📕 Big Tech and AI-Startups Are Taking Over Book Publishing
Artificial intelligence technologies rapidly transform the publishing business, speeding up content creation, book editing, printing, and distribution.
Nearly 50% of publishers already use AI tools at various stages of their work. The AI boom is also attracting new tech players to this field, which has traditionally been regarded as quite conservative.
📱 In late November, Microsoft launched its imprint, 8080 Books, named after Intel's microprocessor. Its mission is to dramatically shorten the time it usually takes to publish books.
"Technology has quickened the pace of almost every industry except publishing," reads a company statement.
8080 Books will print books about technology, science, and business. The company's debut is "No Prize for Pessimism" by Microsoft's deputy chief technology officer Sam Schillace.
📘 Miami-based startup Spines, which recently raised more than $16 million in funding, uses AI in nearly every publishing stage. AI algorithms edit manuscripts, generate layouts, provide options for cover design and illustrations, and strategize how to distribute the finished product in e-book, audio, or print-on-demand formats. AI tools reduce the publishing time of a finished manuscript to 2-3 weeks compared to 6-18 months for traditional publishers.
Spines has already published more than 1,700 books in various genres — from children's literature to non-fiction.
The authors cover the book production costs (from $1200 per book depending on how many services an author requests), and they receive at least 70% in sales' royalties, which is several times higher than in conventional publishing houses. The company plans to attract over 1 million authors.
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