Towards a Rhythmic Economy-AI Tuning the Entertainment Industry: A Global Scenario via Indian Route

Abstract

The frontiers of storytelling are being challenged by technological upscaling, especially the dawn of artificial intelligence washing over the globe. The media and entertainment sector is a sunrise segment with an envisioned 10.2% escalation and a 10% CAGR, implying its capability to challenge the mainstream sources of revenue in the economy. The ripples it generates are felt at large because of how intricately it is meshed with the associated industries. Adding AI into this equation seems to multiply the impact. The chapter, therefore, endeavors to present a multi-faceted perspective of how AI as one of the major connoisseurs of innovation and an evolved consequence of creative destruction can aid the M&E sector, notably film and music industry. A comprehensive discussion is presented wherein existing literature has been referred to for arriving at the aforementioned goal. The chapter highlights that AI's inclusion in films and music has offered unforeseen avenues, presenting facets which can lead to an unprecedented development in these industries.