The potential of video analytics and generative AI to revolutionize industries is immense. These technologies are opening new frontiers in automated insights, decision-making, and content generation. By marrying AI insight and audio data, organizations are realizing benefits across the span of business, from increased sales and revenue to enhanced customer experiences and reduced costs. Any organization not exploring these tools risks falling behind the competition.
This post offers a glimpse into the tremendous potential at the intersection of visual and linguistic intelligence. It reveals how we can harness video analytics and AI to unlock game-changing insights, create bespoke buyer experiences, and elevate customer relationships. The possibilities stretch as far as the imagination; and the time to start this exploration is now.
The demand for advanced video analysis and content generation is skyrocketing in today’s digital age. In fact, per Precedence & Straits research, the video analytics industry is expected to reach $50.7 billion by 2032, while the gen AI industry is expected to reach $118.06 billion by 2032. It’s clear that organizations are searching for AI solutions to extract insights from audio transcripts within videos and streamline processes through automation.
Combining the power of analyzing video content at scale and leveraging large language models to generate contextual narratives allows organizations to tap into a new realm of possibilities, including:
Sports Analytics: Leverage gen AI to transform post-game interviews into blog articles. These insights enable coaches to optimize training, strategize more effectively, and spot star talent.
Real Estate Retail: Analyze property walkthrough videos with computer vision, extracting critical details about layout, condition, and amenities. Feed transcripts into generative models to effortlessly construct detailed listing descriptions. AI can then analyze and compare against similar listings to accurately estimate market value.
Retail: Ingredients extracted in real-time from cooking show transcripts. As the chef talks through the recipe, matching items automatically land in your cart. Streamlining the shopping experience for aspiring home cooks.
The Video Intelligence API from Google Cloud and gen AI on Google Cloud offer complimentary video analysis and content creation capabilities. The Video Intelligence API enables businesses to efficiently analyze video content at scale, with features for labeling, speech transcription, shot detection, and more. Meanwhile, gen AI allows for the automated generation and summarization of text, images, audio, and video. Together, these technologies provide a comprehensive solution – the Video Intelligence API extracts vital insights from video assets. At the same time, gen AI leverages those insights to create novel experiences like chatbots, listings, and articles. This end-to-end pipeline from analysis to content creation delivers tremendous value.
Exploring the Synergy:
Imagine a real estate company using the Video Intelligence API to analyze video recordings of home tours performed by a real estate retail agent. The API first analyzes home tour footage, identifying property features and conditions. Transcripts are then fed into a generative model which produces custom listing descriptions for each home. By pairing advanced video analytics with AI-generated copy, properties can be indexed with rich detail – including visual details like layout and amenities and customized descriptive text for each listing. The end result is enhanced exposure on real estate search platforms and a better experience for potential buyers.
The potential applications of video analytics paired with gen AI extend far beyond real estate listings. This powerful combo delivers value across sectors:
- Personalized home search: Leverage multi-modal analytics to personalize the home search for potential buyers. By utilizing Google’s foundation models, organizations can generate text descriptions of homes that match a buyer’s specific criteria. These personalized descriptions can then curate a customized list of homes that align with the buyer’s preferences, significantly enhancing their search experience.
- Search powered by gen AI: Video analytics and Chirp, Google Cloud’s speech model, can be leveraged to automatically transcribe video walkthroughs of homes. This transcription makes it easier for customers to search for specific features or details within the videos. For instance, customers can search for homes with “hardwood floors” or “granite countertops” and quickly find videos mentioning these features. Now, customers are empowered to find their ideal homes more efficiently and effectively.
- Customer insights: The combination of Video Intelligence API and gen AI allows organizations to analyze customer feedback from home walkthroughs. By extracting insights from this feedback, businesses gain a deeper understanding of customers’ likes, dislikes, and preferences. This valuable information can be used to personalize marketing and sales efforts, optimize the customer experience, and even enhance virtual reality walkthroughs for customers who are unable to visit a property physically.
- Question and Answer (QnA) on house features based on video summaries: The Video Intelligence API can summarize the key features of a property from home tour videos. By integrating this summary with gen AI-powered question-answering capabilities, organizations can create an interactive QnA system. Potential buyers can ask questions about the property’s features, condition, or any other aspect, and the system responds with accurate and informative answers based on the video summary. This enhances the customer experience by providing instant access to relevant information and streamlining the decision-making process.
