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Author: Biswajit Biswas

IBC 2023: Embracing an AI-Centric Future for Media and Entertainment

IBC 2023: Embracing an AI-Centric Future for Media and Entertainment

IBC offers a valuable opportunity to network with top minds in the sector who are innovating and propelling technology forward. Encompassing the full spectrum of the broadcast industry, from production to distribution, it provides an ideal platform to unite industry thought leaders. It fosters collaboration, mutual learning, and acts as a reliable indicator of the technology's future direction.

Apart from our meetings with partners, customers, and potential prospects, we always make an effort to gauge the industry's trajectory and forecast its implications for our field. While it's a substantial challenge to cover the entirety of IBC, which spans 13 halls with participation from over 170 countries, we did manage to pick up on a few significant trends highly relevant to our area of focus.

Content is king, but AI is kingmaker

It's becoming increasingly apparent that while content remains a cornerstone in the media and entertainment industry, it's the technology facilitating precise content delivery, at the right time, to the right audience, on the right device, that's truly transformative, ushering in the era of 'Affinity-based Broadcast.' The complexity of delivery ecosystems has grown immensely, rendering traditional methods and processes obsolete. AI can elevate content discovery and delivery to new heights, adapting it to the most suitable format and making video operations increasingly software defined. Virtually every conversation we had revolved around the pervasive use of AI throughout the media continuum, from generating reels and enhancing metadata to automating highlights, subtitle generation, and captioning.

Monetization takes precedence

Monetization has become the central focus of the industry, gaining renewed momentum. Traditional methods of revenue generation face numerous challenges, including saturated subscriber bases, increasing customer experience demands, and limited funding for advanced R&D. Therefore, it is imperative to explore innovative channels for content monetization.

Monetization is inherently linked to personalization, even venturing into the realm of hyper-personalization of services. With AI's growing capability to deliver highly personalized services, there is a heightened emphasis on harnessing AI for this purpose. Even in the Adtech sector, various process optimizations and deep learning-based context discovery empower AI to offer significant benefits by delivering personalized advertisements.

For broadcasters seeking to transform into hyper-broadcasters, the path forward involves innovative monetization strategies. This includes reimagining AVOD (Ad-Supported Video on Demand) and FAST (Free Ad-Supported Streaming TV) with the assistance of AI.

Not just 'near real-time,' but 'true real-time' AI performance is the need now

There is a significant surge in the adoption of AI for automated highlights generation, whether it's for sports, VOD, or linear content. The industry is transitioning towards software-based solutions for video operations, driven by the favourable economics of scale. Today's available computing infrastructure can deliver high-quality highlights or summaries in a matter of seconds.

This transformation is poised to revolutionize the delivery of bite-sized content at scale, paving the way for new avenues to monetize content.

Huge expectation from GenAI

Generative AI (GenAI), the 'new kid on the block', is a central topic of discussion. Almost every conversation delves into the array of possibilities it brings and the potential for disruption.

Over the next few years, GenAI is set to drive innovation. Industry leaders and implementers will explore novel solutions, from enhancing customer experiences to expediting product and service releases and dynamic content promotion. The prevailing sentiment is that GenAI will fuel creativity rather than displace jobs.

The Media & Entertainment industry, always seeking fresh tech and inspiration, welcomes GenAI with enthusiasm as a source of promise. With its 'generative' power, alongside the right attention and the application of suitable techniques, GenAI stands to transform the industry with innovative solutions.