As of my last update in April 2024, text-to-video generative AI was an area of rapid development and significant interest. Here's an overview of where the industry stood:

1. State of technology:

• Text-to-video AI had made substantial progress, with several companies and research institutions developing increasingly sophisticated models.
• The quality of generated videos was improving, with better coherence, longer durations, and more realistic visuals.

1. Key players:

• Major tech companies like Google, Meta, and Microsoft were investing heavily in this technology.
• Startups such as Runway ML and Synthesia were also making significant contributions.

1. Applications:

• Content creation: Assisting in creating video content for social media, advertising, and entertainment.
• Education: Generating explanatory videos from textual content.
• Prototyping: Quickly visualizing ideas for filmmakers and advertisers.