Connect with us

Hi, what are you looking for?

Alive Business PlanAlive Business Plan

Stock

Exclusive-Walt Disney forms business unit to coordinate use of AI, augmented reality

By Dawn Chmielewski and Katie Paul

(Reuters) – Walt Disney (NYSE:DIS) is forming a new unit to coordinate the company’s use of emerging technologies such as artificial intelligence and mixed reality, as the media giant explores applications across its film, television and theme park divisions.

The newly formed Office of Technology Enablement will be led by Jamie Voris, who spearheaded development of Disney’s app for the Apple (NASDAQ:AAPL) Vision Pro mixed reality device, according to an email seen on Friday by Reuters.

“The pace and scope of the advances in AI and XR (extended reality) are profound and will continue to impact consumer experiences, creative endeavors and our businesses for years to come – making it critical that Disney explore the exciting opportunities and navigate the potential risks,” Disney Entertainment Co-Chairman Alan Bergman wrote.

“The creation of this group underscores our dedication to doing that.”

Bergman noted the unit will focus on fast-moving areas of technology, such as AI and mixed reality, which blends the physical and digital worlds. It will not centralize work on these projects, but rather, ensure the various projects around the company fit with its broader strategy.

Reuters first reported Disney had formed a task force to study artificial intelligence and how it could be applied across the entertainment conglomerate.

Various divisions within Disney are exploring applications for augmented reality, which places digital elements into the real world, virtual reality, which immerses the user in a simulated environment, and mixed reality which combines both.

Disney has been building expertise across the organization to capitalize on the emerging technology.

For example, Kyle Laughlin, a Disney veteran with a background in augmented and virtual reality and artificial intelligence, returned to the company in March as senior vice president of research and development for Walt Disney Imagineering, the creative force behind Disney’s theme park attractions. He briefly left Disney in 2019 to lead Amazon (NASDAQ:AMZN)’s Alexa Gadgets division.

As Meta (NASDAQ:META) and Snap unveiled a new generation of lightweight glasses that provide consumers a fashionable alternative to bulky VR goggles, Disney has been quietly assembling a team focused on how best to harness the technology to bring new experiences to the company’s theme parks and consumers’ homes, the sources say.

Tech companies have sold about 1.7 million AR/VR headsets so far this year, data from market research firm IDC showed. Meta is still the clear market leader, with a 60.5% market share, but is starting to face pressure in the space from competitors like Sony (NYSE:SONY), Apple and ByteDance.

This post appeared first on investing.com
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Latest News

    The Gateway Pundit, a far-right website, published a note from its editor on Saturday acknowledging that two election workers in Georgia did not engage...

    Latest News

    New majorities in Congress, particularly when the incoming party has a new leader, offer the rare chance for the institution to take a breath...

    Investing

    JAKARTA (Reuters) -Indonesia has asked Alphabet (NASDAQ:GOOGL)’s Google and Apple (NASDAQ:AAPL) to block Chinese fast fashion e-commerce firm Temu in their application stores in...

    Latest News

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...



    Disclaimer: alivebusinessplan.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 alivebusinessplan.com