Even before the pandemic, it was predicted 82 percent of all content created would be on video. Then came 2020 and the pandemic accelerated the demand and shift of digital information, entertainment and conversation to video.
TikTok boasts about 100 million active users in the US alone. The average consumer globally subscribes to a minimum of two different streaming platforms. Instagram reels has Gen Z hooked.
Videos become inseparable part of daily consumption
A recent YouTube survey found that over 50 percent of people across generations could not live without video in their daily lives. A Google report suggests that through the uncertainty of the pandemic and lockdowns, 79 percent of US consumers found streaming content as a source of happiness and hope. Add to this the well-documented reduction in attention spans and the desire to consume information and entertainment in personalized smartly packaged nibbles.
For content creators, this evolving consumption pattern has opened up new challenges on how to produce engaging relatable content that empowers the viewer, provides entertainment as well as upskilling opportunities. And most importantly how to be the first to reach the viewer and become the platform of choice for their audiences.
AI, ML boost content production
Artificial Intelligence is poised to play the most significant role in addressing these challenges. The ability of AI-driven technology to sense, reason, act, learn and adapt makes it the most important tool in keeping up in the video race.
With Artificial Intelligence and Machine Learning it is possible to automate content management and reduce manpower costs, while also reduce the go-to-market time. Content makers are employing AI and ML-led technology to enrich efficiency and speed of content production.
Deep video analysis recognizes changes in scene, location or speech to deepen the content nomenclature and enable appropriate content tagging. Machine-powered content cataloguing and metadata tagging enables creation of automated work processes that reduce human error.
AI in facial and object recognition identifies objects and individuals with the highest level of accuracy while processing large amounts of data with significant variation. AI-led technology offers near real-time video assessment by learning from error patterns which bring unique efficacy in decreasing content release timelines. AI with supervised learning algorithms provides personalized recommendations with voice input and rich content metadata.
AI also enables real time creation of videos from large repositories of content that are optimised in terms of time and size to suit the formats required by different social media platforms without any human intervention.
All of this addresses the biggest challenges faced by content producers and enables them to increase viewership and platform loyalty by personalising their recommendations and time-optimising their content for different social platforms.
Artificial Intelligence and Machine Learning has an incredible influence on everything video. While AI and ML is hitherto uncharted terrain, it is undoubtedly armed with incomparable proficiencies that will decide the course video consumption will take in the future.
Content producers, whether these be traditional broadcasters or new age streaming platforms, need to up their game and employ AI-enabled platforms to provide real time solutions that not only speed up accurate content editing and the creation of new monetizable assets but also deliver efficiencies in workflow management, manpower cost reduction and time and size optimised assets that will keep them relevant in our fast-evolving video consumption world.
(Vinayak Shrivastav Co-founder and CEO of Toch.ai.-cloud agnostic platform)