Hollywood veteran Jeffrey Katzenberg predicts a radical revolution in the cost and time required to make blockbuster animated movies, thanks to the advent of Artificial Intelligence (AI). He believes that AI will not only accelerate the digital transformation of the entertainment industry but also drastically reduce its current reliance on large teams of artists.
AI to slash animation production costs
Artificial Intelligence (AI) is set to play a game-changing role in the entertainment industry, especially in the creation of animated movies. Industry bigwig Jeffrey Katzenberg staunchly believes that AI has the potential to drastically cut down the cost of producing high-quality animated films. No longer would it take a small army of artists and several years to produce a world-class animated movie, as he predicts that AI could achieve the same results with just 10% of the current resources in the near future.
Fast-tracking digital transformation with AI
The digital transformation of the entertainment industry is set to gain momentum, thanks to AI. According to Katzenberg, the use of AI in the sector could speed up its digital transformation by a factor of ten. AI technologies not only have the potential to streamline the creation process of animated films but could also open up a wide array of possibilities for other aspects of media and entertainment, making it a key player in the industry's future.
Data misuse: The dark side of AI
While the potential of AI is promising, it's not without its risks. As the Cambridge Analytica scandal showed us, the misuse of data is a real concern. Industry veteran Kai-Fu Lee warns that the potential pitfalls of AI are more serious now than ever, with data harvesting being a major issue. It's crucial that regulations are applied wisely to prevent misuse while not stifling innovation.
The adoption of AI has led to a surge in machine learning models across various sectors, including agriculture. But this 'model inflation' is becoming a problem, as noted by Sara Menker, founder and CEO of GRO Intelligence. She points out that there are 2.9 million models just within her sector, indicating that the industry might be facing a challenge of having too many models and not enough clarity on their effective application.
The rapid adoption of AI is not without its social implications. As Bob Moritz, global chair of PwC, points out, the accelerated integration of AI in various sectors can lead to a big mismatch in the required skills. This rapid change can cause social problems, as the labor market struggles to re-engineer itself to accommodate the new technology. Therefore, balanced growth and apt training are necessary to avoid these social disparities.