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How Hollywood could and should deploy AI
The OpenAI logo is displayed on a cell phone with an image on a computer monitor generated by ChatGPT's Dall-E text-to-image mode on Dec. 8, 2023, in Boston.
(
Michael Dwyer
/
AP
)
Topline:
Hollywood has talked a big game around AI, but last week’s $1 trillion selloff of AI stocks has many questioning whether the promises of the technology will actually come to bear.
Why it matters: Hollywood has been conspicuously absent from the AI conversation taking place in tech and finance about the high cost and unclear returns from the technology. As studio CEOs have emphasized that AI will be crucial in the fight to cut costs, they’ve focused less on how it could generate revenue even today.
Improving the product: Where AI can really come into play for the actual output Hollywood is producing is in visual effects (VFX). These tasks are notoriously time intensive, and AI can help today in cleaning up shots and even providing effects that weren’t possible before. Before ChatGPT was on everyone’s radar, Runaway’s AI tools helped Everything Everywhere All at Once become the best picture-winning film it became.
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Going global: AI can be hugely beneficial for dubbing and localization, whose costs have traditionally been too high to pursue widely. AI can help convert a rights owner’s library so they can find new audiences in international territories.
Stop the churn: One of the main reasons for streaming services losing customers and then having to try to win them back, is that consumers think there’s nothing else they’d be interested in. AI can generate more personalized recommendations for consumers, reducing churn, which both generates more revenue and saves money.
For more... read the full story on The Ankler.
This story is published in partnership with The Ankler, a paid subscription publication about the entertainment industry.
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But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
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