By Bitwave 
AI-Powered Videos: The Future of Content Creation
Much has been made of AI-powered videos that can either make a real person speak different words or other languages, or generate a synthetic person that can speak on-demand. A few years ago former football star David Beckham helped push the idea into the mainstream via a video from Synthesia, where he spoke different languages as part of a Malaria charity campaign.
Aside from being a source of gimmicks, as well as more serious disinformation, these tools have several real-world applications, and the market is booming. The aforementioned Synthesia raised $90 million this year for its platform, which is used for several things, including generating product videos, as it can generate personalized videos from plain text. To date, it’s now raised a total of $156.6 million.
However, while it’s possible to generate these videos, doing so millions of times over for millions of products is not easy, and can require a lot of manual intervention. This is where Oxolo, a German startup out of Hamburg, comes in with its novel approach using generative AI.
The Power of Generative AI
Oxolo’s technology uses generative AI to create videos that are tailored to specific audiences and scenarios. For example, say a company wants to do corporate training for their employees. Using Oxolo, they can build a video for an employee type, based on management level, gender, geography, etc. The platform can then send out videos that will automatically A/B test their own performance.
If an employee clearly loses interest in one video, then the video is adjusted and replaced with a better performing one on the fly. This same application can be made for product videos, creating better and better performing product videos.
How Oxolo Works
We spoke with Elisabeth L’Orange, co-founder and CCO of Oxolo, to learn more about their platform. "Other platforms have avatars and maybe templates and you have to manually put in the text," she explained over a call. "With Oxolo, you just take a product link – say for socks – paste it into Oxolo, hit generate and you get the whole product video. You don’t need to add anything, and you can edit it."
Oxolo was co-founded by L’Orange, a former venture partner with Neuhaus Partners, and Heiko Hubertz, former founder & CEO of Bigpoint games. Oxolo claims its AI can integrate images, context, text-to-speech and human-based avatars.
The Benefits of Oxolo
As a result of this rather magic approach, Oxolo has now raised a €13 million Series A funding round led by DN Capital. Also participating were German angel investors, including Christian Vollmann, Johannes Plehn, Thomas Hagemann, Stefan Wiskemann, Alex Täubert and Mischa Rürup.
According to Market Growth Reports, the current market size for tools that enable the creation of video advertising content is estimated at $1.0-$1.5 billion in 2023. This number is expected to grow as more companies adopt AI-powered video technology.
The Future of Content Creation
Oxolo’s platform has the potential to revolutionize the way we create and consume content. With its ability to generate personalized videos, it can help businesses and organizations communicate more effectively with their audiences.
As AI-powered video technology continues to evolve, we can expect to see even more innovative applications in the future. Whether it’s creating virtual influencers or generating realistic special effects, AI is opening up new possibilities for creators.
Related Developments
In related news, Synthesia has been making waves in the industry with its own platform. The company raised $90 million this year and has been working with major brands to create customized videos using their technology.
Another startup, MiniMax, recently released new models that they claim are competitive with the industry’s best. These developments demonstrate the growing importance of AI-powered video technology in the market.
Conclusion
The future of content creation is looking brighter than ever thanks to the advancements in AI-powered video technology. With platforms like Oxolo and Synthesia leading the charge, we can expect to see more innovative applications in the years to come.
As the industry continues to evolve, it will be exciting to see how companies and organizations adapt to the changing landscape. Whether it’s using AI to create personalized videos or generating realistic special effects, one thing is clear – the future of content creation has never looked brighter.
Related News
- Synthesia Raises $90 Million for Its AI-Powered Video Platform
- MiniMax Releases New Models Competitive with Industry’s Best