target audience: TECH SUPPLIER Publication date: Dec 2022 - Document type: Market Perspective - Doc Document number: # US49840522
Media and Entertainment — How Companies Are Using AI in 2022
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Abstract
This IDC Market Perspective provides an update in the use of AI/ML technologies applied to products and services in applications for cloud-based production, distribution, and monetization. AI/ML enables system intelligence to accelerate smart decisioning, improve workflow efficiency and productivity, and facilitate content creation, metadata tagging, virtual production, and improved monetization.
Currently at only 25% adoption for the business cycle (production, distribution, and monetization) and 76% if you include business operations in media and entertainment (M&E) with many more use cases and applications yet to be discovered, the opportunities for AI/ML are endless.
"AI/ML through the enhancement of system intelligence and workflow improvements for production, distribution, and monetization processes provides significant cost and productivity savings that can be invested to create more higher-quality content," said Alex Holtz, research director, Worldwide Media, and Entertainment Digital Strategies at IDC. "This investment more than offsets the risks and is an important competitive advantage as broadcasters and media companies transition to cloud services."