Twelve Labs (CEO Jaeseong Lee), a startup developing image understanding artificial intelligence (AI) technology, announced on the 10th that it has secured strategic investment from content production company Firstman Studio.
First Man Studios is a production company led by director Hwang Dong-hyeok, known for directing the Netflix series "Squid Game." The content production company's direct investment in video AI technology is seen as a prime example of the practical application of AI technology within the entertainment industry.
Twelve Labs possesses multimodal AI technology that comprehensively analyzes visual, auditory, and textual information within a video to quickly locate desired scenes. This technology is currently being utilized by global studios, OTT platforms, and broadcasters to improve the efficiency of searching and reusing vast video archives.
Hwang Dong-hyeok, CEO of Firstman Studio, said, "Twelve Labs' technology is useful for creators to realize their ideas more quickly and precisely." He added, "This is a strategic decision to respond to the changing global content production environment."
According to industry sources, only about 5% of the video archives held by global studios are actually utilized. This is because the process of finding and reprocessing necessary footage on-site is time-consuming and cost-inefficient.
Twelve Labs focuses on creating new added value by leveraging existing content, and is expanding its use cases in various areas such as video editing, automatic selection of advertising scenes, and sports highlight extraction through metadata-based scene-level indexing technology.
With this investment, Twelve Labs plans to strengthen its position in the global market by establishing a collaborative model between video AI technology and content production capabilities. The company stated that it is expanding collaboration with content production companies, particularly in North America and Europe.
Twelve Labs CEO Jaeseong Lee said, “This investment is a validation that video AI technology can solve real-world problems in the content industry,” and added, “We will continue to focus on research and development to help creators realize greater possibilities through technology.”
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