The influence of Artificial Intelligence (AI) is becoming more evident and widespread in the entertainment sphere, where it’s mainly used to enhance the user experience.
In the business world, AI has been operating behind the scenes to improve the overall running of companies.
AI’s Influence Is Most Obvious in Entertainment
AI is already significantly impacting the entertainment industry, and this trend is set to continue. For example, companies like Netflix and Spotify use AI algorithms to analyse users’ history. This can then make suggestions based on the content that they think these people will most likely be interested in. As the streaming wars continue between the various companies, the platform that implements AI in the best way could end up being the most successful.
There are other ways that the entertainment experience can be enhanced by AI. It may soon combine with other forward-thinking technologies like virtual reality to deliver the most immersive entertainment offerings. According to GlobalData, the VR market is already worth $6.9 billion and it’s expected to grow at a CAGR of 25.1 per cent up to 2030.
AI could also have an impact on content creation in the entertainment industry. For example, AI technology can now be used to generate music, art, and even movies. This means that we may soon see a rise in AI-generated entertainment that is unlike anything we've seen before.
AI Will Boost Businesses from Behind the Scenes
AI is already being used in businesses in numerous ways, and its usage is set to increase in the future. For example, some businesses already employ AI in the generation of company names. Inputting keywords into business name generator tools like BNG can give business owners many options for a name that fits their business sector. The AI-powered offering applies the keywords to relevant industries, and it only takes a few clicks. Some examples of creative brand names that the system created include Foodgenix, Gasocity, and Workoutastic.
AI can also be used for mundane business tasks that were previously done by humans. It can automate tasks such as data input and cut business costs while increasing efficiency. AITHORITY says that businesses can save up to $35,000 per year using AI automation.
AI algorithms can also be used to analyse large amounts of data and extract previously hidden insights. They can even boost customer service. uberall has seen chatbots already being 'used in more than 80 per cent of customer service interactions', and bloggingwizard notes how 'marketing revenue from them will exceed $454.8 million by 2027', demonstrating the financial opportunity using AI can bring.
AI is leading to a new cultural revolution in entertainment and business. While the implications of AI are vast and complex, it is clear that AI will continue to have a profound impact on our lives in the coming years.
