New Delhi, May 4 -- Adoption of Artificial Intelligence (AI) can increase revenues by 10 per cent and reduce costs by 15 per cent for media and entertainment companies, Ernst & Young (EY) asserted in a report published during the first edition of WAVES Summit.

The global media and entertainment (M&E) industry is undergoing a dramatic transformation, driven by the proliferation of artificial intelligence (AI).

From content creation and curation to monetisation and distribution, AI is becoming integral to how stories are told and consumed.

"Our analysis indicates that in the medium term, AI can increase revenues by 10 per cent and reduce costs by 15 per cent for media and entertainment companies," the EY report titled 'A studio called In...