The global spending on the artificial intelligence (AI) market is also estimated to reach $118.6 billion by 2025. A Business Wire research unveiled that the amount spent on cloud AI in the media and entertainment (M & E) industry is anticipated to reach $1,860.9 million by 2025 from $329 million in 2019.
The worldwide AI market adoption rate is estimated to reach $118.6 billion by 2025 [source: www.statista.com]
Here are some of the examples of how AI is changing the media landscape.
Social Media and AI is creating a symbiotic ecosystem for end-user engagement
● The AI market for social media is estimated to reach 3,714.89 million at 28.77% CAGR by 2025. With organizations resorting to the assimilation of AI and social media, they are trying to gain some competitive edge in the market.
● Social media platforms are the preferred choices for marketing services and products which is why AI is integrated to bolster end-user engagement via social media channels. About 1997 billion social media users from the Asia-Pacific populace have given a positive nod to marketers adopting AI for brand ads and promotions.
● Companies like IBM, Google, and Amazon are testing AI applications to explore the possibilities it possesses. IBM is combining the powers of Apple Inc. in AI, cloud, and ML for Watson and IBM Cloud Developer Console.
● Facebook’s deep learning technique comprehends an image using text and metadata, producing insights that eventually targets people who frequent images with similar meta and text context.
● Twitter also uses AI to remove accounts that promote hate speech and extremist ideas, sanitizing the online space.
● LinkedIn is also using AI for job recommendations, relating them to user posts and helping them connect similar people.
● Pinterest taps into their 200 billion user pool via neural networking and caters to them with the content on their interests.
● AI-enabled chatbots are empowering businesses running their social media channels to conduct conversations with their users. They are also being able to analyze sentiment or the nature of user engagement, giving brands to identify what their users want.
● Back in October, Google launched a new audiovisual speech enhancement feature for iOS devices, Looking-to-Listen, for YouTube Stories. The feature leverages both AI and machine learning to help creators take selfie videos with reduced background noise.
2. AI in Journalism
AI is breaking the media silos and creating a symbiotic ecosystem of experts to create relevant new media products for their viewers and listeners.
● Currently, AI accounts for 10–12% of the total functions required in journalism, so it’s not replacing the journalists anytime soon. But the Chinese news channel, Xinhua, used an AI robot, “Xin”, to present news, replacing a news anchor.
● The Canadian Press has been using AI in its newsroom to fast track translations.
● An In-House AI robot named Heliograf was deployed by the Washington Post to publish election and Olympic results. It wrote 300 short reports and updates on the Rio Olympics in 2017. Their AI-generated content received 500,000 clicks, with 850 published articles in 2016 which was 15% of what they had covered in 2012.
● Bloomberg news leverages AI to send journalists updates on trends or any sudden anomalous changes emerging from their big data analysis.
● With the help of a programming language R (widely used in AI and Machine Learning), the digital storytelling team of Times and Sunday Times leveraged data available from the website of Public Health England to generate regularised updates that were later published with figures by their online news team.
3) AI in Media & Entertainment Industry
Predicting user behavior and their choices have now become a part of every company’s business model.
● Streaming already accounts for half of the data flowing in the world. With AI, real-time streaming can help largely improve the consumer experience. OTT platforms like Prime Videos and Netflix have already proven effective with their AI-backed recommendations system. So, the same can be expected from the future generation of digital video.
● VR and AR are also being extensively used. A 2017 study on VR predicted that it will be one of the fastest-selling segments of the media industry. With AR/VR content, media companies can freely experiment on the interactive aspect of their content, taking user experience to the next level.
● 20th Century Fox, an American film studio, is leveraging Google Cloud AI and Machine Learning tools to understand their audience preferences, demographics, and projections to help them devise plots that will garner a massive appeal. Subsequently, this business model is helping them translate box office predictions and performance for future deliveries.
4. AI in Media Marketing
Content Personalisation is used by platforms like Netflix which uses Machine Learning and AI to study user behavior and provide recommendations based on their watch history.
● AI-driven marketing is helping companies engage and retain users and is using predictive analytics to help companies cater to audience goals and create effective user experiences for maximum retention.
● Marketers, with AI help, are drafting online ads, social media, and email content, leveraging the same to analyze opportunities for these contents to be published. Text mining AI tools are also assisting in the generation of traffic by identifying keywords or phrases with higher possibilities of traction.
● IBM Watson advertising uses AI to boost advertising results. While working with Hulu, they leveraged Watson Ads to engage users in a one-to-one dialogue to unveil their preferences to help them serve better.
● Google Marketing Platform has also baked AI techniques in helping their customers. With the help of Google Kubernetes Engine and AI, users can now make real-time predictions on 1.4 billion people while making sure that their clients respond to consumer behavior instantly.
● AI also has an instrumental effect on how marketers are using SEO. Campbell, a soup company uses an AI-backed automation tool to compress 75000 images within a day, making them rank on page one within a few weeks.
● Marketers are using social media sites to run paid ads to active users based on their granular preferences and behavioral patterns. AI is also writing Facebook and Instagram ads which are innately optimized for conversions and clicks.
● AI-driven marketing is using predictive analytics to help companies cater to audience goals and create effective user experiences for maximum retention. IBM has made the trailer for the horror movie “Morgan” with AI after analyzing 100 horror films and curating the most exciting moments in that trailer.
5. AI in Video Games
● With AI, developers are creating characters with animations.
● Although machine learning has been historically used in video games to play against human players. But these days, ML approaches machine learning to make opponents more sophisticated for players. In the video game, “Alien: Isolation”, the developers made the AI opponent improvise with player behavior making the human player never anticipate what they can expect next.
● The Esports industry is also another growing industry just like the Olympics. The opening ceremonies of these events are grand and they pull in a lot of viewers. Riot Games, for instance, bought an AI-powered Augmented Reality dragon in a stadium in China which created a lot of hype. You can watch this video here — https://youtu.be/mP3fGkpmVM0
● Online gambling platforms are also using AI and Machine Learning to weed out fraudulent activities. SEON, a gambling vendor has been using AI to sanitize their platform, keeping the legitimate players on boards.
6. Future-Proofing Media with AI
AI’s integration in understanding the user model and predicting audience choices is already a vital part of most media business models. This function of AI can directly disrupt the existing marketing strategies with a future-proof and streamlined framework for companies to identify the most relevant content to their audience and drive earnings subsequently.
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