‘AI technology, will be part of the industry in 3-5 years’ says Nostradamus Report

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AI - or Artificial Intelligence - has been one of the buzziest words at this year’s Cannes Film Festival and market. Whether its exponential growth will be beneficial for the industry, or doom and gloom for artistic endeavours and jobs, was hotly debated at various Marché panels and among industry people, while the topic is one of the bones of contentions between Hollywood’s WGA (Writers Guild of America) and US studios and Streamers.

The subject also toplines the much-awaited Nostradamus Report, which forecasts the near-future of the fast-changing audiovisual industries, thanks to thorough research, analysis and interviews with eight top professionals, undertaken by Koljonen.

Among the nine key findings, the report states that within the next 3-5 years, “AI support will be integrated into all fully or partially digital workflows, supercharging Virtual Production in particular”. The technology might “unlock resources and creative capacity” for individuals and productions, but it will also entail massive job cuts and restructuring for the whole industry.

Among the interviewees, Rikke Ennis, CEO at REinvent Studios stated about the future use of AI in film & TV: “Some things will be much more efficient. Processes. Research. It will be possible to make the same quality for less money, both in crew size and in technology cost. In pre-production and in post, because of AI, but also [Virtual Production]. Everything that you see on screen is going to look outstanding - imagine where we are five years from now. And it's going to introduce a new generation of talent, who have the possibility to create amazing stories themselves.”

While Will Richmond, editor and publisher of VideoNuze, argues that AI will impact as well advertising, connect TV and the video experience, Sten-Kristian Saluveer from Storytek Innovation & Venture Studio praised the technology that will revolutionise the industry within the next 3-4 years, introduce cost-savings, greater productivity and new job opportunities for AI-skilled personnel.

Screenwriting impact
Neil Peplow, director of the London Film School, who admits being one of the 100 million users of ChatGPT, said the technology is already a reality in many writing rooms.

“I know people in development teams now who are using AI image generation to create pitch documents, and they look fantastic!" he admitted, citing his own experience in a different circumstance: “The other day I wrote a contract to a photographer to do some work for us, and I did it via ChatGPT whilst I was on another call. Saved 300 quid!” he said.

For Peplow, AI might not be able to generate “that core IP, that core idea”, but it is going to really help creatives, notably to develop ideas, free them from the more traditional structures they needed earlier, or “even the money that they needed to get noticed, from finance, creative, distribution, audience testing,” he argued.

Besides AI, the report tackles the new streaming reality and peak TV drama.

“Streamers are correcting away from the debt-funding growth to more normal expectations of profitability, forcing changes on drama content, formats and budgets. The number of productions will decrease; financial pressures have created an atmosphere of caution that drives series content towards the middle of the road,” says the report.

Koljonen also advises the industry to remain attractive to the GenZ and to create a holistic environment across the value chain by continuously supporting diversity, equality, inclusion, health and safety.

Besides, Ennis, Peplow, Saluveer and Richmond, industry contributors included Sened Dhab, VP Young Adult Drama, France Télévisions, Max Malka, Head of Scripted, Endemol Shine Finland, Alex Pumfrey, CEO, Film and TV Charity, and Danna Stern, Managing Director In Transit Production.

The Nostradamus report is being published annually by the Göteborg Film Festival, in collaboration with Film i Väst and support from Nordisk Film & TV Fond, Västra Götaland region, and Kulturakademin.

The 47^th Göteborg Internatiomal Film Festival will be held January 26-February 4 at a new venue: the Clarion Hotel Draken.

For further information, check: www.goteborgfilmfestival.se