CANNES: The Cannes Film Festival has signed a multi-year sponsorship deal with social network giant and major AI investor Meta, the company announced Monday, despite fears about the impact of its new video tools on the cinema industry.&nbsp;Meta said in a statement that it was &quot;proud to be an official partner of the Festival de Cannes in a new multi-year strategic partnership&quot;, replacing social video platform TikTok.&nbsp;The group is set to organize a series of promotional events for its video-enabled Ray-Ban Meta glasses, which are becoming increasingly popular among influencers but have sparked privacy fears.&nbsp;It will also showcase its new artificial intelligence-powered video generative technology, which has been embraced by Oscar-winning &quot;Traffic&quot; director Steven Soderbergh for his latest film.&nbsp;Soderbergh partnered with Meta for a documentary about the last interview given by Beatles songwriter John Lennon before his death, which will premiere at the Cannes Festival.&nbsp;The film features AI-generated footage of Lennon and his wife Yoko Ono -- a major talking point in an industry which mostly views the technology as a threat to jobs, as well as a danger for copyright and original storytelling.&nbsp;Soderbergh told Deadline magazine last week that AI-generated video comprises about 10 percent of the film and was used for &quot;sequences that have images that are impossible to shoot&quot;.&nbsp;The use of AI was central to the 2023 strikes that shut down Hollywood, as actors and writers warned that unchecked technology threatened their livelihoods.&nbsp;Thousands of French actors and filmmakers warned in an open letter in February that AI tools were &quot;plundering&quot; talent across the industry, comparing them to a &quot;devouring hydra&quot;.&nbsp;The Cannes Festival kicks off on Tuesday and runs until May 23.

Artificial Intelligence

Cannes Film Festival signs a multi-year sponsorship deal with Meta, replacing TikTok. The partnership showcases AI video tools and Ray-Ban Meta glasses amid concerns over AI’s impact on jobs, copyright and original storytelling in the film industry.

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Cannes Festival signs up Meta as sponsor amid AI fears

Cannes Festival signs up Meta as sponsor amid AI fears