AI to make India global creative powerhouse: Govt
MUMBAI: With effective use of Artificial Intelligence (AI), India is poised to emerge as a Global Creative Powerhouse and hub, according to a media report presented by Union Minister of State L Murugan at the World Audio-Visual Entertainment Summit (WAVES).
Media and entertainment companies can not only increase their revenue by at least 10% but also reduce the input cost by 15% with the use of AI, says the report named 'A Studio Called India' prepared by Ernst & Young.
Officials said AI is expected to add value to the growth story of the media and entertainment sector. 'The global media and entertainment (M&E) industry is undergoing a dramatic transformation, driven by the proliferation of AI. From content creation and curation to monetisation and distribution, AI is becoming an integral part of how stories are told and consumed,' reads the report.
India, already a powerhouse in content production and IT services, is uniquely poised to lead this transformation. The convergence of its deep talent pool, rapidly maturing AI ecosystem, and proven capabilities in media production positions India as a strategic node in the global AI-M&E value chain.
The report also noted that OTT platforms have started using AI to offer hyper-targeted content recommendations based on regional preferences, affluence, geo-targeting and consumption patterns.
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