New Report from Futuresource and InterDigital Details Myriad Complexities and Opportunities for AI/ML in Video Entertainment

Rhea-AI Summary

InterDigital has released a report detailing the impact of AI and ML in the video entertainment industry, valued at approximately $84 billion. The report discusses how AI can enhance operations across the video supply chain, improving efficiency and reducing costs. It highlights AI's potential in video encoding and streaming technologies, including the upcoming role of machine learning in developing advanced encoding mechanisms. The report emphasizes the need to understand both the capabilities and limitations of these technologies for future applications in the industry.

Positive

• AI and ML can enhance efficiency in the video supply chain.
• Potential for significant cost reductions with AI adoption.
• AI's evolving capabilities may support advanced video coding mechanisms.

Negative

• Complexity in encoding operations makes traditional tools more efficient than AI-based alternatives.

Report details AI/ML benefits to complex encode and decode and vital operations across the video supply chain

WILMINGTON, Del., Dec. 07, 2021 (GLOBE NEWSWIRE) -- Often considered a “solution for everything,” AI will expand its impact as the video entertainment industry realizes its benefits to a variety of applications. A recent white paper commissioned by InterDigital, Inc. (NASDAQ: IDCC) and written by market research firm Futuresource Consulting examines the industry influence of artificial intelligence (AI) and machine learning (ML) on applications across the video supply chain. The report, “AI and Machine Learning in the Video Industry: New Opportunities for the Entertainment Sector,” investigates the emerging uses of AI across segments of the media industry and highlights key examples of how AI is employed today and might develop in the future.

Valued at roughly $84 billion, the global video entertainment industry is fueled by a five-stage supply chain comprised of media creation, preparation, distribution, playout and delivery, and consumption. AI can be incorporated within several applications across the ecosystem, from encoding to transmission to decoding to post-processing. With a wide variety of applications, including auto tagging metadata, creating transcripts, conducting quality control, flagging inappropriate content, or even service personalization, AI’s strength is extracting patterns from “big data” where traditional algorithms might fail.

The report identifies cost reduction and efficiency as the primary drivers to use AI in broadcast and media. In a data-heavy industry such as multimedia broadcast, the more granular insights that can be extracted from data, the more benefit it will deliver in efficiencies to adopters of the technology.

“We have long known that AI and machine learning will deliver significant improvements to operations throughout the video ecosystem, and this research delivers a nuanced perspective on what these critical technologies have accomplished and have yet to improve,” said Henry Tirri, CTO, InterDigital. “To develop cutting-edge solutions for the video industry’s most critical needs, it is imperative to understand the benefits, and limitations, of AI and ML in their current stage.”

AI and ML offer the potential to augment existing video encoding methods to reduce file sizes and bit rates whilst maintaining visual quality. The report also suggests ML techniques are beginning to influence new solutions for the video industry, though its benefits are not always universal or immediately tangible. Research shows machine learning will play a role in defining advanced video coding mechanisms, even though the significant complexity in encode and decode operations make traditional tools more efficient than AI-based alternatives. For instance, the state-of-the-art Versatile Video Coding (VVC) standard offers a roughly 40% compression improvement over HEVC but carries a tenfold increase in encoding complexity.

“As AI-based methods evolve, the technology will become even more entrenched in video encoding and decoding solutions,” said Simon Forrest, Principal Technology Analyst, Futuresource. “AI and machine learning are likely to become vital elements that enable a commercially viable 8K streaming or broadcast TV service, and even support the proliferation of video conferencing beyond the application of traditional coding schemes.”

To learn more about the findings of the report, “AI and Machine Learning in the Video Industry: New Opportunities for the Entertainment Sector,” please click here.

About InterDigital ^®

InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ.

InterDigital is a registered trademark of InterDigital, Inc.

For more information, visit: www.InterDigital.com

InterDigital Contact:
        Roya Stephens
        Email: Roya.Stephens@interdigital.com
        +1 (202) 349-1714

About Futuresource

Futuresource Consulting is a market research and consulting firm, providing organisations with ongoing insight and forecasting across Enterprise and Professional AV, Consumer Electronics, Content & Entertainment, Education Technology, Professional Broadcast & Automotive. Combining strong methodologies with in-depth market knowledge, Futuresource delivers the latest trends and technological developments to drive business decision making.

For further information, visit: www.futuresource-consulting.com

Futuresource Contact:
        Kayley Bright
        Email: kayley.bright@futuresource-hq.com
        +44 (0) 1582 500100

FAQ

What are the main findings of InterDigital's AI and ML report?

The report highlights AI's potential to improve efficiency and reduce costs across the video supply chain, valued at $84 billion.

How does AI impact video encoding methods according to the report?

AI can augment video encoding methods to reduce file sizes while maintaining visual quality.

What is the significance of machine learning in the video industry?

Machine learning is expected to influence advanced video coding mechanisms and support new solutions for the industry.

What are the limitations of AI and ML in video operations?

The report notes that the complexity of encoding operations may hinder the immediate benefits of AI-based techniques.

When was the report on AI and ML in the video industry released?

The report was released on December 7, 2021.