The rise of artificial intelligence (AI) software is already having a profound impact on media companies, and it has the potential to unleash a new era of creativity. In recent times, international media companies have begun to view AI not as a threat, but as their best hope for survival. Any business with a struggling model should be exploring how AI can help turn things around. However, employees are also feeling uncertain about the rise of AI and its potential to replace them.
Every technological advancement brings winners and losers, and the impact of AI on the media industry could be even greater than previous disruptions. This is because of the significant decrease in the cost of producing media that can be achieved through AI.
Media companies are actively investing in AI, whether they are traditional publishers, Hollywood studios, or streaming platforms. For example, News Corp, owned by Rupert Murdoch, recently announced a 75% annual decline in profit and their intention to rely more on AI-generated content to cut costs. Other companies, such as Mediahuis and Disney, are also experimenting with AI to streamline their operations.
Despite the potential for job losses, many companies see AI as an opportunity to create efficiencies and generate new revenue streams. Netflix, a successful pioneer in the streaming business, is heavily investing in AI talent, while other companies like Warner Brothers Discovery and NBC Universal have started AI accelerator programs.
As an AI engineer working for a San Francisco-based startup that creates AI models for generating images, I’ve witnessed firsthand the rapid pace of technological advancement. AI technology has progressed immensely in the past year, with AI-generated images now indistinguishable from real photos. The next frontier is AI-generated video, which could revolutionize the production process and significantly reduce costs for big studios.
The media landscape is becoming divided, with large companies embracing the potential of AI while workers remain skeptical. Journalists fear being replaced by AI bots, and actors are already going on strike to protect their livelihoods. However, I believe that AI could actually shift the balance of power in favor of creatives. As the cost of producing media decreases, creatives will be less reliant on traditional gatekeepers like big studios, potentially leading to a new golden age of creativity.
Of course, not everyone will benefit from these changes. Support roles on sets may become less in demand unless those workers can adapt to the AI-driven industry. However, AI also has the power to democratize visual storytelling and enable individuals to capture and tell their own stories in new and innovative ways.
While the rise of AI can be unsettling, technology and innovation have always caused concern. As Douglas Adams once wrote, “Anything invented after you’re 35 is against the natural order of things.” But for younger generations, like myself, who have grown up with the internet, AI is simply a natural part of the world we live in. It is likely that future generations will feel the same way about AI as we do now.
In conclusion, AI is already reshaping the media industry and has the potential to usher in a new era of creativity. While there may be challenges and job losses along the way, embracing AI can lead to greater efficiencies, cost reduction, and innovative storytelling opportunities. The key is for media companies and workers to adapt and find ways to leverage AI to their advantage.
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