Global spending on artificial intelligence (AI) will likely exceed THB 1.5 trillion (US$46 billion) in 2020, according to the IDC, a market intelligence corporation. The prediction comes a year after IDC reported that Thailand had the second highest number of organisations adopting AI among Southeast Asian countries.
This piece is based on the article posted in The Nation by Phil Eade, Senior Director, Media Platform Business Development, APJ of Ooyala.
According to a recent report, Artificial Intelligence (AI) has been adopted by the Ministry of Information and Communication Technology to implement services and tools that facilitate information sharing and collaboration, along with supporting decision-making and problem-solving.
These initiatives have increased efficiency and brought about more personalised services for Thais.
While AI has been widely employed across industries, there remain many opportunities to be exploited by Thailand’s $14-billion media and entertainment industry. Broadcasters and media firms in Thailand face efficiency challenges in terms of delivering relevant and personalised content to consumers.
Drawing on the large amount of data generated from the consumption of videos, AI could improve the management and delivery of content as well as automate operations. Beyond that, AI could deliver better insights to help media executives make informed decisions and develop sound strategies for their business.
Three things AI could do for content production
1. Make worthy content
Content producers are in a race to make original and creative content that appeals to consumers. More often than not, this process requires an extensive review of past content to gauge viewers’ interest and avoid duplication of content.
AI makes it easier for the publisher or broadcaster to understand the specific preference and behaviour of consumers by leveraging machine learning.
For instance, if user X watches video A then clicks to watch video B, we can infer that the likelihood of user Y also wanting to watch video B is high if they had also watched video A.
These patterns feed into a powerful neural network of decision-making that content producers could rely on to create personalised content for consumers.
Couple this with an AI-powered in-depth calculation, which tells content makers the type of content they should prioritise and focus their production spending on. A decision-maker would be more empowered to make a calculated decision rather than relying on intuition or superficial assessment.
2. Give content a re-birth
As a lot of money is being spent on producing a piece of content, the ability to make the most out of it is key. The localisation of the content to cater to each market’s needs and relevance is one way – and AI could help speed up the process.
Tech giants have AI tools that make it easier to transcribe or translate audio into other languages so that you can sell your content to new markets.
Leveraging existing content is another way to profit. We can almost always hear the same pain point from broadcasters or publishers who argue that they don’t even know what they have in their archives at this point.
Locating, let alone monetising, relevant footage to supplement a news bulletin or a documentary often becomes a huge challenge for content companies as they sift through the vast amounts of video assets that sit in their archives.
With AI, media organisations can index existing content with powerful metadata capture techniques, enabling them to easily identify and repurpose that archived content.
3. Monitor live events
Live events often comprise many moving parts; if one thing goes wrong, it could cripple the entire event. That also means that monitoring a live event or troubleshooting issues is typically performed in silos, leaving media organisations in a fix as they try to accurately pinpoint and resolve issues.
Thus, AI could watch out for unexpected spikes in viewership during the live broadcast and alert companies immediately to add server capacity and prevent the event from crashing. This gives production companies the opportunity to monitor and troubleshoot more quickly and efficiently, sometimes even before they happen.
Never too late for AI
The benefits of AI are exciting. Streamlined workflows, increased efficiencies, and improved monetisation are all potentials that could very well be fulfilled.
Additionally, with Thailand becoming an increasingly mobile population, only media companies able to deliver content in various modes and formats in a timely manner will gain.
However, AI is still in its nascent stage and still ramping up across sectors. While it will in the foreseeable future become more advanced and integral in our tasks, that does not mean that human participation would be forfeited. Ultimately, AI should play the role of a work-partner able to give insightful answers, but it will still be up to humans to make the right decision.
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