Meta’s new Movie Gen artificial intelligence (AI) video creation tool could level the playing field for small businesses in the digital marketplace, experts say.
Movie Gen joins an expanding list of AI-powered video generation tools. In recent months, several major players have introduced or enhanced their offerings in this space. Industry analysts predict Movie Gen’s entry will intensify competition in the eCommerce sector, slashing content production costs for businesses of all sizes.
“Personalized videos have emerged as the most effective tool in cultivating a loyal customer base, with 64% of consumers more likely to make a purchase after watching a personalized video,” Ryan McDonald, COO of Resell Calendar, an eCommerce platform for resellers, told PYMNTS. He sees AI-powered video generation as a game-changer for small businesses, allowing them to compete with larger corporations in creating targeted content at scale.
McDonald said, “With the power of this tool, independent business owners can generate specific videos based on customers’ preferences and/or purchase history with much less time compared to doing it all by themselves.”
This efficiency allows retailers to “spend more time thinking about the ideas of these videos,” whether they’re for “new releases, special offers, product recommendations, or just a simple ‘Happy Birthday!’”
Movie Gen can generate content from user prompts, edit existing videos, and add synchronized sound effects and background music. While the company has no plans to release it for open developer use, it intends to collaborate with the entertainment industry and content creators. The announcement comes amid both excitement and concern in Hollywood over AI’s potential impact on production and copyright issues.
The options for using AI to create videos are expanding. These tools vary in their specific capabilities, output quality, and ease of use, but all share the common goal of democratizing video content creation. They offer features ranging from text-to-video generation to video editing and extension, with some focusing on photorealism while others excel in animation or stylized content.
OpenAI’s Sora, announced earlier this year can create highly realistic videos up to one minute long from text prompts, showcasing advanced capabilities in motion, physics and scene composition. Google’s Lumiere specializes in creating short video clips focusing on realistic motion.
Runway, a startup that has gained traction, released Gen-2 in March 2023. This tool allows users to generate, edit and extend videos using text prompts or image inputs. Stability AI, known for its image generation model Stable Diffusion, introduced Stable Video Diffusion, capable of transforming still images into short video clips.
Another emerging player, Pika Labs, launched its eponymous tool which excels at creating animations and visual effects. Meanwhile, Nvidia’s Vid2Vid technology, while not a standalone product, demonstrates the potential for AI to transform existing video content based on style transfer or scene manipulation.
As platforms like TikTok gain prominence as search engines, particularly among younger people, AI-generated video content could become vital for businesses looking to maintain visibility and engagement. This shift may compel traditional content creators and marketing agencies to adapt to an AI-driven commerce or risk falling behind more tech-savvy competitors.
AI-generated media is likely to become more sophisticated and accessible, and experts foresee changes in advertising strategies, product demonstrations, and customer experiences across digital storefronts. AI text-to-video tools allow businesses to rapidly create personalized content for every use case with just a text script, Brett Lindenberg, CEO of the interactive vide company Mindstamp, told PYMNTS.
“This saves brands hundreds of hours and tens of thousands of dollars compared to creating a traditional video that requires planning, equipment and personnel,” he added. “Tools like Colossyan and Synthesia allow companies to skip directly to the final product and continually revise it to meet emerging needs.”
While AI’s role in content creation is growing, McDonald believes human creativity will remain crucial. “AI will understand your customers best, but only you can bridge the gap between your clients and yourself,” he says, advising businesses to “stay true to your color and use AI as a tool to help that color brighten.”
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