AI video technology company Magnifi by VideoVerse is expanding beyond its traditional area of AI highlights generation for sports content, moving into general entertainment and eventually news.
Introducing its entertainment product at IBC, Meghna Krishna, Chief Revenue Officer at Magnifi, said the company will be opening it up for early access by the end of September.
“We are still trying to define the use cases, but it can very quickly become a great storytelling tool which can assist an editor in creating great content much faster,” Krishna said.
The new platform works exclusively on entertainment content and automates the creation of short clips from long-form content, by using recognition of faces, speech, places, objects, actions and audio cues.
Magnifi is also expanding its presence in Latin America and Africa, broadening its remit beyond India, Europe and the United States.
Krishna noted that the growing awareness of AI, thanks to recent hype around generative AI as embodied by ChatGPT, has been helpful for Magnifi. “A lot of our partners, or even competitors, are now talking to us… because they now know that they need AI,” she observed.
For example, Magnifi has just announced an agreement with Accedo to bring AI-enabled sports highlights to the Accedo Launcher Android TV framework.
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