At a glance
By Rosalyn Page
Businesses of all sizes are harnessing generative AI to create content without the aid of expert video production knowledge, experience and expensive equipment.
AI videos offer finance and accounting businesses a powerful way to streamline video creation and produce customised training, marketing and reporting content at scale.
Innovations in synthetic media and AI video
Synthetic media refers to images, videos, music, animation, voice and text created or manipulated digitally using AI or machine learning.
AI-generated videos are a type of synthetic media, which are finding many applications in business.
Creating an AI-generated video is similar to making a slide presentation where different elements such as text, graphics and audio are combined. AI-generated video platforms include Synthesia, elai and Steve AI.
One of the innovative features of the technology is that it allows the video to feature an avatar or virtual presenter, which is a “digital twin” of a real person based on an individual from their digital photo or someone from the video platform’s avatar library.
By incorporating ChatGPT, it’s possible to generate scripts and other written material spoken by the virtual presenter in the video. It’s important to note that the technology is underpinned by the understanding that humans are driving the creation process and are ultimately in control.
One of the great advantages of making videos using AI technology is that they are customisable at scale, so a single welcome video or report can be adapted across multiple languages or personalised to many different people.
The potential applications are vast, including training materials, employee onboarding, personalised sales pitches and welcome messages.
Elai.io co-founder Vitalii Romanchenko explains, “You can create your own avatar, clone your voice, enter the text and then generate the video content, which might be learning and development content or videos of financial reports”.
Sales departments wanting to do outreach or email follow ups, for example, can tailor the material to the specific person who will receive the video. Marketing lends itself to AI videos, with video brochures, product descriptions, social media posts, blogs and explainers all ripe for bringing to life in video form.
“You can send hundreds of these personalised videos that will boost the conversion rate and open rates – because they are personalised,” Romanchenko says.
“Messages from CEOs or C-suite leaders can be created using their avatar AI with a personal message or specific information for investors, internal teams and customers,” he says.
It’s also simple to create AI video messages for candidates who have not been successful in a job application. In large, global businesses these can easily be translated into many different languages with culturally appropriate virtual avatars.
Accounting and finance applications
Beyond sales, marketing and human resources, there are numerous applications for AI videos to capture accounting and finance-related content.
Training courses and professional development can be delivered in video form, using a mix of written, visual and presenter-delivered information.
Financial reports can be adapted into a video with visuals of metrics and numbers, as well as a voiceover or virtual presenter explaining the information in a more engaging style than a written report. These videos can also be personalised for particular people or departments, and they could even include a director’s report as a personal message presented by their “digital twin”.
Explainer videos could take complex financial concepts or processes, such as filing taxes, superannuation tax savings or retirement planning and break these down with graphs, infographics and charts narrated with a virtual “talking head” explaining how it all works.
Deciphering balance sheets, forecasting, and income and cash flow statements can also be visualised through short, informative videos for different audiences and purposes.
Responsible use of AI
The technology is constantly improving, and AI videos with realistic avatars can be generated for almost any context or subject matter. This raises legal and ethical concerns.
Synthesia, for example, is a member of the Content Authenticity Initiative (CAI).
Romanchenko believes there may come a time when AI video content is required be marked as “synthetic media” or as “artificially created”.
“In a few years, there will be less difference between avatars and humans, so a badge could be the way to identify synthetic media,” Romanchenko says.
The technology is not currently regulated, but the Partnership on AI framework has been developed to promote responsible practices for creating and sharing synthetic media that has been generated or modified by AI.
It is supported by AI video platforms including Synthesia and D-ID, indicating that professional platforms are committed to using the technology in an appropriate way.
“Businesses can be reassured that creating customisable, personalised videos at scale won’t damage their reputation and will enhance their options for connecting with customers, clients and employees,” says Romanchenko.