Month: September 2024

Among all the copyright lawsuits around AI companies that trained their models with IP they didn’t own, it is great to see an announcement about an AI company working with an IP owner. Runway, a company specializing in AI, has partnered with Lionsgate, a major film studio, to develop and train an AI model based on Lionsgate’s proprietary film catalogue. The model aims to help filmmakers, directors, and creative professionals enhance their work, generating cinematic videos that can be refined using Runway’s tools. The collaboration focuses on using AI to streamline both pre-production and post-production processes in filmmaking. The partnership is seen as a strategic move to capitalize on AI’s potential in content creation, making processes more efficient and innovative. Runway is also exploring offering these AI models to individual creators and other companies.

There are probably a few relevant points:
1. Innovation in Filmmaking: This is a significant step toward integrating AI into the creative process of filmmaking. This will allow filmmakers to experiment with visual styles, streamline workflows and potentially reduce production costs.
2. Industry Trend: There is a growing trend toward media and entertainment companies leveraging AI for efficiency in content production. This trend is mostly driven by cost reduction concerns.
3. Competitive Edge: This move will give Lionsgate a competitive edge and position them as a leader in tech-driven content creation.

https://runwayml.com/news/runway-partners-with-lionsgate

There has been considerable hype and fear around the impact of AI on jobs and careers. Reports of CEOs planning headcount reductions due to AI and estimations of the ability of current AI to replace many of the tasks that make up jobs today have people understandably concerned. Since the release of the paper GPTs are GPTs (https://openai.com/index/gpts-are-gpts/) last year, I’ve been trying to understand what that means for Canada. Our economy has traditionally been in resource extraction and manufacturing although our modern economy is dominated by real estate, rental and leasing, making up 13% of our GDP (Economy of Canada. (2024, September 3). In Wikipedia. https://en.wikipedia.org/wiki/Economy_of_Canada). So what kind of exposure does Canada have to AI job disruption and displacement?

In a recent study that should make Canadian businesses take notice, researchers have uncovered the staggering impact of artificial intelligence (AI) on the nation’s labour market. The newly released report, “Experimental Estimates of Potential Artificial Intelligence Occupational Exposure in Canada,” paints a vivid picture of the impending transformation that should have every Canadian professional sitting up and taking notice (https://www150.statcan.gc.ca/n1/pub/11f0019m/11f0019m2024005-eng.htm).

The findings aren’t surprising but they should be creating much more conversation. We could see 60% of Canadian employees suddenly finding their roles dramatically reshaped by AI. This is higher than research on the American workforce that uses a similar research methodology. The implications go far beyond the traditionally automation-prone roles, with nearly half of these positions highly complementary to the latest AI technologies.

The study’s authors, Tahsin Mehdi and René Morissette, have meticulously mapped out the industries that will bear the brunt of this shift. Professionals in the fields of finance, healthcare, education, and even the vaunted tech sector should brace for a fundamental rewrite of their job descriptions. Conversely, the construction and hospitality industries appear relatively insulated from the AI onslaught.

The study does has some positive elements. The researchers have identified a critical nuance—the “complementarity-adjusted AI occupational exposure index.” This metric suggests that many highly educated roles may actually benefit from AI, leading to a transformation rather than outright job losses. Despite this, the message is clear and consistent with other studies. The Canadian workforce will need to adapt or risk obsolescence.

As the authors emphasize, the long-term effects of AI on employment remain uncertain. Yet one thing is clear: the Canadian workforce must be prepared to navigate this uncharted territory. Businesses that fail to anticipate and address the implications of AI will risk being out-competed by companies that use AI effectively.

For most companies, the time to act was over a year ago, but Canadian companies can still act now. The future of work is being re-defined, and the professionals who can harness the power of AI will thrive in the years ahead.

Reference

https://www150.statcan.gc.ca/n1/pub/11f0019m/11f0019m2024005-eng.htm