It’s 2020. We’ve all heard about artificial intelligence and the sweeping changes it’s bringing to how technology is perceived in the reshaping of business landscapes. We’ve heard about how it’s currently actively being used in the health sector, the food sector, and with law and legislation. But how is AI being used in the music sector? How impactful could it potentially be to the future of the industry? These are questions not many of us know the answer to as of yet.
How AI Is Transforming The Creation of Music
Artificial intelligence drives growth and innovation through the complementing and augmenting of human capabilities to a more efficient outcome. In music specifically, it is presently in use for the automation of services, discovering insights and patterns in large datasets, and streamlining consumer experiences with the way music is generated.
The Difference AI Is Making To The Industry
One of the biggest challenges faced by artists and labels is the analysis of stream patterns of particular records to calculate their ROI. With AI, billions of streams over a year can be analyzed and broken down within seconds, and immediate revenue projections made. Another significant challenge is the identifying of different artists and music styles due to the technology-caused increase in the creation of music uploaded online and the saturation of streaming platforms as a result. In March 2018, the Warner Music Group worked in conjunction with a tech startup Sodatone to create an algorithmic platform that used streaming and touring data to identify and evaluate up and coming artists and new talent in the industry. Apple followed suit, acquiring a startup specializing in boosting music analytics.
How AI Is Making Music Generation More Efficient
An artificially intelligent algorithm can be fed data from multiple different compositions, and analyze them to primarily learn the characteristics and patterns of music consumers enjoy. It can then combine elements in unique ways to compose new, enjoyable tracks. A startup, Endel, is using AI to make personalized audio tracks that are designed to boost an individual’s mood and increase their productivity. The ‘Magenta Project’ by Google has already produced songs written, composed, and performed by AI. Sony has created an artificially intelligent system called the FlowMachine, which analyses multiple songs and tracks that follow a specific music style, and uses them to create similar compositions.
The Future of The Music Industry With Regard to AI
According to a recent report by McKinsey, 70 percent of companies are likely to adopt and make use of at least one type of artificially intelligent technology by 2030. The same report states AI also has the potential to increase global economic activity by an estimated $13 trillion by the end of 2030, i.e., a 16 percent higher cumulative GDP compared with today. Top tech companies and record labels have already begun investing in the future of machine created and assisted music. With the ongoing research and innovation, soon this technology will adapt to allow songwriters and artists to take their creativity to a whole new level, making the music industry and market even more competitive.