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AI and Hollywood: A Radical Paradigm Shift

Updated 19.7.2023 14:07

As Hollywood reels from its first dual actor-writer strike in over six decades, a new and disruptive element is shifting the industry landscape: artificial intelligence (AI).

The issue at the heart of the standoff lies with the use of AI to digitally clone actors, a practice that many fear may impact jobs, careers, and the creative spirit of the industry itself.

Actors’ Resistance to AI Cloning: Protecting Jobs and Creativity

The Alliance of Film and Television Producers has proposed to use AI technology to scan and digitally clone actors, thus enabling their digital counterparts to appear in future productions indefinitely. While such technology could significantly cut production costs and complexities, actors and screenwriters are standing their ground, fearing their roles will be reduced to single-day jobs without any royalties for their future digital appearances.

Ripple Effect

The ripple effects of the strike have ignited a discussion on the ethics and repercussions of using AI in Hollywood. Celebrities like Tom Cruise have voiced concerns, as has Fran Drescher, president of the SAG-AFTRA union, who warns of the existential risk AI presents to actors. Yet despite the current turbulence, AI’s role in Hollywood seems inevitable given the recent advancements and the potential benefits it brings.

Who stands to gain in the financial world from this transition?

???? Also Read: BOC Rate Hike Expected to Cripple Canadians 

Looking Ahead: Investment Opportunities Amid Disruption

1. Adobe Systems (NASDAQ: ADBE):

Adobe, known for its software solutions in the creative industry, is also venturing into AI with Adobe Sensei. This technology harnesses AI and machine learning to automate mundane tasks and provide intelligent insights. With Adobe’s strong foothold in the movie and video editing space, their AI capabilities could see an uptick in usage as more and more productions utilize AI technologies for rendering and post-production. Adobe’s potential to adapt and serve this new wave of AI-driven demand makes it a stock worth considering.

2. Amazon (NASDAQ: AMZN):

Amazon, with its dominant Amazon Web Services (AWS), also stands to benefit from the AI revolution in Hollywood. AWS provides cloud computing services and AI solutions that could be vital in managing and processing the vast amount of data involved in creating digital clones and AI-driven content. Furthermore, with Amazon’s involvement in streaming and film production through Amazon Prime Video, it could directly utilize AI advancements for its own content creation, making it a potent player in this evolving scenario.

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Disclaimer: Wealthy VC does not hold a long or short position in any of the stocks mentioned in this article.

Justin Hopper

Justin Hopper is an editor of the digital media at Wealthy VC and TCI. If you have questions don't hesitate to reach out! Twitter | Email

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