., are other applications of AI in this field. AI-based apps are assisting in improving the quality of information and successfully distributing it to viewers.  

Let’s discuss how is this happening.  

• Personalization Is the Key 

One of the amazing ways AI is changing the media landscape is by controlling user behaviour and assisting media brands in providing users with customized content recommendations. Cognitive AI also contributes to greater consumer happiness and engagement.   

Today's OTT platforms provide suggestions for watching specific TV episodes and films. AI is used to enable these recommendations, which are based on our watch history.  

• All In all, AI Improves the Services 

The power of AI is also used to improve the services that media players provide. AI-enabled Technology makes all of it possible by automation of editorials, elimination of manual intervention, and the cost-optimization of content generation.   

• Improve Marketing and Advertising Campaigns 

Production firms and other media organizations can develop realistic yet appealing advertising campaigns and marketing tactics, including promotion, design, commercials, etc., by leveraging the power of AI and clever algorithms. Additionally, AI can speed up marketing procedures by applying the foundations of predictive analytics.  

 Acquiring digital rights for the content and managing IP and royalties are two of AI's key advantages for the media sector. By doing this, the creators have more time to choose fresh and interesting content. Additionally, the technology aids in the discovery of anomalies in the data when it comes to fan engagement and subscription-based services. Additionally, it automates the tedious activities of captioning, filtering, and delivering news.   

For instance, AI-generated live footage of a sporting event can assist in capturing the fan reaction to each goal and the action-packed gameplay. The images from the game can be combined with it to make a compelling narrative which can go viral and guess what? The more the content viral, the more its viewership increases.  

• Recognizing Fake News 

By spotting bogus news, AI is assisting the media sector in one of the most amazing ways. Deep learning AI algorithms are now utilized to source and fact-check a narrative to detect fake news. Chatbots are another example of how artificial intelligence is used in the media and entertainment sectors.   

• Using Chatbots to Communicate with the Target Audience 

Conversational bots driven by AI make it possible for brands to be present 24/7 and to engage with audiences on a larger scale. This ultimately improved the overall CX. They provide hassle-free browsing and raise the quality of the enjoyment. The chatbots can also give news updates, weather alerts, and suggestions for shows, movies, events, and other things by analyzing user behaviour.  

• Metadata Tags   

Similar to text annotation, metadata tagging involves attaching labels to the content or different components of the content. Imagine a million new pieces of content produced every minute, and human beings cannot categorize all of these materials to make it simple for viewers to consume them. To manually classify items, places, and scenes and then add tags media company staff must spend countless hours watching videos and other media. The procedure would take ages.  

But now,  It is now simpler for media firms to make their content discoverable by millions of people as soon as it is created, thanks to AI, which allows content creators to evaluate any type of media content, detect things, and tag them with the proper tags.  

Role of AI in the Media & Entertainment Sector 

Today, predicting user behaviour and decision-making is crucial to every corporation's business model.  

Real-time streaming may significantly enhance the customer experience with AI. Streaming already makes up about 50% of all data in motion worldwide. With their AI-backed recommendation systems, OTT companies like Prime Videos and Netflix have already demonstrated effectiveness. Therefore, the same might be anticipated from the next wave of digital video.   

VR(virtual reality) and AR (augmented reality) are also being extensively employed. According to a 2017 report on VR, it will be one of the media industry's fastest-selling areas. Media firms can freely experiment with the interactive nature of their material with AR/VR content, elevating the user experience.  

Wrapping Up 

The need to develop a competitive edge that will put media companies ahead of the competition is driven by the escalating competition in the media sector. As more AI algorithms are applied in the coming years, it is projected that AI's function in boosting productivity and generating income will change the media sector completely. However, it is equally necessary that development firms should aim at yielding maximum potential out of quality assurance services. 

Besides, the use of the mentioned above examples in the media sector shows how effective the use of AI is. These show how companies are now ready to leverage and experiment with what AI can do to enhance company performance by improving consumer experience and creating value simultaneously. 

Good Luck! 

At Bugraptors, we provide AI testing solutions for no-bug media & entertainment service, delivering technology that is of quality, efficient and speedy.  For more information, reach us at Info@bugraptors.com