OpenAI’s Sora text-to-video generation software is disrupting the normal operations in Hollywood. Major stakeholders such as studios and talent agencies are soon to experience firsthand the potential of this revolutionary software through a series of crucial meetings. The reaction has already started trickling in, with Producer Tyler Perry holding off his $ 800 million studio expansion plans after seeing Sora in action. However, the excitement comes with a sense of apprehension about workers’ security with the advent of this potentially disruptive technology.
Revisiting another remarkable example set by Sora, it’s clear that it’s time for both Hollywood and the advertising industry to reconsider their business models:
Take aways:
- OpenAI plans for public release: OpenAI is targeting to release Sora to the public sometime later in 2024. The company is in continuous discussions aiming to ensure a prudent transition to the new technology.
- Concerns over worker protection: While incoming opportunities are being welcomed, concerns over the protection of workers in the business arise. As per Perry, regulations must be put in place to safeguard the workforce.
- Historical impact of AI in Hollywood: The potential of AI to disrupt the industry isn’t surprising. The effects were notably visible during the discussions related to last year’s Hollywood writer’s strike.
References:
Deadline
Sora: first impressions