Technological Breakthroughs In The Media And Entertainment Industry
Content plays a major role in the media and entertainment industry in all the aspects, from concept development to figuring out consumer trends. Rapid advancement in Digitization is dramatically changing the way we create and view content. Improvements in smartphones, smart T.V's, advanced sound system and wireless devices have enabled people to create great entertainment content. The integration of Artificial Intelligence (AI), Machine Learning (ML), Cloud Computing, Blockchains, Augmented Reality and Virtual Reality and other such disruptive technology have further improved content delivery and completely revolutionized the media and entertainment industry.
The application of Virtual and Augmented Reality in the gaming industry has changed the entire notion of gaming. AR and VR combine elements from both
the real world and the virtual world to create an immersive reality. Pokémon Go is an excellent example of Augmented Reality in action, having millions of players from around the world. The award-winning novel and its subsequent movie Ready Player One perfectly demonstrate the nature of immersive reality gaming that is going to be prevalent in the near future. It is, however, only one of the technological trends that are going to shape the future of the media and entertainment industry. Machine Learning and AI are penetrating the media and entertainment industry ever so faster, with innovations in voice recognition technology that is altering the way people listen to music online. AI is making the creation of content significantly easier for publishers, businesses and online creators. AI can be quickly used to make ads specific to a particular group of consumers. Similarly, AI is utilized to provide automated subtitling and create short movie trailers as well. The behaviour of NPC characters in video gaming is an example of AI algorithms at work. Media and entertainment companies are utilizing Big Data technologies to predict and create content that the consumer is looking for, personalise it as per the preferences and optimized streaming to provide a complete user experience.
Technologies such as LED and OLED have improved the quality and lifespan of screens significantly. Screens have also shrunk in size from covering an entire room to TV screens to laptops, tablets, and smart-watches. Other hot technological trends in media include E-books and e-sports broadcasters. E-sports broadcasting channels have completely changed the viewer demographics, compelling mainstream broadcasting channels like Sky Sports and ESPN to come up with their own broadcasting channels online.
With consumer shifting towards multi-device, multi-platform channels coupled with the adoption of AI, ML, and Blockchain and Extended Reality technologies it is not only changing the way we consume content but also changing the very nature of the media and entertainment industry.