AI to Revolutionize Media: 85% Predict Significant Impact
Artificial Intelligence (AI) is set to revolutionise the media and broadcasting industry, with 85% of respondents believing it will have a significant impact. A majority of technology buyers view AI as assisting humans rather than replacing them, with 69% seeing it as freeing people from routine work.
AI's biggest impact is expected in transforming business economics and automating production of clips and highlights, with 44% of buyers expecting this. Many broadcasters already use AI in 'back office' processes. Companies like TwelveLabs, Wonder Dynamics, and Firemind are driving AI in the industry, focusing on AI-powered storytelling tools, 3D character animation, and advanced video search.
AI is also expected to replace routine operational tasks, with 61% of both buyers and vendors agreeing. However, lack of AI expertise is a barrier to adoption, cited by 43% of technology buyers. Most respondents look to existing media tech vendors to embed AI functions in their products, with 73% favouring this approach.
AI's potential in the media and broadcasting industry is vast, with most companies viewing its adoption positively. Its impact on business economics and automated production is expected to be significant. While challenges like lack of expertise exist, the industry is poised for transformation, with AI set to free people from routine tasks and drive innovation.
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