Every Video Everywhere All at Once
Video is everywhere, and it’s only getting bigger. As we look ahead to 2024, the video streaming market is expected to generate a staggering $108.5 billion in global revenue. And it doesn’t stop there—the market is projected to keep growing at a compound annual growth rate of 8.27%, reaching $137.7 billion by 2027.
This tremendous growth underscores the undeniable shift towards video as the primary form of content consumption. But with this growth comes a massive challenge: there’s just so much video content to analyze, understand, and make sense of. Every minute, 500 hours of video are uploaded online. To put that into perspective, if you were to sit down and try to watch every minute of video uploaded to the internet, it would take over 17,000 years to catch up.
Now, imagine how much longer it will take as the content creation explosion continues—thanks to generative AI tools, we could soon be looking at 100,000 years of video content waiting to be watched. That’s not just an overwhelming amount of content; it’s a mountain of untapped potential waiting to be analyzed.
This is where Qortex comes in. With the explosion of video content, brands need powerful tools to sift through it all and find actionable insights. Qortex is designed to do just that. We aim to help global enterprise brands tap into this wealth of video data, providing unique, non-personally identifiable insights that drive smarter media investment decisions. We’re all about connecting insights to outcomes, allowing companies to use video content in a way that’s scalable, repeatable, and geared for growth.
The global video analytics market is also booming. Valued at $8.37 billion in 2023, it’s projected to grow to $10.25 billion in 2024 and soar to $52.67 billion by 2032, with a compound annual growth rate of 22.7%. This underscores the increasing importance of video analytics as more businesses look to transform the flood of video data into meaningful, actionable insights.
As the global video analytics market continues to boom, Qortex is here to ensure that brands can make sense of the data deluge and turn video from a passive medium into a powerful, data-driven asset.
Thanks,
Zack Rosenberg
Achieving the deepest level of understanding of video through AI. Get in Touch ? P.S. Want 6.8X the results from your video advertising??Learn more!
Adobe’s AI Launch
Adobe has begun the public rollout of its AI-driven Firefly Video Model, which generates video from text prompts. This move positions Adobe against competitors like OpenAI’s Sora and video tools from ByteDance (TikTok’s parent company) and Meta. Adobe’s strategy hinges on using AI models trained on data it has the rights to, ensuring the output is suitable for commercial use. While the video tool is not yet generally available, it will first be offered to users on Adobe’s waiting list. PepsiCo’s Gatorade and Mattel’s Barbie line have already employed Adobe’s AI for image generation and packaging design, respectively. Adobe aims to make the tool user-friendly for video creators, offering features that integrate smoothly with traditional footage, including control over camera movements and angles.
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Apple’s Research
This week, Apple released research confirming that current AI models are limited to pattern-matching rather than true reasoning. Using its new GSM-Symbolic benchmark dataset, Apple tested AI models with more complex questions than OpenAI’s GSM8K, exposing weaker reasoning skills by preventing models from relying on simple answers stored in their training data. While this reinforces concerns about AI’s reasoning abilities, it serves as a reality check amid the AI hype. Some see this as a competitive move against OpenAI, yet enthusiasm for AI remains strong, with saying they’d let an AI avatar act for them in meetings.
For industries like advertising and video media, this has critical implications. While AI can excel at pattern recognition and data-driven tasks like targeting, content generation, and analytics, the research highlights that AI may still fall short in areas requiring deeper reasoning or creative problem-solving. This means human oversight is essential to ensure AI-generated content aligns with complex brand strategies and audience engagement goals. The study serves as a reminder to manage expectations and maintain a balance between AI capabilities and human intuition, especially in creative fields that rely on nuanced decision-making.
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