financetom
Business
financetom
/
Business
/
Walt Disney forms business unit to coordinate use of AI, augmented reality
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Walt Disney forms business unit to coordinate use of AI, augmented reality
Nov 4, 2024 11:17 AM

(Reuters) -Walt Disney ( DIS ) is forming a new unit to coordinate the company's use of emerging technologies such as artificial intelligence and mixed reality, as the media giant explores applications across its film, television and theme park divisions.

The newly formed Office of Technology Enablement will be led by Jamie Voris, who spearheaded development of Disney's ( DIS ) app for the Apple Vision Pro mixed reality device, according to an email seen on Friday by Reuters.

"The pace and scope of the advances in AI and XR (extended reality) are profound and will continue to impact consumer experiences, creative endeavors and our businesses for years to come - making it critical that Disney ( DIS ) explore the exciting opportunities and navigate the potential risks," Disney Entertainment Co-Chairman Alan Bergman wrote.

"The creation of this group underscores our dedication to doing that."

Bergman noted the unit will focus on fast-moving areas of technology, such as AI and mixed reality, which blends the physical and digital worlds. It will not centralize work on these projects, but rather, ensure the various projects around the company fit with its broader strategy.

Reuters first reported Disney ( DIS ) had formed a task force to study artificial intelligence and how it could be applied across the entertainment conglomerate.

Various divisions within Disney ( DIS ) are exploring applications for augmented reality, which places digital elements into the real world, virtual reality, which immerses the user in a simulated environment, and mixed reality which combines both.

Disney ( DIS ) has been building expertise across the organization to capitalize on the emerging technology.

For example, Kyle Laughlin, a Disney ( DIS ) veteran with a background in augmented and virtual reality and artificial intelligence, returned to the company in March as senior vice president of research and development for Walt Disney Imagineering, the creative force behind Disney's ( DIS ) theme park attractions. He briefly left Disney ( DIS ) in 2019 to lead Amazon's Alexa Gadgets division.

As Meta and Snap unveiled a new generation of lightweight glasses that provide consumers a fashionable alternative to bulky VR goggles, Disney ( DIS ) has been quietly assembling a team focused on how best to harness the technology to bring new experiences to the company's theme parks and consumers' homes, the sources say.

Tech companies have sold about 1.7 million AR/VR headsets so far this year, data from market research firm IDC showed. Meta is still the clear market leader, with a 60.5% market share, but is starting to face pressure in the space from competitors like Sony, Apple and ByteDance.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Kingstone Shares Rise After CEO Stock Purchase
Kingstone Shares Rise After CEO Stock Purchase
May 26, 2025
01:32 PM EDT, 05/23/2025 (MT Newswires) -- Kingstone (KINS) shares were up nearly 10% in recent Friday trading after the company's chief executive officer disclosed the acquisition of 5,000 company shares in a filing with the Securities and Exchange Commission. CEO Golden Meryl S. bought the shares at an average price of $15.93 apiece on Thursday, according to the filing....
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
--Oracle to Buy $40 Billion of Nvidia Chips for OpenAI US Data Center, Financial Times Reports
--Oracle to Buy $40 Billion of Nvidia Chips for OpenAI US Data Center, Financial Times Reports
May 26, 2025
02:10 PM EDT, 05/23/2025 (MT Newswires) -- Price: 157.11, Change: -0.20, Percent Change: -0.13 ...
What's Going On With Oklo Shares Today?
What's Going On With Oklo Shares Today?
May 26, 2025
Oklo Inc. ( OKLO ) shares are trading higher Friday as part of a broad rally in uranium and nuclear-related stocks. What To Know: The move comes after reports indicating President Donald Trump is expected to sign executive orders aimed at revitalizing the U.S. nuclear energy industry. Trump plans to invoke the Defense Production Act to declare a national emergency...
Copyright 2023-2026 - www.financetom.com All Rights Reserved