Chinese filmmaking industry embraces future with AI

The 15th Beijing International Film Festival, with a strong focus on the fusion of artificial intelligence and film art, highlights cutting-edge development in AI-driven filmmaking and how technology is reshaping cinematic creativity and production.

The world's first AI-driven episodic series, New World Is Loading, was officially unveiled at this year's festival on Thursday, with seven short films covering a variety of genres and rich themes of science fiction and history.

Chen Xiangyu, chief director of New World Is Loading and one creator of video generator Kling AI, utilizes AI to enhance short drama creation by developing a more complex world view and multidimensional characters.

"Our initial idea was to use AI to explore new directions that were previously impossible and to see just how far we could push the boundaries," said Chen.

At present, Kling AI's lip-syncing function not only preserves high-resolution facial details but also precisely matches mouth movements while maintaining coordinated facial muscle motions, making the characters' dialogs appear more natural and vivid.

With technological advancements, AI has become especially skilled at handling the demands of large-scale scenes in film production.

"In the traditional industry, producing large-scale scenes could easily cost over eight figures. Now, we can achieve the same results at just 60 percent of that cost," said Chen.

Since the series premiered its pilot episode in February, it has garnered nearly 100 million views nationwide.

"As of this year, we have surpassed 100 million in business revenue. Our B-end corporate users and developers have grown to 15,000, including clients from advertising, marketing, and paid short video industries," said Wang Ruoxuan, senior product operations manager of Kling AI.

The festival's section for AI-generated content films, which was launched last year amid the AI tech boom, brought together over 1,500 films from 33 countries this year, tripling the last edition.

"From assisting with scriptwriting to creating stunning visual effects, AI has become a valuable tool for filmmakers. It inspires more creators to experiment with different styles and content, fostering a vibrant and diverse market," said Liu Mengya, dean of the Digital Media College with the Beijing Film Academy.

Running from April 18 to 26, the 15th Beijing International Film Festival commemorates the 130th anniversary of the birth of world cinema and the 120th anniversary of the birth of Chinese cinema.

Chinese filmmaking industry embraces future with AI

U.S. stocks ended mixed on Wednesday as investors digested a heavily divided Federal Reserve interest rate decision and continuous rise of crude oil prices.

The Dow Jones Industrial Average fell 0.57 percent to 48,861.81. The S and P 500 sank 0.04 percent to 7,135.95. The Nasdaq Composite Index increased 0.04 percent to 24,673.24.

Seven of the 11 primary S and P 500 sectors ended in the red. The utilities and materials sectors led the laggards, dropping 1.23 percent and 1.1 percent, respectively. Meanwhile, the energy and technology sectors led the gainers, rising 2.35 percent and 0.18 percent.

Monetary policy took center stage as the Federal Open Market Committee voted to keep the benchmark interest rate target unchanged on Wednesday, holding it in a range of 3.5 percent to 3.75 percent. The decision was notable for its split 8-4 vote, marking the first time since 1992 that four committee members dissented.

Both headline and core inflation have been above the 2 percent target for five years and looks set to break above 4 percent next month on gasoline and air fares, so it is understandable why markets and Fed officials are nervous, wrote ING bank on Wednesday.

Oil prices spiked. West Texas Intermediate crude for June delivery surged 6.95 U.S. dollars, or 6.95 percent, to settle at 106.88 dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery jumped 6.77 dollars, or 6.08 percent, to close at 118.03 dollars a barrel on the London ICE Futures Exchange.

On the corporate front, Wall Street's spotlight heavily focused on the technology sector, with four members of the "Magnificent Seven" -- Alphabet, Amazon, Meta Platforms, and Microsoft -- scheduled to report quarterly results following Wednesday's closing bell.

In other notable post-earnings movements, NXP Semiconductors and Seagate Technology Holdings soared 25.5 percent and 11.1 percent, respectively. Visa and Starbucks both advanced more than 8 percent. Conversely, SoFi Technologies dropped over 15 percent, and Robinhood Markets sank 13.24 percent during the session.

U.S. stocks mixed amid historic Fed dissent, surging oil prices