HOW MUSIC STREAMING SERVICES ARE TAPPING INTO THE AI VIBE
Rajasimha Koppula
Artificial intelligence (AI) is the design, implementation and use of programs, machines, and systems that exhibit human intelligence. Furthermore, with its most important activities being knowledge representation, reasoning, and learning, AI encompasses a number of important sub- -areas, which include: voice recognition, image identification, natural language processing, expert systems, neural networks, planning, robotics, and intelligent agents. According to a McKinsey & Company study, in 2016, companies invested 26to39 billion in AI. In addition, since 2013, investments have increased by three times.
An overview of the music streaming industry
In 1999, the music industry market size was less than half of today. What provoked this growth, you ask? The answer is simple: the internet. The technological advancements of the internet grew at a rate of 200% around the globe between 2000–2018, taking the music industry to new heights.
According to the Financial Times, the internet played a catalyst role in online music streaming industry growth. Major music service providers, such as Spotify, Apple, Pandora, and Amazon are taking music services to the next level by integrating AI with their music streaming platforms.
Today,music streamingservicesarehelpingusersbyutilizing technology to understand customers’ tastes by using AI and recommending more comparable songs on a timely basis.
Traditionally, any business owner utilizes data analytic tools to diagnose, group, predict, and understand customer requirements to make an appropriate business change/service recommendation. For the music industry, due to the rapidly growing number of customers, and the wide variety of choices now available, traditional tools don’t cut it anymore. Incorporating AI and machine learning technologies into music streaming algorithms is quickly becoming the new norm. If a music service provider can’t ‘guess’ what a user wants to hear, the user will most likely switch to one that can.
From: <https://www.prescouter.com/2018/03/music-streaming-services-ai/>
Glossary: Tapping into:tirandoproveitode; encompasses:abrange; networks: redes; rate: taxa; heights: alturas; owner: dono; proprietário;requirements:exigências;guess:adivinhar; switch:trocar,mudar.
Voice recognition, image identification and natural language processing are mentioned in the text as examples of
