Relevant technologies and future of technology in the music space
Questions I answer:
- What technologies shape the work of this organisation?
- What challenges or opportunities do these provide?
- What kind of future do I see for these technologies?
Adventure Corporation is focused on using emerging technologies to create web based products, software tools and learning frameworks. These emerging technologies shape the work of the organisation and include: blockchain, cryptocurrency (tokens), augmented reality, virtual reality, artificial intelligence, IoT and other web technologies. All these frontier technologies will become more prevalent as technology continues to advance and that is why we pride ourselves on being an innovative, practical and results-oriented organisation. And now, with our focus on Music 3.0 (the next generation of music), these technologies are becoming more important for us to use in ways that will revolutionize the music space. I have learnt a lot about these different technologies and their applications, and am excited to see how much impact Adventure Corporation can have by using these technologies to build innovative products.
I see a great future for these technologies through creating great opportunities for people (especially in the music space), but there will definitely be challenges along the way. As shown by the image above, Adventure Corporation wants to take user music preferences and build a social community. With the help of AI models and machine learning algorithms, all of these inputs can be taken, and new music experiences can be created and outputted. Our thesis and current mission is focused on Music 3.0 and based on the following technologies:
- Artificial Intelligence: Use models to create new music resulting in a Cambrian explosion of content
- Blockchain & Cryptocurrency: Act as the engine for monetization, ownership and attribution
- Augmented and Virtual Reality (AR/VR): Create immersive and collaborative music experiences
There are definitely a lot of challenges and opportunities that come with these technologies. The opportunities are numerous and so much can be created by using these technologies. Blockchain, artificial intelligence and AR / VR, can change music experiences, from creation to consumption, completely. It is just like how Instagram and smartphones changed the field of photography, converting amateurs into professional photographers, through developments in software and hardware. Other types of media have been disrupted and have evolved through the use of new technologies and the internet. There has been a lot of investment in developing the video space (through streaming and creating other experiences), but not a lot has been done in the music space.
I believe that the music space is going to change over the next 10 years, with the opportunities provided by the application of emerging technologies. AI has been applied in other media forms but can be used to create new music with very simple inputs from users. There won’t be a need for expensive equipment and software used by music producers now. A simple app and interest can drive music creation for anyone and make it more accessible for people who might not have the technical skills to produce music with existing tools. People’s imaginations and creativity can be converted into actual practical results, through user-generated content, based on AI-generated music. AR and VR can be used to create interactive and collaborative environments for artists and fans to enjoy and share music together. New models will emerge, especially with the rise of blockchain and cryptocurrency tokens. Songs can be treated as tokens that travel across blockchains and store important information based on user and artist preferences. This is an entirely new way of viewing and thinking about the music industry, and it can lead to new business models and standards, paving the way for a whole new subindustry.
But with all these developments and improvements comes a lot of technical challenges. These new technologies are hard to use and require a lot of training, experimentation and practice. It is hard to get specific outcomes and there will always be unseen side-effects with the advent of new applications of these technologies. These include issues surrounding the ethics of AI and the black box problem, where decisions are made by AI without humans knowing the process. New standards will have to be created along with players that can function with AI-generated music. Music token standards will have to be defined if blockchain is used, which can be difficult, as this is still a burgeoning space.
There are also social and cultural challenges that come with new applications of technology. Some people don’t like to adapt but may be forced to. For example, if music creation becomes easier, then this will result in professional artists competing with amateurs, diluting the music industry itself. So, a lot of consideration of potential impacts and prudence has to be exercised before releasing and applying these technologies. From my experiences and research, I truly believe that the music industry is going to experience a lot of change, specifically through technology, over the next decade.