PromoMii launch AI-powered software to boost video editing
The tool allows users to search their video content and archives in detail for things such as objects, shot types, words, activities, emotions, and people. This enables them to instantly find key clips within their footage. The software allows content to be 100% searchable within a matter of seconds, speeding up workflow by 70%, and up to 90% savings in costs, according to PromoMii. Nova A.I. is already being used by multiple broadcasters and media houses globally including Disney, Nordic Entertainment Group and SVT.
How does Nova A.I. improve video creation?
According to the company, to make a 10-second promo video for digital or social media, an editor can spend +3 days and + £500, with 90% of their time is spent viewing and finding scenes. Recent announcements of the TV and film sector facing 100,000 job cuts as part of "saving packages", was also an indicator to PromoMii of the need to streamline video editing processes and workflows for content owners.
Nova A.I. combines computer vision and recognition technologies, allowing creators to fast-track their way through footage and original content to find specific clips and scenes. The smart software understands 30 languages, is able to recognise and transcribe audio to text, and automatically create subtitles. The platform is user-friendly, meaning a variety of content creators can use it, from film editors working in broadcast or freelancing to Youtubers, archives, plus small and large-scale businesses.
“There is a growing demand for more content without raising budgets accordingly. Content creators simply do not have the time or means to create enough content. Archives do not know what their archives contain. With Nova A.I., we have aimed to remove the most time-consuming part of the process of working with video, to allow users to produce more content of higher quality and manage their archives efficiently.” said Michael Moss CEO and Co-Founder of PromoMii.
Nvidia’s platform for AI startups passes 8,500 members
NVIDIA Inception, an acceleration platform for AI startups, has now surpassed 8,500 members. That’s about two-thirds of the total number of AI startups worldwide, as estimated by Pitchbook.
NVIDIA Inception is a programme built to accommodate every startup that is accelerating computing, at every stage in their journey. All programme benefits are free of charge and startups never have to give up equity to join.
Since Inception’s launch in 2016, it has grown more than tenfold. With total cumulative funding of over $60 billion and members in 90 countries, NVIDIA Inception is one of the largest AI startup ecosystems in the world. Growth has accelerated year over year, with membership increasing to 26% in 2020, and reaching 17% in the first half of 2021.
Data from across the world
Inception figures show the United States leads the world in terms of both the number of AI startups, representing nearly 27%, and the amount of secured funding, accounting for over $27 billion in cumulative funding. 42% of US-based startups were in California, with 29% in the San Francisco Bay Area.
Behind the US is China, in terms of both funding and company stage, with 12% of NVIDIA Inception members based there. India comes in third at 7%, with the UK right behind at 6%.
AI startups based in the US, China, India, and the UK account for just over half of all startups in NVIDIA Inception. Following in order after these are Germany, Russia, France, Sweden, Netherlands, Korea and Japan.
In terms of industries, healthcare, IT services, intelligent video analytics (IVA), media and entertainment (M&E) and robotics are the top five in NVIDIA Inception. AI startups in healthcare account for 16% of Inception members, followed by those in IT services at 15%.
More than 3,000 AI startups have joined Nvidia Inception since 2020. “Some countries are accelerating their ecosystem of AI startups by investing money and encouraging the local players to create more companies,” said Serge Lemonde, global head of Nvidia Inception, in an interview with VentureBeat.
“In our programme, what we are looking at is to help them all,” Lemonde said. “The lesson here is really having this window on the landscape and helping the startups all around the world — [this] is helping us understand the new trends. We can help more startups by developing our software and platforms for the upcoming trends.”