Amitabh Bachchan's Ikonz Ventures Into Generative AI

Amitabh Bachchan, an Indian film legend, is launching a generative AI studio, aggregator, and digital IP monetization platform called Ikonz.

Ikonz, which already collaborates with Indian graphic books franchises such as Amar Chitra Katha, Tinkle, and Chacha Chaudhary, has expressed its goal of "bringing together advanced technologies and cultural icons to create a new era of interactive entertainment."

Swati Bhat

Generative AI is a form of artificial intelligence (AI) system that may generate text, graphics, or other media in response to prompts, with current notable examples including ChatGPT and Bing Chat.

The Ikonz team is collaborating with Bachchan to capture his iconic characteristics and give an experience to fans all around the world. Customers in India will be able to interact with Bachchan at various locations and have him interact with them instantly when it launches at the end of 2023.

"It's a momentous day for Ikonz as the true symbolism of our name has been derived with the icon Amitabh Bachchan joining forces with us," stated Abinav Varma Kalidindi, founder and CEO of Ikonz. We will work together to harness the power of generative AI to build immersive experiences that transcend physical bounds. With our cutting-edge technology, fans will be able to connect with their favorite actors like never before. Who knows, maybe you'll be able to take selfies with Amit-ji in your town."

"I am fascinated by the way technology is evolving and the rate at which new innovations are emerging globally, one of which is generative AI," Bachchan remarked. I am thrilled to be a part of such an exciting future world of generative AI and have thus joined with Abinav-endorsed Ikonz. We will begin on this new metaverse world together."

Village Global, a venture capital group supported by Mark Zuckerberg, Jeff Bezos, Bill Gates, and Reid Hoffman, is among the investors of Ikonz. Woodstock and Polygon have both invested in the startup, as has "Baahubali" star Rana Daggubati and Prasad Vanga's Anthill Ventures.

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Artificial Intelligence in Tourism and Hospitality Raises Data Privacy Concerns!

The impact of artificial intelligence on our daily lives is already being felt; yet, there has been little investigation into the ethical implications, which could be concerning. The Tourism and hospitality area holds a unique array of stakeholders that are central to human values. Systems with Artificial Intelligence in Tourism and Hospitality use vast amounts of personal and confidential type data which raises privacy concerns.

Dr. Jassim Haji, Bahrain

With technologies playing a vital role in multicultural interaction it is imperative that applied research is paid attention to. The Tourism and hospitality area holds a unique array of stakeholders that are central to human values. A conceptual framework would include ‘Human-human-AI’ interaction levels, direct and indirect stakeholders, and the macro environment overall. There are several reasons why the importance of Artificial Intelligence ethics in Tourism and Hospitality is important, firstly AI in this field can learn to make decisions on complex and big data easily, and managers have already transferred some of this decision-making process. Questions of control and accountability are raised when such action is taken so quickly. In parallel, AI systems in Tourism and Hospitality use vast amounts of personal and confidential type data which raises privacy concerns. The use of AI in companies within this field is also influenced directly by many stakeholders whose interests and security could be affected (Airlines, Hotels, Tour Operators, Museums, Restaurants, etc.).

An example would be when an AI system might decide to increase prices for the fare for flights for some passengers and decrease them for others, based on the willingness to spend, but by doing so the AI system could violate not international or governmental laws, but the fairness of the airline’s revenue management practice due to the unequal basis of proportions. A pricing strategy could influence the revenues of a company, and therefore undermine its competitiveness and impact the intermediaries such as a travel agency which would on a commission-based model AI will continue to advance and there is no exception within the Tourism and Hospitality industry.

However, the adoption of AI technologies needs to be implemented ethically to ensure that human values are respected and designed for. Theoretically, there is a fundamental realization that AI systems that are ubiquitous and pervasive can cause detrimental impacts and those impacts could be crossing national boundaries and impact different societies and cultures. Given these impacts, a conceptual approach that centralizes all affected stakeholders plus their values must be taken into consideration when designing these systems. Organizations must work with industry partners when developing systems that want to adopt to produce automated decisions based on big data – this will then lead to the adoption of addressing any ethical issues.

A centralized human value chain is required at the design level of any implementation of AI, and not doing this would incur biased and uneven AI systems making decisions that adversely impact the organization and those affiliated with them. The enrolment of stakeholder input at the conceptual stages is the key to the fair ethical use of AI systems within the Tourism and Hospitality sector, and given its growing importance to countries, governments, people and businesses, it should be seen as a vital first step. Those interacting with the technology on a first-hand basis must be in constant contact with the design and widespread impact of the dynamic AI system.

What is the role of AI in the travel and hospitality industry?

Artificial intelligence (AI) has had a tremendous impact on the travel and hospitality industries by automating operations, improving consumer experiences, and delivering personalised recommendations. It is used for customer service chatbots, demand forecasting, pricing optimisation, and virtual assistants for travellers and make decisions based on data

How has AI improved customer experiences in the travel and hospitality industry?

AI has enhanced customer experiences in a variety of ways. Chatbots powered by AI respond instantly to consumer enquiries, making it easier for travellers to locate information and book reservations. Customer data is analysed by AI algorithms to provide personalised suggestions for accommodations, activities, and trips. AI-powered virtual assistants support and advise travellers in real time on their journeys.

What are the AI applications in the travel and hospitality industry?

In this industry, AI is applied in a variety of applications. AI-powered recommendation systems, for example, analyse user preferences and behaviour to provide personalised travel itineraries or accommodation selections. AI chatbots answer client concerns and respond instantly, saving time and improving customer service. AI is also utilised in airports for fraud detection and prevention, security inspections, and facial recognition.

How has AI impacted the efficiency and operations of travel and hospitality businesses?

The use of artificial intelligence has substantially enhanced the efficiency and operations of travel and hospitality organisations. It automates operations including data entry, reservation administration, and payment processing. To optimise pricing, manage inventory, and estimate demand, AI systems analyse vast databases. This assists firms in streamlining operations, reducing or increasing costs, and making data-driven decisions.

Are there any concerns or challenges associated with AI in the travel and hospitality industry?

While AI has many advantages, there are certain problems and challenges to consider. One source of concern is the possibility of job losses when AI automates specific functions. The acquisition and use of client data raises privacy and security concerns. Furthermore, integrating AI systems with existing infrastructure and guaranteeing seamless interactions between AI and human personnel may pose hurdles.

How is AI expected to shape the future of the travel and hospitality industry?

AI is likely to play a transformational influence in this industry's future. Personalization will continue to grow, with AI algorithms becoming progressively better at identifying and addressing unique client wants. AI-powered virtual reality and augmented reality experiences could become more common, allowing travellers to virtually explore destinations. Furthermore, AI may continue to increase operational efficiency, resulting in better cost management and more sustainable practises in the sector.

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What should you know about Nitesh Tiwari's 'Ramayana'?

For magnificent Ramayana visuals, Nitesh Tiwari will collaborate with Brahmastra and Dune VFX master Namit Malhotra.

Swati Bhat

According to an industry insider, "Ramayana is going to be one of the biggest films to come out of India and is backed by one of the world's most prominent visual effects companies." Nitesh Tiwari, one of the top filmmakers in the country, is currently working full-time. The cast for the film is one of the largest ever assembled for an Indian film. The film's production will commence towards the end of this year."

In recent days, much has been said about Nitesh Tiwari's epic Ramayana. Namit Malhotra, an Indian and Hollywood VFX expert, has together a team of the top VFX and filmmaking talents to produce Ramayana.

It will be one of the largest teams of qualified specialists from all over the world, all working under the guidance of Nitesh Tiwari. The aim is to have a large VFX team, a large cast, and massive sets. That is how Nitesh envisioned creating the Ramayana world."

Nitesh Tiwari and Namit Malhotra want to ensure that the graphics and grandeur of the film are appropriate for the mythological epic.

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