AI is becoming integral to content creation, curation, monetization, and distribution.
ADOPTION of Artificial Intelligence (AI) can increase revenues by 10 per cent and reduce costs by 15 per cent for media and entertainment companies, Ernst & Young (EY) asserted in a report published during the first edition of WAVES Summit.
The global media and entertainment (M&E) industry is undergoing a dramatic transformation, driven by the proliferation of artificial intelligence (AI).
From content creation and curation to monetisation and distribution, AI is becoming integral to how stories are told and consumed.
“Our analysis indicates that in the medium term, AI can increase revenues by 10 per cent and reduce costs by 15 per cent for media and entertainment companies,” the EY report titled ‘A studio called India: Content and media services for the world’ said.
EY said that India, already a powerhouse in content production and IT services, is uniquely poised to lead this transformation.
Indian companies are leverzging Genai tools for creative purposes and campaign optimization, content performance improvement and audience engagement.
OTT platforms have started using AI to offer hyper-targeted content recommendations based on regional preferences, affluence, geotargeting and consumption patterns. On the monetisation front, AI drives dynamic (and customized) ad insertions and optimises pricing strategies through realtime viewer analytics. — ANI
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