A new AI music chart will launch today that predicts the success or failure of new song releases before they are recorded.
The predictive analytics based “AI Chart” is unusual in that none of the tunes listed will be available to listen to. Today will see the launch of its first top 40 based on predicted airplay, downloads and sales, but with no music available to play.
Top music executives believe the new chart could save them millions by avoiding recording songs that will not chart well when released. “New music costs a great deal to produce and is a high risk and low return business. This new predictive analytics technology will save us wasted millions” said one record label.
Founder of the start-up tech business behind the AI chart is Norwegian Willie Strum. He said “we predict that new talent shows like the Voice will become a thing of the past. The tech will be able to identify successful singer songwriters as young as 5 in a few years, allowing the music industry to sign new talent earlier than ever before.
Music radio stations are expected to begin bidding for the rights to the weekly chart as a streaming platforms and there is talk of a new summer music festival based on the Chart. Bands expected to play the first festival in Summer 2020 will be announced shortly with a promised headline band predicted to break into the UK music scene in early 2020.
However, concerns have been expressed by some that there will be unconscious bias in the data or algorithm used by the AI Chart that could have unexpected consequences for future music recording decisions.”It has always been difficult to predict future music tastes” said one critic. “We may see less music variety if the AI Chart makes our music decisions’ for us said one insider. These concerns were dismissed by Strum as “utter rubbish”.
The chart will only be released on 1 April