Artificial intelligence and Hollywood are partnering up for the first time. And it might reshape the future of the entertainment business.
What’s happening:
- Film production studio Lionsgate (NASDAQ: LION) has partnered with artificial intelligence company Runway to begin building artificial intelligence models which are trained on movies and television shows owned by Lionsgate
Why it matters:
- The new partnership between Lionsgate and Runway is the first of its kind to ever happen with a Hollywood studio and represents a paradigm shift in how large owners of media intellectual property will adopt artificial intelligence
Going deeper:
- Runway has raised significant amounts of venture capital funding and has landed multiple notable backers, including Lux Capital, Google (NASDAQ: GOOG), Nvidia (NASDAQ: NVDA) and Coatue
- The new technology that is developed as a result of the partnership will initially be used exclusively by Lionsgate Studios for the production of new media and filmmaking
Yes, but:
- Artificial intelligence has been an enormous concern for Hollywood studios and actors, with many new policies being proposed to be passed into law to protect both intellectual property and the likeness of celebrities from being monetized by artificial intelligence companies without proper consent or legal framework
