Machine Learning is the adrenaline shot for the music industry.
AI & ML – 2 acronyms that are dominating the digital space these days have innumerable uses, bound only by human enterprise. It was only a matter of time before the music industry was exposed to it and benefited from it. There are 4 key domains where the music industry stands to grow when it comes to the implementation of machine learning & artificial intelligence.
First of all, AI is going to be instrumental in making music production more affordable & cost-effective. Elimination of middlemen, expensive equipment & complicated processes would be the goal and AI has set the ball rolling on two fronts – composition & voice synthesis. Startups like Replica Studios (voice synthesis) & Boomy (composition) are paving the way for the newest generation of music creators to help them produce professional sounding music from the comfort of their homes.
Automation is the second tool, an integral component in a complex machine – which would enable new music creators to take advantage of the numerous music platforms that are saturated with legacy & celebrity music. Spotify, SoundCloud, Tidal & any other streaming service you could think of uses AI and automation for music recommendations tailored to the listeners liking, but in the background, think of how many artists you ended up listening to and liking that were computerized suggestions which you otherwise wouldn’t have found.
An add-on advantage of AI-powered music recommendations is on the business side of things. Listening to a track of any artist big or small ensures that they get paid for it. Likewise, when songs are skipped it affects the remuneration – enter AI to provide you with music you like and would never skip. Everyone is happy!
Lastly, the integration of machine learning (ML) can be very effective, not just for music suggestions & creation, but also for keeping track of music rights & libraries & maintaining records for future generations to take advantage of.
Unlike other instances, AI & ML is a good bandwagon to jump on. The possibilities are limitless and the benefits can be reaped by anyone & everyone.
References – Sound Charts
From a business perspective, managers & studios should expand their portfolio by using these technological advancements, to tap into and invest in, a newer demographic of creators & consumers.
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