A panel of entertainment industry experts believes that artificial intelligence (AI) is poised to revolutionize movie production. AI and its impact on entertainment was one of the main topics of discussion at Mip London, an event that brought together multiple leading production executives.
Discussions centered on AI in the entertainment industry all came to a similar conclusion; artificial intelligence has the potential to transform how the entertainment sector makes movies and TV shows. The executives shared insights on how content creation is transforming thanks to AI and highlighted how the revolutionary technology can help independent producers gain a competitive edge over traditional studios.
The Connected Set’s founder Jason Mitchell presented an animation tool dubbed Storyboarder.ai that used generative artificial intelligence to turn scripts into storyboards. According to Mitchell, the $50-a-month tool turns written scripts into storyboards which are then forwarded to human animators to do the actual animation. Mitchell says the ultimate goal is to have Storyboarder.ai go even further and do the animations themselves.
Digital production company Particle6 Productions is going to even greater lengths to implement artificial intelligence into entertainment. CEO Eline Van Der Velden says her firm has begun generating entire short films using AI, allowing Particle6 to cut production costs by a whopping 90% compared to conventional movie-making methods.
One of the main reasons production companies are adopting artificial intelligence-powered tools is to lower production costs. As such, small, independent production houses with limited capital are turning to AI in larger numbers.
Armoza Formats CEO Avi Armoza notes that with less cash flowing into the entertainment industry, everyone is seeking more cost-efficient ways to make movies and television shows. For instance, Armoza said, his production firm’s game show ‘Family Piggy Bank’ uses computer-generated images (CGI) to drastically reduce the money it spends building sets.
The use of sets that are entirely computer-generated allows Armoza Formats to use AI during post-production to generate different sets at a relatively low cost. Panelists at Mip London were especially optimistic about how artificial intelligence could help small production houses compete with established industry giants like Disney or Universal Studios.
Van Der Velden said Indie producers were better positioned to leverage AI compared to larger companies as they aren’t ‘ring-fenced’ or tied down by enterprise agreements.
Mitchell noted that while broadcasters have been resistant to implementing artificial intelligence in live productions, the technology is more accepted in development as well as post-production.
Furthermore, he said that while we can expect AI to reduce the number of job opportunities available to humans, the sheer volume of content AI can allow the industry to produce presents major opportunities for people in the content industry.
It remains to be seen how enterprises like Momo Inc. (NASDAQ: MOMO) that have interests in the TV and movie production space will leverage AI to improve their service offerings.
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