IDC forecasts global Artificial Intelligence (AI) spending will likely cross US$46 billion in 2020.
Like in many areas, AI is disrupting the media industry, as large amounts of data become available from the hours we spend watching videos.
For media executives, it's almost a given: AI can help automate workflows for greater productivity and provides insights to make smarter decisions.
But what if AI could do more? Here are three things you didn't know AI could do for your content production.
Make Worthy Content
Producers are in a race to make content that is original and creative. More often than not, this process includes extensive reviews of past content to gauge viewers' interest and avoid duplication of content at the same time.
AI makes it easier for the publisher or content owner to understand consumers' specific preference and behavior by leveraging machine learning. For instance, if User X watches Video A then clicks to watch Video B, we can infer the likelihood of User Y wanting to watch Video B as well is high if he/she watches Video A. These patterns feed into a powerful neural network of decision-making which producers could leverage to personalize content.
Couple this with an AI-powered in-depth calculation, which tells content makers the type of content they should prioritize. You'd be more empowered to make a calculated decision rather than basing it on intuition or superficial assessment.
Give Content a Rebirth
As more money is spent on producing content, the ability to make the most out of it is critical. Localization of the content to cater to each market's needs is one way and AI could help speed up the process. Tech giants like Microsoft, Google and Facebook are working hard to develop and enhance AI technology to take into consideration speech nuances and languages.
Leveraging existing content is another way. We can almost always hear the same pain point: "I don't even know what's in my archive at this point." Locating relevant footage to supplement a news bulletin or documentary often becomes a huge challenge for content companies as they sift through vast amounts of archived video assets, let alone monetize them. With AI, media organizations can index existing content with powerful metadata capture techniques to easily identify and repurpose archived content.
Monitor Live Events
The issue with live events is that there are a lot of moving parts and if one thing goes wrong, it could cripple the entire event. Monitoring a live event and troubleshooting issues are typically performed in silos, leaving media organizations in a fix as they try to accurately pinpoint and resolve issues. For example, AI could watch out for unexpected spikes in viewership during the live broadcast and alert broadcasters to immediately add server capacity as needed.
Get in touch to find out how you can leverage AI to increase audience engagement and drive revenue.