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Not sure if you mean restore or just recreate, but it looks like the exposure “hysteresis” provides enough info for some sort of temporal-encoded HDR.

Also, playing this back at 0.5x makes everyone move normal.

I would guess it's not different exposure levels at the time of filming but rather different uneven deterioration of the film stock.

Recreate but not "restore". AI can only produce a fiction on the picture.

All pictures are a fiction of sorts.

The Treachery of Images. "Ceci n'est pas une pipe".

I am looking forward to the next (5? 10?) years where AI will be cheap and fast enough, so that we can all (from the comfort of our own homes) process old photos and videos, enhance and enrich.

It's a pity that there is no audio in this video, but if the image is clean enough and we have an AI that can read lips.. one can only hope.

It already is fast and cheap enough. The question is the specific capabilities of easy to use tooling.

i think even just masking the background with a static image for a few of the scenes would be a gigantic improvement to hide the inconsistent quality of each frame