Nelson Granados Shares Insights on the AI Revolution: Transforming the Media and Entertainment Economy in Forbes
The media and entertainment industry has experienced significant disruptions since the 1990s, beginning with the internet revolution that transformed content distribution and evolving into the streaming era. Now, a third wave of disruption driven by artificial intelligence (AI) is reshaping the landscape. Pepperdine Graziadio faculty member and Executive Director of Graziadio School’s Institute for Entertainment, Media, and Sports, Nelson Granados shared his insights in Forbes.
At the 2024 Entertainment Evolution Symposium, held in Los Angeles in May, industry experts and academics convened to explore AI's transformative potential. The event, a collaboration between the Hollywood IT Society (HITS) and Pepperdine Graziadio Business School, highlighted AI's potential to revolutionize the media and entertainment industry, paving the way for a new era of efficiency, creativity, and profitability.
AI is poised to streamline workflows, as emphasized by Box co-founder Aaron Levie. He noted that AI can accurately index film assets, reducing the time spent on digital file management and speeding up the transition from contract to invoice. Additionally, AI can improve creative processes. A session by VFX company ICVR demonstrated that generative AI can expedite pre-visualization, drastically cutting down production time.
The symposium also showcased Flawless AI's TrueSync tool, which uses AI for seamless dubbing and dialogue changes, enhancing the quality of content across languages. These advancements highlight AI's potential to make production processes faster and more efficient, while also improving the final product.
As AI continues to evolve, it offers solutions to declining revenues and the challenges of new business models in the streaming era. By enabling efficient production and innovative content creation, AI is set to drive the next phase of growth in the media and entertainment industry.
For a deeper dive into the discussions and insights from the symposium, read Nelson Granados' detailed coverage on Forbes, where he covers digital trends in travel, media, and entertainment.
To stay up to date on future events and entertainment news, visit the Pepperdine Graziadio Business School’s Institute for Entertainment, Media, and Sports website.