Top 5 Applications of AI in the Media IndustryJune 17, 2022
The media industry has observed the growth of AI applications at an unprecedented pace lately. By 2027, the AI market is expected to grow to $312.47 billion. Businesses need to stay updated on the latest trends to determine where they can subsume this technology to increase efficiency and keep up with the competition.
AI has been a crunch point for a while now, entering almost every field of our lives and enabling businesses to be more productive. The growing number of Internet of Things and connected devices are the primary elements driving this market growth.
Table of contents
- The Impact of AI On the Media Industry
- AI Filters Fake News
- The Role of AI in Media
- Applications of AI in the Media Industry
- Key Takeaways
The Impact of AI On the Media Industry
Business operations have now been modified. Through predictive models and enhanced data collection, industry leaders can understand their customers’ desires on a more granular level. Personalization has become expected and the shift to facial recognition technology has improved security.
Almost every industry is applying AI tools, including eCommerce, healthcare, and banking, but AI has been a game changer in the media industry. For example, Google’s Magenta project is an outstanding example of an AI melody composer, using artificial intelligence to create musical compositions.
Now, AI is sweeping the TV entertainment industry. Global mass media and entertainment conglomerate, Warner Bros., has set an example as a media giant incorporating AI into its film and budget management. AI automates repetitive tasks, filters and circulates news, streamlines captioning, and much more.
AI Filters Fake News
The internet is full of fake news, making it extremely difficult for consumers to separate reality from fiction. Fortunately, deep learning AI tools help the media industry check facts and sources to confirm fabricated stories.
An excellent example of this is the Google Search Algorithm update in 2017, which was projected to cease the distribution of hate speech and fake news. The University of Michigan developed another AI approach precisely to point out false news reports.
Websites are added to an AI algorithm to scan the source of the news and anticipate the most reliable version of the content. Adding more websites to the algorithm is recommended to get a more precise result. Although this technology is not 100% trustworthy, it’s still a step in the right direction.
The Role of AI in Media
PwC’s Entertainment and Media Outlook stated that by 2021, the US entertainment and media industry would reach $759 billion. Part of this growth is due to media professionals are experimenting with AI to deliver engaging content. Now that we’re on the verge of a technological revolution, let’s see how AI is improving the media and entertainment industry:
Improved Marketing and Advertising Landscape
AI programming can assist in marketing purposes, such as advertising, design, and film promotion. An example is developing movie trailers that grab audiences’ attention more effectively.
Personalized user experience
Nowadays, personalized user experience is one of the most critical business factors to consider. For example, when we highlight the impact of AI in the media industry, we can’t overlook Netflix, the trendiest platform with around 100 million members globally. Its deep learning algorithm makes it easy to identify users’ preferences and show them recommendations accordingly.
AI has also advanced analytical capabilities that directly impact a business’s marketing strategy. It assists in identifying the content that users enjoy, enabling it to discern the type of content that drives sales. Companies can then identify strategies and create business plans to drive earnings based on customer experience.
Intelligent data streaming is another perk of AI-driven solutions to deliver instant content. Customization and transmission of content is possible to achieve in real-time with the help of AI, which also makes it possible to improve customer experiences through targeted text annotation and ad insertion. Streaming makes up an enormous share of all the existing data, with video prediction to expound internet traffic by 2022. AI offers efficient ways to encode, broadcast, and organize data, playing a major role in the streaming industry.
Applications of AI in the Media Industry
In this section, we’ll focus on several common applications of AI in the media industry.
With unlimited pieces of content produced every minute, categorizing these items and making search easy for viewers becomes an arduous task for media company employees. This process demands watching videos and spotting scenes, objects, or locations in the video to categorize them and add tags. Instead, media producers and distributors such as CBS Interactive are employing AI video intelligence tools to perform video annotation and analyze each video’s content frame by frame, identifying objects and suitable tags. As such, any content that media publishing, broadcasting, and hosting companies create becomes readily available.
Personalized Chatbots for VA
AI-based virtual assistance is playing a significant role in the media industry. For instance, online music and OTT platforms provide users with a convenient customer experience and solve their queries.
An AI-based virtual assistance app can also help media companies collect useful data, such as common questions, suggestions, and user preferences. Businesses can then use this data to develop chatbots or train them for improved performance, ultimately improving their customer experiences and services.
One reason for top music and video streaming platforms’ success, like Netflix and Spotify, is that they offer content to people from all over the world with different preferences and tastes.
Such companies employ AI and machine learning algorithms to read demographics and user behavior. They later use that data to provide new music, film, and TV recommendations, catering to customers’ preferences and providing personalized experiences.
Controlling the Broadcasting and Detection of Fake Content
The media industry thrives on four different types of content. And aside from common subjects and general topics, there is obnoxious content broadcasted through outdoor or out-of-home (OOH) media, print media, broadcast media like Radio or TV, and the internet. Controlling this type of content is compulsory by the regulatory authorities such as The Federal Communications Commission (FCC). With the help of AI computer vision, they detect and filter offensive material. With the assistance of an automated content moderation service, the objectionable content is moderated before the broadcast.
The importance of making content accessible for everyone means media companies need to provide error-free multilingual subtitles for their audio and video productions. It would take thousands of hours for human translators to manually write subtitles for movies and shows in hundreds of languages. Human translation can also be prone to mistakes, so media companies are taking advantage of AI-based technologies like natural language generation (with the help of text annotation) and natural language processing to overcome these hurdles. For instance, YouTube publishers can automatically produce closed captions for their uploaded videos to make them more accessible.
These AI applications are currently in the top five in the media industry. As competition and demand for efficiency increase, AI’s role in media will only grow. By experimenting with and exploring the above, media companies are improving their business performances and user experiences, efficiently delivering valuable and targeted content to their audiences.