Generative Artificial Intelligence (AI) now plays some kind of role in our lives and businesses. The adoption of AI in a plethora of fields is expected to increase by 2025, as per insights from Statista. The market for AI in marketing is expected to hit $107.5 billion by 2028. Of this about 33% of marketers are expected to AI use to generate ideas or inspiration for marketing content.
From the way entertainment is consumed to social media, AI is playing a prominent role in terms of understanding user behaviour and then using the same set of data to predict the creation of new kinds of content or a watch-list. In a conversation with FE TransformX, Ritu Bain, SVP Revenue, VideoVerse, talks about how Artificial Intelligence (AI) is changing the world of content creation. (Edited Excerpts)
How is the integration of AI transforming the way content is created, engaged with, and distributed across sectors? Could you highlight some noteworthy AI-driven advancements?
The groundbreaking influence of Artificial Intelligence (AI) is ingenious and innovative, offering creators optimisation, expedited turnaround, and cost-effectiveness while fostering their creative process. India has a thriving creator community which is growing at an impressive rate of over 115% annually, surpassing the global average. This underscores the immense potential for Indian creators to leverage AI effectively.
Content creation platforms can use AI to automate video editing, revolutionising content creation with unprecedented speed and precision. AI goes beyond personalising or tailoring social media feeds; it adeptly crafts engaging, contextual content that is not merely proficient but also redefines production, distribution and engagement. VideoVerse being a content creation platform, uses AI and Machine Learning (ML) to craft movie trailers and video highlights, employing technology such as OCR, Face and vision recognition, Large Language Models (LLMs) and NLP, among others, to create content that grasps audience attention.
How do AI-powered tools bolster video content creation, and what tangible effects do they have on brand visibility and audience engagement?
AI-powered tools can have the potential to aid broadcasters, influencers, and sports teams in creating content by enhancing efficiency and creativity. In terms of brand visibility, AI streamlines the processes by optimising metadata and thumbnails to increase search visibility. Additionally, AI-driven analytics provide insights into audience preferences, allowing for tailored content. It helps in viewer relatability and retention while also attracting a wider audience.
VideoVerse has also taken strides in the broadcast industry. Can you share insights into how AI is being used in enhancing audience engagement and content creation, especially during sporting events?
AI and sports can be a dynamic duo! AI isn’t just enhancing audience engagement; it’s creating an electrifying experience during sporting events, especially during the current Cricket World Cup. AI doesn’t just capture moments but also creates real-time highlights. As a result, viewers are glued to their screens. Apart from that AI can also predict moves and player strategies. It’s not just broadcasting; it’s also storytelling. Content creation during sporting events isn’t just about speed; it’s about creating stories that have people talking for days.
Video Verse will be working with leading sports federations such as the IPL, VBA, HK Rugby, and Fancode, among others. Our algorithms technologise real-time data analysis, allowing for instant highlights, statistics, and monetising content. Moreover, personalised content recommendations based on user behaviour ensure fans receive tailored updates. Additionally, AI-powered video analysis enhances post-game content, providing in-depth player statistics and highlight reels. This integration of AI not only elevates fan interaction but also transforms how sporting events are experienced and shared.
What are the other use cases of AI in sports, and how can they help transform the segment?
AI’s utility in sports transcends the confines of the field. Beyond enhancing audience engagement and content creation, AI offers a multitude of use cases to transform the sports segment. It empowers coaches and athletes with data-driven insights, analysing player performance, predicting injuries, and optimising training regimens. In sports analytics, AI dissects vast volumes of data to unveil hidden patterns, aiding in strategic decisions and player recruitment. Additionally, AI-driven computer vision systems are revolutionising officiating, providing real-time assistance in making accurate calls. These applications, along with many more, are poised to reshape the sports industry by making it more data-driven, efficient, and engaging.
What kind of collaboration do you see between e-sports and AI?
AI helps to generate highlights, zooms in on critical in-game moments, and provides real-time analysis, transforming esports into a visually captivating spectacle. We have a tool in our solution which measures the excitement and response level to a clip: ‘Hypescore’ allows you to maximise from within the highlights and moments you have created to get the highest engagement. The synergy between AI and esports creates an immersive and interactive viewing experience. As AI continues to evolve, we can expect esports live streaming to become even more engaging and inclusive, drawing a global audience into the world of gaming.