Gen AI is reshaping the landscape of media and entertainment, ushering in a new era of personalized and immersive experiences. With the integration of Gen AI, content creation and curation processes are becoming more sophisticated, catering to individual preferences and enhancing user engagement. This technology is instrumental in optimizing content delivery, recommendation algorithms, and audience targeting, leading to a more dynamic and responsive media ecosystem. As the media and entertainment industry embraces Gen AI, it strives to deliver tailored content experiences, fostering audience satisfaction and loyalty. Explore the transformative impact of Gen AI on media and entertainment for personalized content delivery and enhanced user engagement.
EY’s research shows that Gen AI will impact the complete M&E value chain from the heart of the sector (content creation) to content management and engagement. It will thus enable a whole new paradigm of monetization opportunities. The survey points to the top three applications of Gen AI being Content Development (92%), Product Development/design (69%), and Customer Engagement (65%). In some of the spaces, we are seeing companies starting to leverage Gen AI already:
EY research forecasts Gen AI to drive over 10% revenue growth and a 15% efficiency increase, adding INR450 billion in value soon. Approximately half have implemented Gen AI, while the rest plan adoption within 12 months. Despite readiness concerns, India could gain disproportionately with swift expertise development, potentially generating a US$15-20 billion impact, rivaling the domestic M&E sector's size. Key areas include becoming a content processing hub and offering services for content compliance, addressing the challenges of global OTT platforms.
Hub for content processing
India can aim to become the behind-the-camera content processing hub for the world.
Content compliance
These services have been growing explosively along with the increasing popularity of user-generated content, proving an opportunity to build a services layer on top of all content produced globally, including in creation and moderation, scheduling and distribution, as well as monetization. To manage content that is being used increasingly across countries and languages due to the growth of global OTT platforms, the use of dubbing, sub[1]titling, multi-language search/ content discovery, multi-linguistic recommendation engines, etc., have become prevalent and will need significant efforts to create models and implement them at scale.
The fervor with which the M&E sector has adopted digital technologies earlier, and the excitement of Gen AI, has also resulted in concerns. So, while about two-thirds of the respondents believe that the productivity increase and amplification of existing workforce potential would impact the workforce positively, there is apprehension around the risks related to Gen AI. Hallucination and biased responses stand out as the most critical risks posed by Gen AI. About 95% of respondents believed that regulation of AI is required. Of these, half expected that regulation standards set by industry associations should be implemented to mitigate these risks. The Gen AI wave in India’s media sphere, though promising, brings forth myriad challenges.
Intellectual property debates rage, with questions about AI’s creative ownership and rights of human creators. Data protection, especially with India’s vast consumer base, becomes paramount. Balancing innovation with ethical considerations is crucial. While such fears are normal, given the capabilities demonstrated by Gen AI tools, it is far more likely, as our survey suggests, that rather than Gen AI supplanting humans, it will be ‘humans + Gen AI’ that will boost productivity, bring greater visual and audio magic, and help improve monetization of products and services. In conclusion, as India’s Media & Entertainment sector stands at the cusp of a Gen AI revolution, the journey ahead, while challenging, is replete with opportunities. With the right blend of policy, innovation, and ethical considerations, a new era of Indian storytelling beckons.
Discover more about the Generative AI in India - 'The AIdea of India: Generative AI's potential to accelerate India's digital transformation'
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