Digital
Why OpenAI is hiring 100 ex-bankers: Inside the ChatGPT-maker's secret project to automate Wall Street's grunt work
AI can provide Rs 45,000 crore boost to the Indian M&E sector by 2027
An EY report which gathered insights and answers from M&E industry executives, states that 65 percent M&E CXOs believe that Gen AI would help in revenue acceleration.
By contrast, trust in Generative AI to enhance creativity and innovation as a co-pilot and accelerator of human creativity is growing, with fewer considering it a threat to human craft and ingenuity. (Representative Image: Andrea De Santis via Unsplash)
The Indian Media and Entertainment sector is poised to be disrupted by the advances in artificial intelligence driven technologies. AI – and especially Gen AI - gives the industry the tools that can result in a 10 percent revenue growth and 15 percent cost efficiency, according to an EY report, shared as part of FICCI annual report on the M&E sector in India.
AI can provide an Rs 45,000 crore boost to the Indian M&E sector by 2027, the report states. 65 percent of the M&E CXOs say their companies have initiated AI projects or plan to within the next 12 months. 45 percent of M&E CXOs claim that CEOs are driving the Gen AI agenda.
65 percent M&E CXOs believe that Gen AI would help in revenue acceleration, while 85 percent were looking at external technology providers to enable implementation. 85 percent of the CXOs interviewed also believe that Gen AI would help drive innovation, with the biggest impact across Content development, Product development and Customer experience.
Gen AI is seen as improving employee productivity, not replacing human resources. But 15 percent of those interviewed believe it would result in job displacement.
SPOTLIGHT
From Delhi’s sharp-tongued lyricists to Chennai’s bilingual innovators and North-East India’s experimental beatmakers, Rap 91 LIVE’s lineup was a sonic map of the country’s cultural diversity.
Read MoreEnd of the Old Guard? Publicis outperforms, WPP declines, Havas rises, Omnicom readies IPG merger
As WPP reels from revenue declines and vows sweeping restructuring, Publicis and Havas ride strong AI-led client demand. With Omnicom and IPG on the cusp of a historic merger, the global advertising landscape braces for a power realignment built on data, technology, and efficiency.