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AI Market in Media & Entertainment to Grow by USD 30.72 Billion (2024-2028) as Multimodal AI Adoption Rises; AI Impact on Market Trends Report – Technavio

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NEW YORK, Oct. 31, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global AI market in media and entertainment industry size is estimated to grow by USD 30.72 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  26.4% during the forecast period. Usage of multimodal AI in media and entertainment industry is driving market growth, with a trend towards utilization of blockchain. However, reliance on external sources of data to train ai models poses a challenge.Key market players include Agile Sports Technologies Inc., Amazon Web Services Inc., Autodesk Inc., AutomaticTV, EVS Broadcast Equipment S.A., Gravity Media, GrayMeta, Inc, International Business Machines Corp., LMG LLC, Move Ai Ltd, Pixellot, PlaySight Interactive Ltd., Production Resource Group LLC, Spiideo, Sportway AB, Synthesia Ltd., TAIT, valossa labs Oy, and Veritone Inc.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Technology (Machine learning, Computer vision, and Speech recognition), End-user (Media companies, Gaming industry, Advertising agencies, and Film production houses), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Agile Sports Technologies Inc., Amazon Web Services Inc., Autodesk Inc., AutomaticTV, EVS Broadcast Equipment S.A., Gravity Media, GrayMeta, Inc, International Business Machines Corp., LMG LLC, Move Ai Ltd, Pixellot, PlaySight Interactive Ltd., Production Resource Group LLC, Spiideo, Sportway AB, Synthesia Ltd., TAIT, valossa labs Oy, and Veritone Inc

Key Market Trends Fueling Growth

The integration of blockchain technology in the global AI market of media and entertainment industry is experiencing substantial growth. Driven by the necessity for heightened security and content authenticity, this sector is leveraging blockchain’s decentralized and immutable features. Notably, SHIB, an Ethereum-based digital asset family, collaborated in April 2024 to address content security and authenticity concerns using blockchain technology. This partnership aims to secure content from tampering and ensure its veracity. Blockchain technology also presents innovative distribution solutions. Its transparent and traceable transactions streamline the process, ensuring fair compensation for creators and secure content delivery. In an era plagued by digital piracy and unauthorized distribution, this is particularly significant. Moreover, blockchain facilitates new business models and revenue streams, such as content tokenization. This enables creators to issue digital tokens representing ownership or access rights, opening new monetization avenues. The media and entertainment industry’s collaboration with the digital asset ecosystem underscores its proactive approach to adopting blockchain technology. This adoption promises enhanced security, streamlined distribution, and innovative business opportunities, contributing to the industry’s growth and sustainability in the digital age. 

Artificial Intelligence (AI) is revolutionizing the Media and Entertainment Industry. In Film and Television, AI is used for script analysis, storyboarding, and budget management. AI-powered image recognition identifies objects and people in high-resolution camera footage for VFX and virtual creation. Social media platforms leverage AI for predictive analytics and talent discovery. In Music, AI assists with plagiarism detection and content creation. AI’s dialogue skills and speech recognition enhance voice recognition and game play. Sports broadcasts use AI for real-time virtual analysis and fan engagement. Unstructured data and machine learning enable AI to provide fake story recognition and production planning. AI’s natural language processing enhances on-demand streaming services and improves content creation workflows. Overall, AI’s impact on the Media and Entertainment Industry is significant, from content creation to fan engagement, and will continue to shape the future of this dynamic industry. 

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Market Challenges

The global AI market in media and entertainment industry faces a significant challenge with the reliance on external data sources for training AI models. This issue came to light in November 2023 when a major American media organization filed a lawsuit against leading AI technology companies for unauthorized use of copyrighted content. The lawsuit highlights the growing tension over the exploitation of intellectual property without compensation or acknowledgement. The core challenge lies in the use of vast amounts of published material, such as articles and written works, to develop and refine AI models. These models, which power popular AI platforms, often utilize data scraped from various sources without explicit permission from content creators. This practice raises ethical and legal concerns, leading to an increase in copyright infringement claims. The implications of this reliance on external data sources are far-reaching. It poses a risk of substantial financial penalties and reputational damage for companies involved. Moreover, the accuracy and trustworthiness of AI-generated content can be compromised when models are trained on unauthorized or unverified data. In the media and entertainment industry, where authentic and reliable content is crucial, this issue is particularly problematic. To address this challenge, a balanced approach is necessary. Clear guidelines and ethical standards for data usage are essential to mitigate legal risks and ensure the integrity of AI-driven content. Respecting intellectual property rights while fostering innovation is crucial for the global AI market in media and entertainment industry.

Artificial Intelligence (AI) is revolutionizing the Media and Entertainment Industry with its ability to provide advanced solutions for various applications. Challenges such as Visual Recognition, Sentiment Analysis, Personality Insights, Tone Analysis, and Sports Analysis are being addressed by AI Algorithms. Hardware/Equipment for AI-Specific solutions are being developed for Live Broadcast, Gaming, and Sports Automatic Productions. AI is also transforming Video Production, Computer-Generated Graphics, and Visual Effects. Sales and Marketing teams use AI for Audience Insights, Voice Data, and Intelligent Home Assistants. OTT Platforms and Online Gaming Experience are enhanced with AI-Generated Live Footage and Hyper-Personalized Content. Pre-Production Assistance, Motion Capture, and Automated Sports Productions are other areas where AI technologies like ML are making a significant impact. Streaming Platforms, Connected Devices, and Real-Time Virtual Worlds are also being transformed by AI. AI is changing the game in Media and Entertainment, from content creation to consumption.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This ai market in media and entertainment industry report extensively covers market segmentation by

Technology 1.1 Machine learning1.2 Computer vision1.3 Speech recognitionEnd-user 2.1 Media companies2.2 Gaming industry2.3 Advertising agencies2.4 Film production housesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Machine learning-  The media and entertainment industry is leveraging artificial intelligence (AI) to enhance content creation, distribution, and consumer experience. AI-powered tools improve efficiency in video editing, special effects, and scriptwriting. Streaming platforms use AI algorithms for personalized content recommendations based on user preferences. AI chatbots provide customer support, reducing response time and improving user engagement. AI’s ability to analyze data and learn patterns benefits marketing strategies, audience targeting, and content monetization. Overall, AI is a valuable asset in the media and entertainment industry, driving innovation and growth.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

Artificial Intelligence (AI) and Machine Learning (ML) are revolutionizing the Media and Entertainment industry. In gaming, AI is used for gameplay, creating realistic opponents, and enhancing the user experience. Fake story recognition and plagiarism detection are essential for maintaining the integrity of content in the industry. AI and ML also play a significant role in production planning, optimizing workflows, and reducing costs. Talent discovery and scouting are now more efficient with AI-powered tools. Virtual creation allows for the production of high-definition graphics and real-time virtual worlds, enhancing the viewing experience. AI-generated live footage and sports analysis provide new opportunities for OTT platforms and online gaming experiences. Social media platforms use AI for content recommendation and natural language processing. The future of Media and Entertainment is AI-driven, offering endless possibilities for innovation.

Market Research Overview

Artificial Intelligence (AI) is revolutionizing the Media and Entertainment Industry with its advanced capabilities. AI technologies such as Machine Learning (ML), Natural Language Processing (NLP), and Deep Learning are being used in various applications. In the gaming industry, AI algorithms are used for gameplay, fake story recognition, plagiarism detection, and talent discovery. AI is also used in virtual creation, high-definition graphics, real-time virtual worlds, and sports analysis. OTT platforms and streaming services are utilizing AI for personalized content recommendations, audience insights, and voice data. AI-generated live footage, hyper-personalized content, and predictive analytics are transforming film and television production. In the music industry, AI is used for script analysis, storyboarding, and budget management. AI-specific hardware and computer-generated visuals are enhancing the online gaming experience. AI is also being used in sales and marketing, automated sports productions, and live streaming. The use of AI in the media and entertainment industry is expanding, from pre-production assistance to post-production, and from content creation to distribution.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyMachine LearningComputer VisionSpeech RecognitionEnd-userMedia CompaniesGaming IndustryAdvertising AgenciesFilm Production HousesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Global Times: Species thriving thanks to policy, consensus in China

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BEIJING, Oct. 31, 2024 /PRNewswire/ — Under the global framework for biodiversity, more wildlife species are increasing in number and enjoying a better space for living and breeding in China with the help of advanced technology and more popular caring, according to the Chinese delegation from diverse institutes and organizations at the 16th meeting of the Conference of the Parties (COP16) to the Convention on Biological Diversity that is being held in Cali, Colombia.

A prolonged whistle resonated through the sky, prompting visitors to lift their cameras in anticipation of capturing the migratory birds that were arriving. In recent years, tens of thousands of migratory birds such as cormorants fly each autumn to Shenzhen, a subtropical metropolis in South China, making the city one of the most important stops for these birds in the Eastern Hemisphere.

Their numbers are still increasing as the local environment improves. Environmental conservation organizations, including the Mangrove Conservation Foundation (MCF), see the growing population of migratory birds as a signal that urban biodiversity in China is heading in the right direction. 

Only around a few meters away from visitors, a black-faced spoonbill heads down in search of food over the wetlands at the Futian Mangrove National Nature Reserve alongside dozens of its brethren. Meanwhile, in the Futian Mangrove Ecological Park, an Eurasian otter, a species that disappeared from the Shenzhen Bay for nearly 20 years, has re-emerged.  

Chen Yudong, a staff member with the Mangrove Conservation Foundation who focuses on the protection and biodiversity of wetlands, told the Global Times that the Futian Mangrove Ecological Park is currently home to five species listed as National Key Protected Wildlife, including the Eastern imperial eagle, the black-faced spoonbill, and the small Indian civet. 

Additionally, the park has 39 nationally protected wildlife species at the second level (including birds, mammals, and reptiles). From 2015 to 2023, the number of insect species had risen from 109 to 1,224, while bird species had increased from 83 to 220.  

To maintain and improve biodiversity in metropolises like Shenzhen, Chinese environmentalists are exploring the effective application of emerging technologies and analytical methods in biodiversity monitoring, such as bioacoustics, weather radar data, and artificial intelligence, according to Insights for Cities on Biodiversity, an initiative focusing on how to sustain urban biodiversity, published in Shenzhen in September. 

For instance, during the migratory season, weather radar is being promoted to analyze and predict the flight paths of bird flocks, informing the implementation of lighting management strategies. This technology can help reduce accidents involving birds colliding with tall buildings or windows, particularly at night.

The delegation of the conservation foundation brought the initiative to COP16 and shared China’s experience with people who are concerned about how global biodiversity is being impacted by the continuously expanding urban areas around the world. 

Chen said that these projects and technologies are all aimed at speeding up achieving the global target set for 2030 and beyond to safeguard and sustainably use biodiversity, which was clarified in the framework, also known as the Kunming-Montreal Global Biodiversity Framework adopted at the COP15 during the Chinese presidency.

Shenzhen is not the only city that protects wetlands and preserves an international channel for migratory birds. Black-faced spoonbills have also been observed in the wetlands in East China’s Zhejiang and Fujian provinces and South China’s Guangxi.

Li Cheng, founder of the Xizijiang Ecological Conservation Center, has also been encouraged and guided by the biodiversity framework. 

“Since the COP15 was held in Kunming, I have felt the growing emphasis on ecological and biological protection from the public and authorities. More people are aware of the importance of sustaining the populations of each species on the Earth through public outreach programs,” Li told the Global Times, noting growing social consensus on biodiversity conservation seen in his daily work.

The infrared cameras set up by Li’s patrol team around the Wuqinzhang Mountain in Guangdong have recently captured additional pangolin movements, further bolstering Li’s confidence that the population of these endangered creatures is increasing.

Li still remembers the excitement he felt when one infrared camera first captured a pangolin at the end of 2018 and the night when he and colleagues repeatedly checked the pangolin’s photo multiple times. 

Chinese pangolins were assessed as “critically endangered” by the IUCN Red List of Endangered Species in 2019 and was even thought to be functionally extinct at the time of its assessment.

Now more and more people, including local villagers who have joined the patrol team, have begun to devote their lives to protecting pangolins. To improve the efficiency of their conservation efforts, Li noted that in addition to infrared cameras, a mobile application especially developed for patrol personnel has been put into use. The app is constantly updated with real-time information on the pangolins, thereby informing those on patrol of urgent situations.

“We have begun to shift our priorities and are more focused on restoring the pangolins’ habitat and making more creative use of conservation technologies,” Li noted.

View original content:https://www.prnewswire.com/news-releases/global-times-species-thriving-thanks-to-policy-consensus-in-china-302293621.html

SOURCE Global Times

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Shandong Jining: Achieve full coverage of green power and green certificate services

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JINING, China, Nov. 1, 2024 /PRNewswire/ — State Grid Jining Power Supply Co. and Jining City Energy Bureau have recently established a green power green certificate service centre, with 14 county-level green power green certificate service stations already operational. This is the first instance in the province of a municipal power supply company achieving comprehensive green power green certificate service coverage.

State Grid Jining Power Supply Company attaches great importance to the green power ‘green certificate’ market-oriented trading services. By inviting experts from Shandong Power Trading Centre to give lectures and guidance, preparing green power green certificate publicity materials, news releases, short videos, business window publicity, customer visits and other channels, it promotes green power consumption by market players.

The establishment of the Jining Green Power Green Certificate Service Centre represents a significant step forward in the promotion of Green Power and the energy consumption revolution in Jining. The Jining Green Power Green Certificate Service Centre is dedicated to offering comprehensive green power green certificate services to a broad customer base. These include policy consultation, bill interpretation, transaction assistance and other services. The aim is to enhance understanding of green power green certificate policy among enterprises, facilitate active participation in green power green certificate transactions and drive the growth of green power consumption and the green certificate transaction market. This will inject new vitality into the local economy’s low-carbon transformation and green development.

The next step for State Grid Jining Power Supply Company is to leverage the establishment of the Green Power Green Certificate Service Centre to capitalise on its own strengths, facilitate collaboration with all relevant parties, and act as a conduit for communication between the government, enterprises, and power trading institutions. This will help to drive the development of a robust green power market system in Jining City.

View original content:https://www.prnewswire.com/apac/news-releases/shandong-jining-achieve-full-coverage-of-green-power-and-green-certificate-services-302293622.html

SOURCE State Grid Jining Power Supply Company

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TOYOTA MOBILITY SERVICES CO., LTD. Debuts Clear Displays with Built-in Translation Features to Assist Foreign Visitors

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TOKYO, Nov. 1, 2024 /PRNewswire/ — TOYOTA MOBILITY SERVICES CO., LTD. (TMS) announced today that it will introduce the VoiceBiz®UCDisplay® color version, a transparent display with translation capabilities developed by TOPPAN Corporation. This marks the first use of the technology in Japan, aiming to meet the growing demand for rental cars among inbound foreign visitors. This new display is scheduled for release this fall at three rental car locations in Tokyo.

In recent years, the demand for rental cars has grown rapidly with the rise in inbound tourism. However, rental car locations have struggled to manage vehicle rentals and inquiries across multiple languages effectively.

To address these challenges, TMS is introducing a translation-enabled transparent display to facilitate accurate and timely communication, aiming to provide smooth, comfortable, and high-quality services.

About the “VoiceBiz® UCDisplay®” Clear Interface with Translation Features – Enhanced Color Model

The VoiceBiz®UCDisplay® is a transparent display with translation capabilities in up to 13 languages developed by TOPPAN Corporations. It enables seamless multilingual communication by automatically translating spoken or typed input into the recipient’s language and showing it on the screen. Both voice and keyboard input are available, allowing effective communication with individuals who are hard of hearing or have speech difficulties.

The system incorporates the latest translation algorithms and language models, with features to register proper nouns and pre-set phrases to improve translation accuracy.

When not in use for translation, the display serves as digital signage, providing various types of information. The enhanced color model, launching this fall, offers much better text visibility than the previous monochrome version. Additionally, the improved frame design makes the display easier to move and reposition.

The system supports 13 languages, including Japanese (keyboard input), English, Korean, Thai, Simplified Chinese, Traditional Chinese, Indonesian, Vietnamese, French, Spanish, Portuguese, Burmese, and Tagalog.

Key Benefits of the New Model

1. Enhanced hospitality

Smooth service ensures customers feel comfortable by receiving assistance in their native language.
Friendly service is achieved by interacting with customers at their eye level, enhancing satisfaction.

2. Quicker response time

Accurate and fast translation reduces the time required to rent or deliver a vehicle.

3. Reduced workload

The system eases the workload often placed on staff with advanced English skills, promoting a more balanced distribution of tasks.

4. Prevention of infectious diseases

Provides effective protection for both customers and staff against infections.
The transparent display provides a non-contact communication tool for improved health safety.

*In July 2024, TMS conducted a demonstration of this display at its Haneda Airport (International Flights) Shops and other locations. The test received positive feedback from customers, confirming the benefits outlined above.

“Information Regarding the Store Where the Equipment Has Been Installed”

1. Haneda Airport (International Flights) Shop 1-15-11 Haneda, Ota-ku, Tokyo 

2. Shinjuku 3-chome Station Shop 4-2-18 Shinjuku, Shinjuku-ku, Tokyo 

3. Azumabashi Shop 3-8-2 Azumabashi, Sumida-ku, Tokyo 

Looking ahead, TMS will further strengthen multilingual support by expanding the use of the VoiceBiz®UCDisplay® and other initiatives. Through these efforts and the development of new services, TMS aims to continually enhance customer satisfaction.

 

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SOURCE TOYOTA MOBILITY SERVICES CO., LTD.

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