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Decentralizing video production: The impact of blockchain and generative AI Generative AI is transforming the streaming landscape, enabling a broader range of creators to produce high-quality content quickly, thus challenging traditional industry power dynamics. Replay utilizes generative AI and blockchain technology to democratize video creation, tracking and distribution, leveraging the power of THETA EdgeCloud for distributed AI processing. Initially heralded as the disruptors of traditional Hollywood, streaming services have gradually become the new gatekeepers. Limited by the content they curate and governed by opaque algorithms, streaming services often control what gets produced and what falls by the wayside. The centralization of current streaming services dictates audience choices and limits opportunities for creators. Most funding flows to a select group of large studios capable of producing high-budget projects, leaving independent creators to navigate slow payment cycles and significant barriers to entry. Generative AI to democratize video production Generative artificial intelligence (AI) technology promises to shift this imbalance. With the ability for individuals or small teams to quickly produce video content that rivals the quality of major studio productions, the traditional power dynamics within the industry are being challenged. The technology enhances production capabilities while democratizing access, enabling a broader range of creators to enter the space. Replay, the blockchain developer behind Web3 streaming service Rewarded. TV, is stepping forward with ambitious plans to redefine video creation and distribution using generative AI. With the introduction of its native RPLAY token on the global exchange MEXC, Replay is driving its ecosystem toward a more inclusive model where creators and viewers have direct stakes in the content they produce and consume.

Google says no ‘straight line’ between generative AI and unemployment — for now A new study published by Google highlighted the economic repercussions of generative AI and its probable influence on employment trends and workforce dynamics. Google said that it has found no “straight line” between the spread of powerful technology such as artificial intelligence (AI) and unemployment, according to a new study. On April 25, the Big Tech company published the study, conducted by Andrew McAfee, the principal research scientist at the MIT Sloan School of Management, on the global economic impact of generative AI. It was revealed that there is currently no direct correlation nor is this something to change “at least in the short run,” due to limitations of the technology. The report said: “It is not yet able to reliably do multi-step work that involves planning, reasoning, or memory.” The study cited previous work in 2023 that administered hundreds of questions requiring the aforementioned skills to both humans and top-performing AI systems. On average, humans scored 92% correct answers, while machines came in at only 15%. Nonetheless, the study said that generative AI is on track to improve quickly with “intense research” to understand how to troubleshoot its weaknesses. Related: OpenAI hit with privacy complaint in Austria, potential EU law breach It used an example of OpenAI’s GPT-3.5 system, the version released in late 2022 that was a major catalyst for the current AI frenzy, performing better than only 10% of humans on the United States bar exam. Its successor, GPT-4, performed better than 90% only a year later. It concluded that “there is no shortage of important work to be done in every society. A great deal of this work… can’t be done by the robots and AI of today, as powerful as they are.” The new Industrial Revolution The Google-released study called AI a “general purpose technology” and likened it to the steam engine, which was the spark that ignited the global Industrial Revolution in the late 1800s. Unlike the gradual spread of technology during the Industrial Revolution, the impacts of generative AI are anticipated to manifest more swiftly. The study highlighted primarily that this is due to the existing infrastructure being largely in place, allowing for swift global implementation of improvements and because it is easily accessible for people to begin working with. “Most generative AI’s users don’t have to master a new user interface or programming language… It requires time and practice to become proficient at interacting with generative AI, but it doesn’t require many ‘computer skills.’” Transforming the workforce According to the study, while the technology may not cause “massive technological unemployment,” there is enough evidence that it could contribute to “hollowing out” the labor force among higher-paying jobs. “For all the work done in a modern economy finds that generative AI affects more of the tasks done by college graduates than by high-school only graduates.” There is also potential for the technology to disrupt the way competition between businesses plays out. The report states that generative AI could further empower a small group of “superstars” in a given industry in a way that would allow them outpace their rivals. “Fading incumbents will conduct layoffs, and the number of people who need to find new jobs and acquire new skills will increase,” it said. However, according to research, companies that had invested heavily in machine learning were not the ones conducting layoffs