YouTube Creators Contributed Rs 10,000 Crore To India's GDP In 2021, Reveals Oxford Report

A study by Oxford Economics found that in 2021, the creator economy of the video-sharing website YouTube contributed ₹ 10,000 crores to India's GDP. More than 7,50,000 full-time equivalent jobs were supported nationwide during that time.

The study, released on Monday at the Google for India event, polled 5,633 YouTube artists of all sizes, 4,021 consumers, and 523 companies from a variety of industries. Content creators on the Google-owned platform supported 6,83,900 jobs and contributed ₹ 6,800 crores to the nation's GDP in 2020, Business World reported.

Ajay Vidyasagar, Director of South, South East Asia and APAC Emerging Markets, YouTube, said, "YouTube, in India, is woven into the fabric of our lives. We are delighted that YouTube's creative ecosystem continues to power India's creator economy, supporting new jobs and opportunities across the length and breadth of the country."

According to YouTube, there are eight different ways for content producers to make money, and Courses will be an extra tool. Next year, certified artists in India will be able to provide viewers with either free or paid courses. India, South Korea, and the United States will be the first countries where the feature is made available as a beta test.

New AI-Based Products & Collab With Medicos

At the event, YouTube and Google revealed new products with an emphasis on artificial intelligence (AI) and machine learning (ML). While Google announced significant upgrades to its type and voice search services, YouTube unveiled two new tools to expand educational and healthcare content on its platform. Aloud, an AI/ML-enabled system that can translate and subtitle films in various regional languages without charging extra is a solution that YouTube is currently testing. Only a selected few healthcare professionals currently have access to the functionality.

"We want to help truly democratize important health information. And, we remain committed to working closely with experts in healthcare and investing in technologies that will enable them to create multilingual content efficiently, to reach audiences at scale," Chatterjee said.

YouTube announced that it would collaborate with more medical organisations, such as Narayana, Manipal, Medanta, and Shalby, to produce reliable content that addresses more than 100 medical conditions in a variety of languages, including Hindi, Marathi, Tamil, Telugu, Kannada, Gujarati, Bengali, and English.

Other Features

YouTube recently debuted a new feature called "Courses" that enables producers to provide viewers with multi-session video courses for topics and include supplemental learning resources like PDF files in addition to videos. Additionally, Google showcased some fresh voice search options. Project Relate, a new Android software that recognises and interprets non-standard speech and enables people with speech difficulties to interact with Google Assistant, is one of the more significant advancements.

The Relate app's Listen feature allows users to copy and paste the text into other applications while simultaneously transcribing their speech to text in real-time. With the use of a clear, artificial voice, the Repeat feature enables users to restate their sentences. The pilot-stage app also enables users to converse directly with Google Assistant. Services in Hindi and other regional languages will be offered in subsequent pilot phases.

A user's Lens-based visual query can be further honed using textual key terms with Google's new multi-search functionality. Therefore, if you're looking for a dress with a specific design, you may further hone your vision of the pattern by using keywords for the colour, brand, or style of the garment you're looking for.

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