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We asked:
What are the potential risks of allowing AI and blockchain technology to have such a large influence over the entertainment industry?
The Gist:
The potential for artificial intelligence (AI) and blockchain technology to transform the entertainment industry was discussed by two speakers at the 2019 AI Summit: Avengers director Joe Russo and Epic Games executive Jerry O’Flaherty. Russo spoke of the potential of AI to create immersive experiences, while O’Flaherty discussed the potential of blockchain technology to revolutionize the gaming industry. It was suggested that blockchain technology could provide gamers with the ability to own and trade digital assets, while AI could be used to create more interactive and immersive gaming experiences. Both speakers agreed that the combination of AI and blockchain technology has the potential to revolutionize the entertainment industry. It was concluded that the entertainment industry must embrace AI and blockchain technology in order to remain relevant and competitive in the future.
What are the potential implications of artificial intelligence and blockchain technology for the future of entertainment?
Decoded:
Since cryptocurrencies first graced the world stage nine years ago with the launch of Bitcoin, technology has been developing at an exponential pace. Now more than ever, the marriage between the technology of blockchain and the entertainment sector is driving major advances in both domains. The technology's ability to securely store and transfer data, as well as its trustless nature, is what's peaked the interest of Hollywood.
Now, there is a growing number of influential voices in the entertainment space that are speaking out on the potential of blockchain and its ability to reshape the industry. Recently, director of the Avengers Joss Whedon, Tsunekazu Ishihara of The Pokemon Company, and Epic Games executive Mike Fischer have spoken out on the power of this technology and its potential to transform many of the entertainment sector’s existing paradigms.
At the Deconomy conference in Seoul, Joss Whedon spoke on his vision of utilizing blockchain technology to empower authors to take control of their works by providing them easier access to the market. Much like it has empowered a decentralized financial industry, blockchain can play the same role within the entertainment industry by cutting out the middlemen. By utilizing a decentralized system like blockchain, there would be more fairness, transparency and efficiency within the entertainment sector for both the creators and consumers.
In addition to empowering authors, blockchain technology can also be used to create virtual studios where various organizations can collaborate for the production of creative works. This would breach the gap that’s often felt between the producers, directors and actors of a movie or show. By bringing everyone together digitally and in a more secure manner, creators would also be able to receive payments more effectively and securely.
Blockchain technology also provides a quick and simple way to manage intellectual property (IP). With its own cryptographic token, digitized content can be easily protected while allowing its owners to benefit by giving profits back to them whenever their work is used or shared.
During the Deconomy conference, the CEO of The Pokemon Company International, Tsunekazu Ishihara, addressed the potential of blockchain within the entertainment industry. He spoke of a content-exchange ecosystem that would be powered by blockchain technology, where a secure digital space could be made between creators, producers and audiences. Thanks to blockchain, transparent and secure payment systems as well as anti-piracy measures could be put in place that would make it easier for both creators and audiences to take part in the content ecosystem.
Meanwhile, Epic Games executive Mike Fischer spoke excitedly about the potential of artificial intelligence (AI) to revolutionize the entertainment sector. In his words, he stated AI will be able to produce high-quality images and videos at a much faster rate than what is currently possible. Furthermore, he also spoke of how blockchain technology can be used to store and distribute AI-generated content more securely, protecting creators and consumers alike.
With the rise of blockchain and AI in the entertainment sector, it's becoming increasingly clear that there is an exciting potential within the combination of these two technologies. Thanks to their trustless and secure nature, blockchain and AI can provide an unprecedented level of convenience, security and efficiency within the entertainment industry, transforming it into a much more equitable and comfortable space. Whether or not the potential of these two technologies get realized, only future can tell.
Now, there is a growing number of influential voices in the entertainment space that are speaking out on the potential of blockchain and its ability to reshape the industry. Recently, director of the Avengers Joss Whedon, Tsunekazu Ishihara of The Pokemon Company, and Epic Games executive Mike Fischer have spoken out on the power of this technology and its potential to transform many of the entertainment sector’s existing paradigms.
At the Deconomy conference in Seoul, Joss Whedon spoke on his vision of utilizing blockchain technology to empower authors to take control of their works by providing them easier access to the market. Much like it has empowered a decentralized financial industry, blockchain can play the same role within the entertainment industry by cutting out the middlemen. By utilizing a decentralized system like blockchain, there would be more fairness, transparency and efficiency within the entertainment sector for both the creators and consumers.
In addition to empowering authors, blockchain technology can also be used to create virtual studios where various organizations can collaborate for the production of creative works. This would breach the gap that’s often felt between the producers, directors and actors of a movie or show. By bringing everyone together digitally and in a more secure manner, creators would also be able to receive payments more effectively and securely.
Blockchain technology also provides a quick and simple way to manage intellectual property (IP). With its own cryptographic token, digitized content can be easily protected while allowing its owners to benefit by giving profits back to them whenever their work is used or shared.
During the Deconomy conference, the CEO of The Pokemon Company International, Tsunekazu Ishihara, addressed the potential of blockchain within the entertainment industry. He spoke of a content-exchange ecosystem that would be powered by blockchain technology, where a secure digital space could be made between creators, producers and audiences. Thanks to blockchain, transparent and secure payment systems as well as anti-piracy measures could be put in place that would make it easier for both creators and audiences to take part in the content ecosystem.
Meanwhile, Epic Games executive Mike Fischer spoke excitedly about the potential of artificial intelligence (AI) to revolutionize the entertainment sector. In his words, he stated AI will be able to produce high-quality images and videos at a much faster rate than what is currently possible. Furthermore, he also spoke of how blockchain technology can be used to store and distribute AI-generated content more securely, protecting creators and consumers alike.
With the rise of blockchain and AI in the entertainment sector, it's becoming increasingly clear that there is an exciting potential within the combination of these two technologies. Thanks to their trustless and secure nature, blockchain and AI can provide an unprecedented level of convenience, security and efficiency within the entertainment industry, transforming it into a much more equitable and comfortable space. Whether or not the potential of these two technologies get realized, only future can tell.
Essential Insights:
Three-Word Highlights
AI, Entertainment, Blockchain
Winners & Losers:
Pros:
1. AI can help to create more immersive and engaging entertainment experiences.
2. Blockchain technology has the potential to revolutionize the way we interact with media.
3. AI and blockchain can be used to create new business models and monetization opportunities.
Cons:
1. AI and blockchain are still relatively new technologies and could be difficult to implement.
2. AI and blockchain could lead to increased costs for consumers.
3. There are still a lot of unknowns when it comes to how AI and blockchain will be used in the entertainment industry.
Bottom Line:
The bottom line is that the potential of artificial intelligence and blockchain technology to revolutionize the entertainment industry is immense. Industry leaders from Epic Games and Marvel Studios have expressed their enthusiasm for the possibilities of AI and blockchain, and the potential for these technologies to create new and innovative experiences for users. With the increasing adoption of these technologies, the entertainment industry is likely to see a major transformation in the near future.
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