December 1, 2023

Taylor Daily Press

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The former Disney CEO says artificial intelligence could cut the costs of animated films by 90 percent overseas

The former Disney CEO says artificial intelligence could cut the costs of animated films by 90 percent overseas

Jeffrey Katzenberg, former CEO of Disney, said that artificial intelligence could reduce the production costs of animated films by up to 90 percent. A visionary statement that opens the doors to a future where waiting for new masterpieces will become a thing of the past. But amid this technological revolution, concerns are also growing among filmmakers.

In the past, creating a world-class animated film required five hundred talented artists and years of preparation. Katzenberg now expects a radical change. “In three years, it will only take 10% of that time,” he said at the Bloomberg New Economy Forum in Singapore. AI not only helps in creating stories but also speeds up the animation process significantly through automated actions.

According to film producer Jeffrey Katzenberg, artificial intelligence makes animated films much cheaper. © EPA

Shadow of unemployment

But this progress also casts a shadow of unemployment over the industry. Fewer designers and screenwriters will be needed. As a result, an industry that was once driven by creativity now faces the disruptive force of technological efficiency. A revolution that not only changes the craft, but turns the job market in the film industry upside down.

The move from DVD to streaming services has already changed movie studios’ revenue models. With the integration of AI, this transformation will continue even faster. This has led to the recent strikes in Hollywood. Actors and screenwriters are fighting for higher minimum wages, protections from artificial intelligence, and fair compensation from streaming services.

The consumer embraces progress

Consumers appear to be embracing this progress, as evidenced by the steady growth of streaming services like Disney Plus. Despite a temporary dip in new subscribers, Disney Plus has attracted nearly seven million new subscribers worldwide. With shows spanning the Star Wars franchise to live-action interpretations of timeless classics, it continues to captivate movie fans around the world. The future of animated films promises to be faster and cheaper, but above all, it will be full of new possibilities and challenges.

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