HITS Spring: Veritone Execs Talk Upcoming Onslaught of AI Solutions

UNIVERSAL CITY, Calif. — During a standing-room only breakout session May 17 during the annual HITS Spring: The Hollywood Innovation & Technology Summit, Daniel Wong asked the crowd if anyone had already integrated AI into their media and entertainment workflows.

Only one hand went up.

Wong, the director of product marketing for Veritone, then asked who in attendance was interested in adding AI into their day-to-day operations? Almost every hand went up.

“AI is no longer a buzz word, it’s becoming a reality,” Wong said during the presentation “Understanding AI & Why Should You Care.” Studios, OTT service providers, broadcasters … every corner of the entertainment industry is examining the potential of AI, from sentiment analysis, to face recognition, to flawless transcription.

“We’re seeing [AI] that can predict and predict better than humans,” said Peter Nguyen, VP of product and AI development for Veritone. “We’re seeing [AI with] a close approximation to how humans actually think.”

And using those technologies to utilize data for smarter content management, create new content discovery tools, mine more comprehensive analytics, detect everything from logos to the feelings of actors on screen, all are powerful AI tools, and just in their infancy.

Allen Kim, head of ecosystems for Veritone, said that part of what’s driving AI technology’s growth is the sheer number of start-ups appearing in the space. He estimates that hundreds of millions of dollars are invested in AI-relevant start-ups every week.

“Every day we’re seeing this incremental lift, and fueling that is investment,” he said. “It’s an arms race, and we’re in the early days in terms of the AI technology market.”

Nguyen said Veritone is used to its customers being hesitant about AI and its implications. But AI technology — and how it works — isn’t an all-or-nothing game, he added. “You can spread out your investment across multiple AI engines now,” he said. “That means increased performance.”

HITS Spring was produced by the Media & Entertainment Services Alliance (MESA) and the Hollywood IT Society (HITS), in association with Women in Technology: Hollywood (WiTH); the Content Delivery & Security Association (CDSA) and the Smart Content Council. The event is being presented by Entertainment Partners, with sponsorship by Expert System, LiveTiles, Microsoft Azure, Ooyala, Veritone, Amazon Web Services, Avanade, Avid, IBM Security, MarkLogic, Aspera, Light Point Security, MicroStrategy, SAS, Scaeva Technologies, Western Digital, Brainstorm, Zaszou IT Consulting and Bob Gold & Associates.

To hear the Veritone presentation, click here.