Surged Demand for short-form video production due to popularization of video platforms

Difficulty in using existing editing tools such as Premiere Final Cut

Developed AI video editing such as Voyager X Wayne Hills Beans Soft

Recently, the competition to develop an artificial intelligence (AI)-based video editing solution that can easily produce short-form videos by anyone, regardless of age or gender, is getting fiercer.

In the YouTube era, the demand for individual video production is increasing, but it takes an average of 5 to 8 hours to edit a 10-minute video with existing video editing tools. Therefore, the market's thirst for a new solution that allows even beginners to easily edit video is growing.

According to related industries on the 25th, domestic software development startups such as Voyager X, Wayne Hills Ventures, BeansSoft, and SM Systems are spurring the development and marketing of next-generation video editing production tools using AI competitively.

On the 22nd, Voyager X (CEO Nam Se-dong), an AI software startup, succeeded in attracting a total of 30 billion won in investment from Softbank Ventures, Altos Ventures, and Yellow Dog, 10 billion won each.

Voyager X is targeting the global market by launching 'Vrew', an AI-based video editor that can edit quickly and easily as if editing a document with Word, breaking away from the existing timeline-based concept of video editing.

Based on this investment, the company plans to hire 100 more developers to further advance its brew products and services.

Lee Jun-pyo, CEO of SoftBank Ventures, who participated in this investment, told Thestock, "I thought that it was an important investment requirement whether it was a field that could innovate based on AI technology, had marketability, and was targeting the global market." It is a place that satisfies all of them, and we expect it to grow into a global company in the AI technology market that will be directly linked to national competitiveness in the future.”

'Wayne Hills Ventures (CEO Soo-Min Lee)' is also a start-up with an innovative video editing tool. The company is developing 'TTV (Time to Video) software' that uses AI to convert a page of Korean text into video content in 3 to 4 minutes.

TTV automatically summarizes the content by inputting audio or text into the software and analyzes the summarized keywords to automatically search for images, animations, sound effects, sound sources, and videos that match the story in its own database and turn it into a video.

In recognition of its technological prowess, the company was selected as a target company for 'TIPS', a private investment-led technology startup support program conducted by the Ministry of SMEs and Startups on the 23rd.

Lee Sumin, CEO of Wayne Hills Ventures, said, “In the past, many services related to STT (Speech to Text) technology through AI voice recognition have been released in the market, but based on a vast amount of DB like us, even non-specialists can produce high-quality video content above the professional level. It's hard to find software that can do this."

BeansSoft (CEO Jun-taek Lee), a software development start-up in the Daegu area, has developed an 'AI Tube' app that allows AI to recognize audio in a video as text and edit the video as if editing a document based on it.

The company explained that iTube can edit text six times faster than existing video editors because when users paste or cut text as if editing a Korean document, the video linked to it is also automatically edited. iTube is currently available as an Android app, with an Apple app coming soon.

'SM Systems (CEO Lee Seung-hwan)', which has specialized in building CCTV control centers, contracted with Letod (CEO Kim Yeon-hee), the operator of the fandom-based live streaming platform 'Culture Bridge Cider', to develop AI technology for one-person media video production in May. SM Systems also signed an AI video technology development agreement with T&K Entertainment, a vocal home training platform.

SM Systems is developing an AI short-form video generator, and Letod and T&K Entertainment are planning to use it to produce and use short-form videos for their artists and fans.

Source: The Stock (http://www.the-stock.kr)