A New Beginning in 2024 - Impact of AI on the Media and Entertainment Ecosystem Unveiled at CES Seminar

Las Vegas, January 10, 2024 - Industry leaders and experts gathered at CES 2024 to discuss the transformative impact of Artificial Intelligence (AI) on the media and entertainment landscape. The joint seminar, themed "A New Beginning in 2024 - Changes in the Ecosystem of Media and Entertainment," was hosted by three of Korea's leading news and media organizations, DirectMediaLab, The Core, and the Institute of Digital Industry and Entertainment.

The seminar, held in conjunction with CES 2024, the world's largest IT and content innovation event, explored various facets of the media and entertainment industry that are poised for significant changes in 2024.

The event addressed key topics such as the relationship between and development direction of AI and media content, shifts in streaming services and content distribution, and the overall impact of generative AI on the industry.

"AI is All, FAST is Fast, the Death of Linear TV, Content Format Shifts, M&A, Advertising, and Bundling" were all dominant keywords during the seminar. Industry leaders, business experts, and media organizations convened to discuss the future of the media and entertainment industry amidst rapid technological advancements and evolving consumer behaviors.

Various industry experts and companies outlined various research plans, including the integration of AI and devices, analysis of the media content sector, investigation of paid broadcasting fee plans, and strategies for diversification and localization of content distribution paths.

Emceed by Maru Kim, the seminar commenced with remarks from DirectMediaLab before moving onto the online and offline presentations, followed by a roundtable discussion.

Presentation of Jung-Soo Kang

Insights from Industry Experts and Leaders

Jung-Soo Kang, director of The Core, an outlet that focuses on digital business, media, and AI, highlighted predictions for 2024 and brought attention to the transformative potential of AI as it “begins to try out new bodies,” emphasizing its diverse forms and integration into various devices. He highlighted the need for AI to amplify device capabilities, mentioning companies like Apple and Meta working on advanced language models and the creation of AI that enhances the user experience across multiple devices.‌

Chang hee Noh, director of the Institute of Digital Industry and Entertainment, presented an analysis of the media content industry environment, addressing challenges faced by the Korean media content sector, trends in fee policies for streaming services, and the “post-TV age” creating a crisis in the Korean OTT industry. He brought up the limitations of generative AI, acknowledging users presented with too many options. Noh also pondered the regulation of such AI, emphasizing the need to adapt to new values in a major transition, and to make efforts related to intelligence rather than focusing on stricter regulations.

Presentation of Chang hee Noh, (Credit by Kocca)

Jung Han, CEO of DirectMediaLab presented on the theme, “CES and the 2024 Entertainment Technology Outlook,” focused on the intersection of AI and streaming. The presentation explored attempts by Samsung and LG to redefine TVs as intelligent internet hubs by connecting various technologies into an AI home device. Other topics included the development of AI humans in the B2B domain, investments in live sports content by streaming operators, and AI’s impact on live TV, multilingual libraries, and Hollywood. Offerings at CES 2024 were also highlighted, such as immersive experiences using MR devices.

Kun Hee Park, CEO of KOCOWA, the “ultimate destination for Korean entertainment,” outlined the global joint streaming company’s take on the future of K-OTT Platforms. He emphasized a tech-centric approach in the content industry, highlighting the company’s extensive data collection efforts for understanding their customers. Park also addressed the application of AI, introducing streaming platform KOCOWA+’s search function “AI Keytalk” to help unfamiliar audiences discover content easily. He explained while protecting domestic content platforms is necessary, Korea should not miss out on the opportunities presented by overseas expansion.

Kun Hee Park, CEO of KOCOWA

Chulmin Park, CEO of AIPark, showcased AI technology’s potential in revolutionizing the media industry. His presentation discussed the creation of AI news anchors in improving the media industry through AI technology. This included making the media production process efficient and the development of AI avatars for diverse applications beyond news such as promotional activities. The company introduced universal solutions like Text-to-Speech and AI avatars, emphasizing the democratization of information and knowledge AI offers in the field.

Chulmin Park, CEO of AIPark

The seminar concluded with conversations and discussions on the “2024 Media Content Technology Market Forecast,” focusing on the future of generative AI in every aspect of life, media, and the information environment.

During the discussion, moderator Dr. Samseog Ko, Distinguished Professor at Dongguk University (former commissioner, Korea Communications Commission), asked the participants about the conditions and practical difficulties for the success and spread of K-content.

He also emphasized the "importance of technology and content." "There is a more concrete message that 'high technology should be utilized for humanity's problems,'" said Dr. Ko, adding, "It is being emphasized with a more specific message that 'advanced technology should be utilized to solve the problems facing humanity."

Chulmin Park expressed his hope that “we won't separate technology and content.” The fusion of technology and content is not just a trend but will be a necessity in 2024 and thus forward for thriving in this dynamically changing media and entertainment ecosystem.

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