The use of Artificial Intelligence is constant and ever-evolving in every sector of life. As we are rapidly shifting to a digitised world, there is a rise of AI in the media and entertainment sector as well. According to research, the spending on artificial intelligence in the media and entertainment industry is expected to increase to US$1.86 by 2025.
While a number of sci-fi movies include AI, media professionals have today understood the importance of AI and how it can help enhance productivity by automating repetitive tasks. AI-based automation can assist the content creators and entertainers spend more time in delivering engaging content.
AI transforms this sector and impacts everything from content creation to the consumer experience. With content supply chains to automate operations, drive decision-making, and personalise the consumer experience, these companies can leverage the use of AI. When it comes to distribution, AI can personalise the consumer experience, driving title recommendations, and curating content based on consumer preferences.
Apart from this, chatbots in the media and entertainment industry help improve the entertainment experiences, enable companies to communicate with their audience at a greater scale, and also offer hassle-free browsing.
While AI affects various areas in this industry, here are a few points that talk about the benefits of AI in certain areas:
A number of content pieces are created every minute and classifying these items based on videos and identifying objects, scenes, or locations in the video to classify and add tags can be extremely time-consuming and tough for media companies. In such cases, AI is highly effective for metadata tagging and extraction. With the help of techniques such as image recognition and speech-to-text transcription, metadata tagging is the most widespread application of AI.
Real-time streaming is useful for the broadcaster/transmitter and the customer. AI helps in real-time customisation, packaging, and transmission of content, enriching the viewers’ experience.
Predictive analysis helps in altering content, marketing plans, offerings, and distribution windows. It can also be used to deliver the right content to viewers based on their preferences or “learn” what users want to watch and recommend similar content and identify which content drives earnings.
Keeping these points in mind, AI is also extremely beneficial for companies to deal with mundane tasks that are time-consuming and prone to error such as the media distributor invoice process and media ID generation process.
Bots significantly help in media distributor invoice processing as bots can select vendor invoices based on register master and can segregate them into a folder with a vendor name, then populate a summary excel sheet for each vendor, they can zip the entire folder that contains invoices and summary reports for each vendor, and also find relevant email ids from the master excel and emails the ZIP file to the respective vendor.
Following are a few benefits of implementing automation in the media distributor Invoice process:
• A single bot performs the task which earlier used to engage a team of 8 people or more
• The entire invoicing process is completed in one day, which earlier used to take around 10 days
• Achieves efficient invoice processing and reduces payment cycle duration
• Automating process accelerates the invoice processing and gains financial control and visibility
With the help of AI, media ID creation can be automated with a BOT, real-time allocation through emails, a mechanism for providing accurate tracking, and much more
Benefits of implementing automation in the media ID generation process
• Reduces human/ manual error
• The total processing time is reduced by 80%
• Creates end to end process automation
• Helps the industry to achieve goals such as lower production costs and reduce the time for operations management amongst the many others
AI by its very nature is a powerful force that can either be used to revolutionise the entertainment industry, but if not utilised correctly it is the very force that could have a detrimental effect. With a number of pros, the impact AI can have in this industry will assure it into an unfathomable age of progress
- Collotech, An Intelligent Process Automation Solutions Provider