### Generative AI Revolutionizes Film Production, Slashing Costs and Opening New Investment Frontiers

Leaders from the Asian film and tech industries convened at TIFFCOM, the market event associated with the Tokyo International Film Festival, to discuss the transformative effects of generative AI on film production. Highlighting its potential to drastically cut costs and unlock new investment opportunities, the experts provided compelling insights on the future of filmmaking.

Kevin D.C. Chang, the AI director and CEO of Metavision Co. in South Korea, showcased a remarkable case in point with his film "Cinque Terra." By leveraging AI tools, Chang managed to bring the production budget down from $4.1 million to a mere $400,000. "I made it in my computer and by myself. I made music, I made sound design, I did everything," Chang revealed, emphasizing that AI had effectively eliminated the high costs associated with traditional location shoots while still preserving production quality.

The financial efficiencies brought about by AI are drawing new categories of investors, according to Nicholas Aaron Khoo, the chair of Singapore's N Prime Partners Capital. "When you lower cost and time to market, you're technically lowering the risk. And in the investment world, when you lower the risk, the amount of investment goes up," Khoo explained. He noted that in Singapore, individual investors are now contributing amounts between $5,000 and $15,000 to film projects—investments once unheard of in traditional film financing.

However, Khoo cautioned that the AI investment landscape presents unique challenges, particularly in terms of due diligence. "The biggest challenge is who else is working on this that may be better than what you're doing," he said, pointing to the rapidly evolving competitive landscape.

On the governmental front, Japan is actively supporting AI integration into content creation. Norihiko Saeki, a director at Japan’s Ministry of Economy, Trade and Industry, announced the launch of the GENIAC (Generative AI Accelerator Challenge) program and the development of guidelines for AI use in content production. "We are trying to promote collaboration between animation companies and cutting-edge technology companies," Saeki said.

Generative AI is also facilitating international co-production by breaking down traditional barriers. Chang, who conducts weekly AI seminars for Korean filmmakers, highlighted that cloud-based AI tools enable real-time, cross-border collaboration. "We can communicate anywhere, everywhere, anytime," he noted, contrasting this with the outdated methods of traditional film production.

Moderating the discussion, Andrijana Cvetkovikj, executive producer at TIFFCOM, emphasized the need for the industry to balance innovation with the potential risks posed to artists and traditional filmmaking processes.