Alibaba Co-Founder Sees AI Transforming Entertainment Industry, Talks About Digital Personalities, Studios And More
Alibaba Group Holding Limited (NYSE: BABA) co-founder and Executive Vice Chairman Joe Tsai sees AI tools as pivotal in transforming the future of the entertainment sector, according to his speech on Wednesday at the BEYOND Expo 2023.
Tsai hailed Macao CEO Ho Iat Seng's keenness on transforming the economy from just a single gaming industry into entertainment, content, healthcare, sustainability, and consumption, Technode reports.
Tsai emphasized how the launch of ChatGPT revolutionized generative AI.
Tsai harped on the importance of online retail e-commerce business to China's economy, expressing their desire to help the country grow the economy through consumption.
Tsai saw generative AI as pivotal in digital entertainment, resolving the pain points of managing actors, actresses, and logistics headwinds.
He talked about creating digital personalities and merging them with an American sport, like baseball, with something from China into a very sort of Chinese-American scene of promoting Major League Baseball. With generative AI, he claimed to create the model in a week.
He discussed creating a studio with very little space by leveraging LED panels and creating LED screens with scenes. He mentioned their studio in Beijing, about 2,000 square meters that can handle everything.
Tsai also discussed creating something real, and then there are post-production tools to make it virtual, helping democratize the production and the whole post-production process.
Tsai also floated the concept of marketing a movie with generative AI, using them to create and promote posters.
He saw generative AI playing a crucial role in bypassing handicaps associated with managing humans cost-efficiently.
Price Action: BABA shares traded higher by 2.77% at $85.25 premarket on the last check Thursday.
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