Minute.ly's AI-Powered Tool That Can Create Amazing Video Highlights
Imagine it's the final of a nerve-racking final match of your favourite sport - be that football, baseball or basketball - and at the end of it all you want to see it all again, but only the best moments. Right now, you would need to wait a couple of hours (or even more depending on the sport) to find a highlight reel of the game, but you want to witness that game-changing touchdown, home run or slam dunk as soon as possible. When editors make these reels, they will presumably need to sift through all of the footage to get the right moments, which can take time hence why it takes so long to make these highlights. Minute's AI-powered deep learning technology can go through all of the videos within seconds and will then go onto creating thrilling teasers.
Today, it was announced that Minute, a Tel Aviv and New York based AI startup, raised $8 million in a funding round that was led by Ansonia Holdings. Other investors included Infront, a leading sports marketing company, and the existing Gilad Shabtai, an expert investor with more than two decades of experience in investments in the technology sector. The money raised today brought the total company funds up to a cool $12 million. Minute's CEO and co-founder, Amit Golan, said that "this investment will enable us to continue to develop and scale our technology" and the funding would help expand the company's international footprint.
Minute's goal is to help content creators and publishers break into the competitive sector of this type of entertainment that focuses on video, and with millions of videos out there, it is not easy. Golan says that "by 2020, streaming video will contribute to 80% of online traffic. That’s a lot of competition, and most publishers won’t generate enough video revenue to cover expenses.” The company's video AI has the power to, and was made to, reel people in with the custom made teasers. It can take the best five seconds of every video and make it into one engaging short video introduction.
The beauty of the machine learning model is that the training data was provided through crowdsourcing, and people decided what they thought was the best part of each clip shown to them. This meant that the algorithm knew what the fans really want to see and it got to prove it worked on the big stage when Minute's AI was used by top broadcasters during the 2018 FIFA World Cup that was hosted in Russia.
This innovative product is not the only AI-powered tool the startup provides. Top Videos collates the best video articles a publisher has, in terms of performance, and can recommend them to readers. Stories by Minute has the ability to update stories on social media, much like Instagram and Snapchat stories that are available to see for only 24 hours.
Minute boasts impressive statistics that claim it can boost a livestream audience by 13% and customer revenue by 37%, so it does not look like the company is going to slow down anytime soon and I, for one, am excited to see where they go next.