00:00 Speaker A
Also, on my call with Chris, we talked a lot about how AI is impacting the creation of new toys at Hasbro. I have not forgotten that today is Hiring Day. Employment statistics were good. I remain of the view that while AI will help some people’s jobs, it will also take away jobs. As the toy industry continues to move rapidly, how is this impacting the toy industry?
00:30 chris
I can’t really comment on the toy industry as a whole. I can’t comment on Hasbro. In the short term, it’s been an absolute boom in productivity for us. We expect to save approximately 1 million man-hours of work over the next 12 months. Well, it doesn’t mean there will be no jobs. It takes everyone working here several hours each week and requires them to respond from low-value jobs like order management and order management.
01:05 chris
Execute processes, innovate, and deliver to customers and partners. Well, in the medium term, you know, if you think from a creative perspective, this has a lot of functionality and helps us reinvent how we come up with new toys and new games. We are already seeing the combination of AI and 3D printing. As a result, it takes 80% less time to go from a toy on the drawing board to a fully 3D printed color model.
01:46 chris
And, you know, it’s really a savings that allows us to iterate and think of more ideas faster, and ultimately allows us to bring better toys and better games to market. And in the long term, I think AI is a really powerful technology. It has some drawbacks. While it requires respect for creators and careful copyright management, it is also an incredibly creative and playful technology.
02:18 chris
And I think we’re just beginning to realize the value of a whole new category of toys and games that AI can generate for us. I have several pieces scheduled to be unveiled later this year. I think it’s going to be pretty exciting. You know, we’re going to focus more on the collector’s market and, um, you know, our focus is more on the adult orientation. We think that’s true given today’s state of technology. But, you know, I think it’s very magical, very transformative.
