In a world where technology romances with us at every stage, let’s look at how algorithms add rhythm to our musical experiences on a day-to-day basis
Music is therapy, more so if you’re listening to your favourite songs without having to look for them. A continuous experience of enjoying the kind of music you love is a treat in itself. It’s convenient when you don’t have to select the songs one after another as your app’s algorithm ‘predicts’ your interest and shows music recommendations that appeal to you. Algorithms are basically a set of rules that are followed to perform an activity by the computer/device. These rules tell the app what your preferences are and you get those kind of song recommendations. Research states the online music streaming subscriptions will cross 450 million subscriptions by the end of 2020, which is now a reality!
High on AI
We are living this imagination of automated musical experiences ever since Artificial Intelligence (AI) took over the music experience. A variety of songs are available with one click, thanks to the algorithmic tools. Some of the types of tools are:
- Collaborative filtering tool: People who prefer this song also like the other one
- Themed recommendations: Different songs from the same artist you like
- Preference-based playlists: A series of songs based on your choice
- Atmosphere-based playlists: Songs based on your moods
Artificial Intelligence has brought about a revolution in the music industry. Music streaming has grown by leaps and bounds becoming the most preferred user experience at the moment. While we engage with music streaming apps and the search engines to look for our preferred songs, data is collected and we get music recommendations based on our listening history.
Intelligent algorithms make it easy for listeners to have a seamless experience. Just select a few songs and the apps recommend you the songs as per a pattern of your tastes and preferences. It’s a great way to discover your type of songs among the millions that you might take ages to explore. These are the perks of living in a world that thrives on technology. The possibility of AI composing music is not far from reality looking at the speed at which technology is transforming the music industry.
The Exponential Music Industry
The music industry is experiencing an exponential growth by embracing technological advancements. According to Goldman Sachs, the music revenue will grow to about $131 billion by 2030. With such whopping revenue numbers, we are sure to experience even better streaming services. The Indian music industry is estimated to reach 20 billion rupees by the end of 2022 which in itself is a huge opportunity. An opportunity that unlocks the potential of music-related businesses. Investment in technology will be at its peak owing to the endless possibilities.
Algorithm-based music is just the tip of the iceberg. There’s immense potential in this space which will definitely surprise us in the years to come. We will soon enjoy the music of the future wherein our apps understand our minds and play songs to suit the occasion. Till then let’s enjoy the next track that our intelligent algorithms have lined up.