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Home»Blockchain»SM Entertainment’s founder pushes for AI and blockchain adoption in K-pop
Blockchain

SM Entertainment’s founder pushes for AI and blockchain adoption in K-pop

2024-06-24No Comments3 Mins Read
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As the South Korean government continues to invest in the development of artificial intelligence (AI) systems, a K-pop pioneer is amplifying calls for an industry-wide embrace of the technology.

According to a report from the Korea Herald, Lee Soo-man, founder of SM Entertainment, has urged industry participants to increase adoption rates for AI in the creative sector. The music veteran made his views known through a keynote address at the annual meeting of the International Confederation of Societies of Authors and Composers.

In his speech, Lee argued that AI has the potential to bring new creative impetus to the South Korean entertainment space, providing new strategies for fans to connect with their favorite creators and idols.

“AI and chatbot technologies are changing the way creators and consumers communicate at the speed of light,” says Lee. “AI will help K-pop connect with its fans around the world.”

Lee added that songwriters can use generative AI to aid in the songwriting process, while PR teams can lean on the offering to keep consumers informed. According to his submission, AI could be the final piece of the puzzle to give K-pop a competitive advantage over its global peers.

While his speech highlighted a series of positives in AI, Lee said challenges also plague full AI adoption in South Korea. The veteran raised the alarm over the increasing cases of copyright infringement by AI developers and illegal distribution of content.

Lee revealed that AI significantly disadvantages creators in terms of economic loss, with AI companies raking in a fortune from the intellectual properties of artists, composers and writers. Other disadvantages arising from AI include the risks of data breaches and disinformation from bad actors through deep fakes.

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To solve the challenges, the K-pop legend has urged stakeholders to turn their eyes to blockchain, calling for the integration of both technologies. South Korea has significant experience with blockchain, but Lee says seamless integration will only be possible by establishing minimum operational standards.

“If the standards for smart contract systems (of blockchain) regarding content royalties, license management, etc. are made uniform worldwide, it will be optimal for protecting creators’ property rights,” Lee said.

A heavy investment in AI

After significant investments in blockchain, the South Korean government seems keen to follow the same path by announcing a series of heavy AI investments. In April, South Korea’s President Yoon Suk Yeol confirmed plans to invest $6.9 billion to support the local AI ecosystem and deepen the talent pool.

The country is also focusing on use cases related to public services, with insiders pointing to an investment of $526 million. One report found that the fund will be dedicated to supporting up to 18 AI use cases in healthcare, education, entertainment and internal government processes.

To ensure that artificial intelligence (AI) can function within the boundaries of the law and thrive in the face of growing challenges, it must integrate an enterprise blockchain system that guarantees the quality and ownership of data input, thereby it can keep data safe while guaranteeing immutability. From the data. Check out CoinGeek’s coverage about this emerging technology for more information why Enterprise blockchain will be the backbone of AI.

Watch: Is It Time to Use Blockchain Technology?

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