35% of 15,000 GEMA/SACEM composers have used AI in their music creation?Hello,
A full and very interesting study on the use of artificial intelligence in the music sector conducted by Goldmedia and commissionned by SACEM (french PRO) & GEMA (german PRO) has just been released. It's in English
We learn that:
- by 2028, 27% of music creators’ revenues will be at risk due to generative AI. This corresponds to an estimated potential damage of €950m in 2028 alone and a cumulative total damage for the period 2023-2028 of around €2.7 bn.
- the share of music applications is estimated at $300m in 2023. This corresponds to 8% of the total market for generative AI with already $3.7 bn in revenue in 2023. The market for AI music solutions is expected to increase more than tenfold by 2028, with an average annual growth rate of around 60% to over $3 bn for music AI alone.This means that in only a few years the market will reach a size that corresponds to 28% of global music copyright collections in 2022.
- 35% of of the 15k GEMA/SACEM surveyed for this study have used AI technologies of some kind in their work with music and creation in general (I didn't except this percentage would be so high)
Maybe they count something like Ozone?35% of 15,000 GEMA/SACEM composers have used AI in their music creation?
Maybe I’m living under a rock, but I literally don’t even know of any AI tools yet for composers. What are these people using or what is being defined as ‘AI technologies?’
You can find all the details in the study!Maybe I’m living under a rock, but I literally don’t even know of any AI tools yet for composers. What are these people using or what is being defined as ‘AI technologies?’
Yes indeed (see Page 14)Maybe they count something like Ozone?
192 pages? This will not tell us what to expect from the future.You can find all the details in the study!
To be honest, I think everybody should read the study. It's an interesting and full insight (192 pages) into what we can expect from the future.
Get AI to summarise it192 pages? This will not tell us what to expect from the future.
Yet another reminder that stock investors are largely dumb animals that are easily fooled by smooth-talking charlatans.AI Companies Lose $190 Billion After Dismal Financial Reports
Reuters reports that AI-related companies lost $190 billion in stock market value on Tuesday following disappointing earnings reports.futurism.com
I personally think the best stocks right now are chip making and gpu making stocks. If and when AI gets there, it will largely be due to the gpu/chipmakers producing enough for them. *not financial adviceYet another reminder that stock investors are largely dumb animals that are easily fooled by smooth-talking charlatans.
All one has to do to see that AI is still largely in the pre-monetization phase outside of a few novelty applications (e.g. ChatGPT's monthly subscription for CGPT4/DALL-E) is to use it. It becomes very evident, very quickly that it's not world conquering, "game changing" technology yet. It will get there, but you're going to have to wait some time longer before the learning models hit the critical mass necessary to stake your financial future on it.
Then again, if you're dumb enough to heavily invest in stocks based on current AI output and expect returns any time soon, you're probably dumb enough to be suckered in by what ChatGPT does to think it's smarter than it really is.