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Avril Power, giyst

AI-powered video summarization.

What problem are you solving and what is innovative about your approach?

Video content has exploded - 82% of all content created online is now video. But with information overload and our dwindling attention spans, we can’t consume all of this content. Only 24% will get to the end of a video if it’s over 20 minutes. As content optimization becomes an increasingly important strategy for businesses, the repurposing of content is time consuming, labour intensive and inefficient. giyst transforms how companies repurpose content. Our patent-pending technology uses the latest advances in Artificial Intelligence and Machine Learning to produce fully automated video summaries in minutes. Our innovative summarization engine enables the customer to produce a video summary 10% of length, along with a short snippet and full transcripts, all without any need for manual editing. This enables businesses to repurpose content at speed and scale.

How is this idea commercially attractive?

The video for enterprise market is worth USD 21.23 billion in 2022 and is expected to grow at a 13.8% CAGR from 2022 to 2032 and reach US$77.32 billion by 2032. Our key target is Enterprise Video Platforms, who often have millions of customers and billions of minutes of video. These EVPs need to drive engagement and discovery of content on their platforms in order to drive loyalty of their subscribers. giyst summaries enable these platforms to drive 4X more content discovery and increase engagement by at least 40%.

What do you hope to achieve by participating in Big Ideas?

giyst is disrupting the Enterprise Video market with its patent-pending solution for repurposing content at speed and scale. Big Ideas provides a fantastic opportunity to enhance our profile and increase our network. giyst is seeking to connect with potential investors who understand the vision and the opportunity, as we progress toward spinning out of UCD later this year.