[ad_1]
It cannot be denied that the announcement of sora, OpenAI’s new text-to-video technology, has sparked a mix of excitement and anxiety in Hollywood. Although a common reaction is that Hollywood is doomed to failure, the truth is that there should be optimism that the production process has become much easier. Creative people will have more tools to collaborate, communicate their visions, and interact more easily with their fans.
For executives and studios, it presents opportunities to quickly produce high-quality content that users really want in a variety of formats at lower costs. For writers, it offers the opportunity to take control of bringing their words to life. And for visual artists, it will put you at the center of the puzzle. Like Epic Games’ Unreal Engine, which requires a level of coding to get the best results, many visual artists will quickly become experts as they craft increasingly ambitious visions. Those who figure out how to enter the best text entries will get the best content results.
But let’s not forget the fans in all of this: the people who spend the money that powers Hollywood’s economic engine. Sora-like technology can allow distribution platforms and creatives to encourage more direct fan engagement by allowing them to co-create with their IP. For example, they can allow a fan to expand on a story, explore a character further, or possibly create a unique, custom short. It will also allow talent, writers and graphic artists to have more direct relationships with their fans and create new means of distribution, creating greater economic value for many.
Imagine an interactive experience where fans can interact with their favorite characters in real time, based on data from their favorite franchise. Fans could have personalized interactions with their heroes. And consider the many talented comics artists of the 20th century who, after creating novel universes, earned plenty of fans but not much money for themselves.
So what happens next? Hollywood needs to play offense and defense. This is done by protecting data and managing AI rights. Period.
The data in this case refers to all intellectual property and original content. More specifically, protect your own content data so you can train your own generative AI engine or license the data to others, such as an actor sending personalized messages via synthetic voice or licensing their synthetic voice to a commercial. For studios, which already have lawyers protecting the content itself, this means protecting the training data used in artificial intelligence systems and the metadata associated with their content.
For talent, writers, visual artists, and others, this means protecting both your content data, including your image, and adding a data license to work for hire. Google’s $60 million payment to license Reddit data for AI training purposes reflects the immense value of this data both now and in the future. Perhaps one day the biggest assets of the biggest IP holders will be their training data, not just the IP itself, and one of the biggest costs on tech companies’ bottom lines will be data licensing costs. . While in the takeover of the territory of social media and streaming platforms, whoever had the most users was the winner, there will be many opportunities to level the playing field for intellectual property holders when it comes to training data rules.
More than just a legal contract, technology is needed to connect all outlets, maintain rights, and ensure that intellectual property owners are adequately compensated. With the multi-layered needs of AI rights management, determining who gets paid is the perfect task for technology, specifically smart contracts and blockchain technology. For artists, creators, actors, musicians, and more, this technology can help protect their work, generate revenue opportunities, and deepen connections with fans.
Dan Neely is co-founder and CEO of vermilionthe first AI platform that enables creators and intellectual property owners to unlock their potential and protect their work with authenticated AI.
