LogInKatzenberg acknowledges AI's disruptive potential but emphasizes that project ideas will still come from human creativity.
During the Bloomberg New Economy Summit in Singapore, DreamWorks founder Jeffrey Katzenberg made some predictions about the impact of generative AI on the media and entertainment industry. He predicts that AI will lead to a significant reduction of up to 90% in the cost of producing animated films and that AI will bring about substantial disruption to the sector.
Speaking at the summit, Katzenberg emphasized that AI is a tool that will be embraced by creative people. He drew parallels to historical advancements, such as the introduction of pens, paintbrushes, and cameras, which revolutionized creativity and storytelling. As Katzenberg said, the impact of digital technology on the media industry in the past decade will be surpassed by what is expected to unfold in the next ten years.
"If you look at sort of a historical perspective of when we went from a pen, a paintbrush, a printing press, a still camera, a movie camera; these are things that just expanded creativity and all sorts of storytelling in extraordinary ways, and we've seen how that has continued to evolve. It's been explosive over the last 10 years. I think if you look at how media has been impacted in the last 10 years by the introduction of digital technology, what will happen in the next 10 years will be 10 times as great, literally, by a factor greater," Katzenberg shared with Bloomberg.
While acknowledging the disruptive potential of AI, Katzenberg clarifies that the ideas for projects will still originate from human creativity. He believes that AI will make certain aspects of the creative process more accessible and efficient, reducing the time and resources required.
Overall, Katzenberg's predictions highlight the important impact AI is expected to have on the media and entertainment industry. The cost reductions and transformative potential of AI in animated film production indicate a promising future for creators and studios.
"I think that on the one hand, it will be disruptive and commoditize things that are very inaccessible for artists and storytellers today. In the good old days when I made an animated movie, it took 500 artists five years to make a world-class animated movie. I think it won't take 10 percent of that. Literally, I don't think it will take 10 percent of that three years out from now," Katzenberg stated.
Earlier on, Take-Two Interactive's CEO Strauss Zelnick shared some thoughts on the rise of generative AI, how it could help create a better game, and some insights about the adaptation of highly acclaimed games that the company possesses.
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