There’s a change foot in the media and entertainment industry, and we have artificial intelligence (AI) to thank for it. The global industry is utilizing the power of AI to make visual content more interactive and exciting. It helps to serve the audience to personalize content reach while enhancing the viewing experience that is more interesting and entertaining. While on the other hand, the entertainment industry requires innovative technology to make the audience experience more enjoyable and user-friendly.
Don’t believe me? Here are some stats to convince you: the AI market is expected to grow to $312.47 billion by 2027. Suffice it to say that this potential has got businesses from a broad spectrum 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 so much more.
To further drive the point home, here is a list of some of the top applications of artificial intelligence in the media and entertainment industry:
- Chatbots: Customer service is just as crucial in the digital world as in the physical world. But ensuring high quality had been a bit of a sore spot until the concept of virtual assistants or chatbots came along. Now more and more streaming services, OTT platforms, etc., are putting chatbots to work for their services. Artificial intelligence-driven chatbots cannot only address a large variety of customers’ issues but also gather vital information, such as preferences, essential questions, etc., that can help companies adapt their business models, strategies, etc.
- Personalization: The new-age customer is very picky and demanding, and this, in turn, has rendered personalization a top priority for companies that create and/or offer content. How else do you think platforms such as Netflix, Prime Video, etc., have managed to be so successful? They have help from artificial intelligence and machine learning algorithms to develop an in-depth understanding of critical factors such as user behavior, demographics, etc. These insights are then put to work to deliver content recommendations adapted to individual users; unique preferences.
- Metadata tagging: There is no denying that the digital realm is brimming with content, but if all this content remained uncategorized, users would never be able to find what they are looking for. To that end, AI video intelligence solutions for video annotation and analysis of content frame-by-frame help identify objects and relevant tags. This, in turn, ensures that any created content is readily available online and accessible.
- Online ads: Online advertisements are a critical part of the media and entertainment industry’s 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 ads through better precision and productivity via better targeting. Take Google AdSense, for example; it leverages artificial intelligence-driven sensing to analyze users’ browsing history and patterns, among other things, to help companies aim their ads at the right target audience.
Artificial intelligence, as you can see, offers an abundance of potential when it comes to the media and entertainment industry. While the above discussion lists some examples, they are, by no means, the only possible applications of this advanced technology in this sector. Rest assured that besides content personalization, better online ads, etc., artificial intelligence can also help companies improve their customers’ experiences engaging with their platform or services, automate subtitle generation for their content, and so much more. What are you waiting for, then? Get started on looking for a trusted entertainment software development company to help welcome AI into the fold and take your business to the next level.