The global video streaming market is poised to reach $184 billion by 2027, boasting a Compound Annual Growth Rate (CAGR) of 20% from 2020 to 2027. AI significantly and positively influences this industry.
While AI has long been employed in the video streaming sector, particularly in Recommendation Engines and User Insights, the future will witness content creation emerge as the predominant use case. Let\’s delve into the current and prospective applications in streaming influenced by AI:
Recommendation Engine:
Approximately 80% of content consumed on platforms like Netflix and YouTube is driven by AI-powered recommendations. Thanks to AI, these suggestions have become remarkably accurate, prompting users to rely on them rather than investing time in manual searches.
User Analytics:
Streaming services harness AI to collect and analyze user data, enhancing retention, engagement, and the commercialization of interactions. AI delivers precise and actionable insights about user behavior.
Dynamic Content Creation:
A compelling and futuristic use case, dynamic content creation is anticipated within the next 3 to 5 years. Imagine scenarios such as requesting \’The Sixth Sense\’ with Tom Cruise as the lead, watching \’Jurassic Park\’ without violence, or crafting a personal story transformed into a movie featuring favorite Bollywood actors and songs in the desired singer\’s voice. Dubbing of content will appear seamlessly natural.
To reach this advanced stage, several prerequisites must be met:
– Utilization of AI technology capable of rapid content production, with ongoing efforts to make it practical for real-time applications.
– Advancements in computational technology, including potential integration with quantum computing when accessible to the public.
– Resolution of issues related to copyright, royalty distribution, and ethical considerations, necessitating the establishment of a fair system for all stakeholders, including actors, technologists, businessmen, and other artists.
While concerns persist about AI displacing jobs, I think that actors may be affected in the future as well. However, significant developments in these areas are still unfolding, affording ample time for industry stakeholders to navigate the evolving landscape.
#aicontentcreation #generativeai
*image by comp on Freepik
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