Snafu Records, based out of Los Angeles, has become the first record label to implement AI algorithms in order to search for new artists. Ankit Desai is the CEO of Snafu Records and Desai has a background in streaming strategy at both Capitol Record, as well as Universal Music Group.
Desai stated that most record labels are not able to draw talent form the vast pool of artists. He attributes this to the industry mostly operating through word of mouth. However if Snafu Records is able to better select talent using AI technology, the label could be able to draw talent from a wider pool than other labels. This could allow the organization to streamline the talent acquisition process.
AI-Based Artist Acquisitions
Snafu Records is Leveraging Algorithms to Search for Upcoming Artists
Trend Themes
1. AI-powered Talent Scouting - The use of AI algorithms to identify and acquire new artists is a trend that presents an opportunity for disruption in the music industry.
2. Algorithmic Artist Selection - The use of AI to select and sign artists could revolutionize the way record labels operate and level the playing field for emerging artists.
3. Data-driven Talent Acquisition - The trend of using data and analytics to identify new talent in the music industry opens up opportunities for innovation and efficiency.
Industry Implications
1. Music - The music industry has the potential to benefit from the disruptive innovation opportunities presented by using AI for talent acquisition.
2. Technology - The tech industry can contribute to the development of AI-powered tools that support talent scouting and selection in the music industry.
3. Entertainment - The entertainment industry as a whole can use AI technology to discover and cultivate new talent in music, film, and other creative fields.