iQiyi Targets Aging Population, Leverages AI for Content Production
Chinese video streaming platform iQiyi is shifting its focus to the country’s aging population while employing artificial intelligence tools to enhance content production.
CEO Gong Yu emphasized the importance of catering to older users, highlighting the decline in screen time among those in their 40s and above due to eyesight concerns.
iQiyi aims to improve its product offerings for older users, acknowledging the growing demographic as a significant segment of the market. The company estimates that one-fourth of China’s population will be considered elderly in 2033, rising to one-third in 2053.
To enhance content production, iQiyi is leveraging AI tools. Chief Technology Officer Liu Wenfeng showcased the company’s capability to quickly imitate multi-camera shots in a virtual environment and emphasized the reusability of virtually created elements in a potential metaverse.
iQiyi’s AI tools can also significantly reduce the time spent analyzing novels for production-worthy stories and detect audience preferences. The company has not disclosed specific details about its AI capabilities due to confidentiality but indicated that partner creators can access more information.
iQiyi plans to explore opportunities in overseas markets as growth in China moderates. The company recently reported its first profit since its U.S. listing in 2018.
iQiyi’s focus on the aging population and utilization of AI for content production demonstrate its commitment to adapting to changing market dynamics and enhancing the user experience.
