As an analyst with a background in media and technology, I strongly believe that artificial intelligence (AI) is not a threat to creatives but rather an opportunity for growth and innovation in the creative economy. While it’s true that AI can automate certain repetitive tasks, it frees up creators to focus on their core strengths – storytelling, innovating, inspiring, and exploring.
As a researcher studying the advancements in artificial intelligence (AI), I can’t help but be in awe of its unrelenting progress. Countless studies have explored the implications of AI on employment, with some predictions painting a grim picture of mass unemployment for white-collar workers and the potential demise of entire industries. However, as we reflect on the wisdom of Charles Darwin, it’s essential to remember that intelligence alone doesn’t guarantee survival. Instead, our ability to adapt and adapt swiftly to change is the key to thriving in an ever-evolving technological landscape.
As a crypto investor with an interest in the creative economy, I’ve noticed that the estimated value of this sector stands at a impressive $985 billion. However, the role of technology within it is not always portrayed positively. From my perspective, there’s a possibility that certain jobs might become obsolete. For instance, actors could be replaced by advanced AI models, while writing rooms could be taken over by large language models. Lastly, green screens may give way to generative AI tools for visual effects creation. While these shifts can be daunting, it’s important to remember that technology also opens up new opportunities and avenues for growth in the creative industry.
Another perspective to consider is that AI isn’t just limiting creative expression, but also enhancing it. It provides artists with innovative tools to expand their capabilities and breaks down financial barriers for budding talents lacking substantial resources. With the integration of blockchain technology, emerging economies are fostering direct interactions between creatives and newfound audiences, paving the way for thriving artistic communities.
In September 2021, Canva – an advanced graphic design platform driven by AI – shared intriguing findings from a comprehensive survey they conducted. Over 4,000 creative professionals representing nine major economies participated, revealing some astonishing insights. Why so? An astounding 75% of respondents categorized generative AI as indispensable for their work. Moreover, an impressive 97% of executives expressed no concern about the growing influence of this technology within their organizations. Visionary leaders recognize the immense potential that lies ahead.
AI as a force for good
A common creative workday involves logging each task completed with great detail. Many creatives would discover that a significant portion of their valuable time is consumed by tedious, repetitive jobs. Although essential, these tasks couldn’t be automated effectively before the advent of artificial intelligence (AI). Examples of such monotonous activities include creating schedules, sending emails, condensing reports, and researching storylines – all of which can now be efficiently handled by AI systems.
The advantages are truly remarkable and have the power to bring about significant change. Creators are now free to concentrate on their primary strengths: crafting stories, brainstorming new ideas, motivating audiences, and delving into unexplored territories. AI technologies act as helpful aides, managing routine tasks with minimal intervention. Rather than taking away income from diligent workers, this technology offers the opportunity for increased earnings by liberating their time and focus to generate items that consumers can purchase and appreciate.
Blockchain significantly enhances this innovative approach to work processes. Already, blockchain technology has been employed to digitize various assets such as music royalties and valuable artworks. Moreover, AI firms can significantly cut down service costs using blockchain and decentralized processing power. Furthermore, the demand pressures faced by tech manufacturing industries might be effectively addressed through the use of decentralized computing power incentivized via blockchain. As Jensen Huang, Nvidia’s founder and CEO, put it:
“The need for faster computing and artificial intelligence that generates solutions is rapidly increasing. This trend is being driven by businesses, sectors, and countries around the world.”
Leveling the playing field
As a crypto investor, I used to believe that creating high-quality content was an expensive endeavor only for the financially well-off. However, the advent of AI technology has drastically changed this landscape. Today, I can access advanced tools at affordable prices or even for free, making it possible for anyone to produce top-notch content regardless of their financial situation.
With the emergence of advanced text-to-video generators such as Sora, it’s now possible for individuals with creative ideas to easily bring their visions to reality. A recent study reveals that a significant number of American consumers are unable to distinguish between authentic videos and AI-generated clips.
With the costs of new AI technologies still undetermined, these innovations could revolutionize filmmaking for aspiring directors working on minimal budgets. For the first time, they’ll be able to produce visual effects and editing equal to Hollywood studios with just a few clicks. The financial risk of undertaking a project is significantly reduced as well.
Over the course of time, there will be a significant surge in the availability of high-quality content in the market. This trend is reminiscent of past developments. For instance, the emergence of streaming platforms such as Netflix didn’t lead to the demise of major film studios and broadcasting companies. Rather, it expanded the range of options for consumers who can now watch their preferred TV shows and movies on demand. In a similar vein, the advent of digital editing technology didn’t eliminate the need for film editors; instead, it replaced the time-consuming process of manual splicing and offered them more creative possibilities.
As a researcher studying the intersection of media and technology, I strongly believe that it’s high time we empower content creators, particularly those who have been historically underrepresented. The emergence of advanced AI tools offers an exciting opportunity for this sector to mirror our diverse society more accurately.
It’s noteworthy that companies like OpenAI are now pursuing collaborations with major Hollywood studios, given that the film industry has already integrated this technology into their post-production processes.
What does the future hold?
The rapid advancement of AI makes it challenging to foresee the future. Every week sees the emergence of new businesses adopting this technology, while its abilities continue to evolve at an astonishing rate each month.
There are indeed hurdles to overcome, particularly with respect to copyright protection and equipping creators with the necessary skills to utilize AI effectively. However, it’s essential not to focus solely on the potential drawbacks of artificial intelligence. Instead, we should explore how this technology can usher in a new era of creativity, empower artists, and captivate audiences.
The potential of AI, web3, and blockchain is barely being explored at present. These technologies are starting to garner attention from industries like Hollywood and Silicon Valley. For independent content creators, this is an opportune moment to seize the initiative. This technological shift isn’t just about changing work processes but also bringing about significant economic benefits for this sector.
Andrea Berry is a veteran online video strategist with over a decade and a half of experience in forming groundbreaking media collaborations. Her early achievements include playing a pivotal role in launching Qello Concerts, the pioneering direct-to-consumer live music streaming service, which she subsequently evolved into Qello Media Services and Vimeo’s OTT channels for various industries as their inaugural strategic sales director. Presently, at Theta Labs, Andrea utilizes her extensive knowledge of online video and blockchain to establish strategic partnerships and explore growth prospects for the company. She empowers enterprises to seize the potential offered by web3.
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2024-05-05 13:54