Molten Cloud is a powerful platform for next-generation media operations, offering a suite of tools designed to streamline and enhance various aspects of media management. One of the most recent and groundbreaking additions to the Molten Cloud platform is its AI Rights Management system, which turns long-form contracts into searchable rights, as recently featured in Deadline.
How It Works
The AI Rights Management system is designed to simplify and accelerate the traditionally laborious process of managing rights data. Here's how it works:
- Contract Ingestion: Users can easily upload contracts into the system, regardless of format. Whether it's a PDF, a document containing tables and charts, or even scanned images, the platform can handle it all.
- Data Extraction: In just a matter of minutes, the AI processes the contract and extracts the rights data, converting it into structured data fields within the rights database.
- Human Review: The extracted data is then available as a draft for human review. This crucial step ensures accuracy, allowing a human to verify and make necessary adjustments before the data is published into the rights system.
This innovative approach has already delivered significant benefits. For instance, The CW Network reported saving months in their onboarding process thanks to Molten Cloud’s AI Rights Management system.
Implications and Benefits
The implications of this technology are profound for media organizations. Here are a few key benefits:
- Streamlined Onboarding: The system makes it much easier for companies to onboard onto Molten Cloud. By automating the extraction and organization of rights data, what used to take months can now be accomplished in minutes.
- Efficient Acquisitions: When a company acquires another company’s library, they often inherit a complex collection of contracts. Without a searchable rights database, it is challenging to take action on these contracts. The AI Rights Management system eliminates this barrier, making it easy to search and manage inherited rights.
- Enhanced Accuracy: Traditional methods of managing rights data are prone to inaccuracies due to the manual nature of the work. By automating the extraction process and incorporating human review, Molten Cloud ensures that rights data is accurate and up-to-date.
- Operational Efficiency: Media organizations can reduce the mental load and time required to manage rights data, allowing teams to focus on strategic tasks rather than administrative ones. This efficiency is crucial in an industry where time-to-market can significantly impact profitability.
Conclusion
Molten Cloud's AI Rights Management system is a game-changer for the media industry. By turning long-form contracts into searchable rights, it addresses the long-standing challenges of data management, operational efficiency, and accuracy. As the media landscape continues to evolve, innovations like these will be essential for companies looking to stay ahead of the curve and maximize the value of their content libraries.
For more information on how Molten Cloud can transform your media operations, request a demo.
