The most important features of mankind development at the modern stage are pervasive computerization and effective usage of the Internet for receiving, processing, storing and transmitting information. Top managers of companies working in various fields of human activity, including media and entertainment, understand the need to actively use machine learning (ML).
What machine learning is
The competitiveness of companies depends on how effectively the information is used and in what form it is provided for consumers. With the spread of the Internet, the amount of digital information available for processing and storage has sharply increased. By 2020, the volume of the digital universe is predicted to reach 40 trillion gigabytes. At the same time, a lot of useful information may remain unprocessed, since the processing of such enormous flows of information is impossible for the human brain. Absorbing the torrents of information and their qualitative processing is possible for “smart” machines that think and react almost like people but with higher accuracy and speed.
Artificial intelligence (AI) is increasingly involved in various areas of human life through these modern methods and technologies:
- Computer vision
- Natural language processing
- Machine learning, etc.
Machine learning is a subdomain of artificial intelligence which widely uses a data-driven approach. The main factor of decision making while using the data-driven approach is the application of the results of a measurable experiment. The factor is based on automated detection of meaningful patterns in data obtained from the analysis of information. In other words, there is no need to write a separate program to solve a computer problem, since the computer will learn to solve such problems itself after its introduction to a sufficient number of examples.
Application of machine learning
As the core part of artificial intelligence, ML provides computer algorithms with a capacity to extract analytical value by exploring the digital universe. Thus, computer algorithms most efficiently explore enormous aggregation of information, which allows:
- Predicting the situation more accurately;
- Making effective decisions;
- Identifying hidden trends and patterns.
Machine learning is applied in various sectors (production, public, telecommunication, healthcare, tourism, trade, banking, etc.), and ML shows excellent results in the field of media and entertainment.
Perspectives on machine learning
AI experts predict that the “era of smart machines” will be one of the most significant in the history of technology. By 2020, the machine learning market should increase to $ 12 billion a year. At the same time, specialists in monitoring and machine learning will work in every fifth company. Currently, the global market consists of five types of smart machines:
- Intelligent Virtual Assistants
- Intelligent Embedded Systems
- Autonomous Robots
- Expert Systems
Now, it is difficult to foresee what types of “smart machines” will be most actively used in the area of media and entertainment, but intelligent embedded systems and neurocomputers will likely be most involved.
Methods of machine learning are actively used, for example, by such major marketplaces as Amazon, and in the media and entertainment segment, we can name Netflix, the American supplier of TV series and films.
Benefits of machine learning technology
The application of machine learning gives the following results:
- Speed up the decision making. Due to the ability to prioritize, ML algorithms provide automation of decision making. Algorithms predict the most reasonable direction and determine additional opportunities.
- Accelerate the adaptation of information to real conditions. The AI processes the information and immediately adjusts the results according to the changed conditions.
- Ensuring better analysis. ML analyses streaming data of any size and complexity finding valuable information. Launching operations are performed based on the analysis results.
What opportunities ML offers in the field of media and entertainment
The opportunities for effective use of machine learning for media and entertainment are more than impressive. The use of the machine learning technology means the following:
- Increasing the capabilities to find the necessary content. Recommender systems demonstrate a high level of effectiveness (the Netflix’s service). There is no need to rely only on keywords and meta tags while searching for information.
- Personalization of content. In order to find a movie or other media product of interest, there is no need to look through large amounts of information. Also, Netflix is working at the possibility of having different movie’s ends depending on a viewer’s mood. It’s like you are watching the ‘Titanic” movie and you know there’s no chance that Jack could survive and no hope for any happy end there. But you always want to save him. And Netflix is working on giving a viewer this chance! You can save Jack if you want and watch ‘Titanic’ happy ending!
- Increasing advertising effectiveness. Consumers will see the best advertising products, allowing advertisers to reduce advertising costs while improving its performance.
- Capability to extensively use of voice search through virtual assistants, as well as an exchange of voice messages.
- Active use of speech technologies as a replacement for mobile applications.
The benefit of voice-activated technologies involves higher performance including the search for entertainment and media content of interest since the recognition of verbal requests and the accuracy of answers are significantly increasing.