Olivia Solon of Wired.co.uk recently drew attentions attention to startup Wibbitz, calling it a “Summly for video.” In five to ten seconds, she reports, the technology “transforms any article into a one to two-minute video, extracting the salient points from the text, pulling in images and infographics and adding a voiceover.”
Wibbitz, Solon notes, “uses algorithms to extract text from an article, then analyses it using natural language processing and artificial intelligence to understand what the text is taking about. It then summarises the article, and hunts for relevant imagery through various image licensing sites, including Getty, Reuters and AP. It also adds in infographics based on a number of fixed templates and then converts the summarised text into a voiceover (users will soon be able to select one of four different voices).”
The vendor is creating 10,000 videos a day, the article states, and quotes one of the company’s founders as saying, that with its ability to create video on a large scale, “every article can have one.” Solon adds that the app also has just started to add sector-specific overviews. “The first example of this is a ‘markets overview’, which delivers summaries of key movements in major international markets including the NYSE, NASDAQ and the global commodities market,” she writes.
The company, she says, is looking at business models including offering the technology to publishers for a license fee, or offering the technology for free on the understanding that Wibbitz can inject ads on the publisher’s behalf.