Shutterstock, a leading provider of stock content, has announced its plans to expand its partnership with OpenAI. The agreement entails licensing data from Shutterstock to OpenAI, including images, videos, music, and associated metadata. This collaboration will span over the next six years and provide Shutterstock with priority access to OpenAI’s latest technologies and new editing capabilities. The aim is to empower Shutterstock customers with enhanced image transformation options from the vast stock content library.
Generative AI Capabilities for Mobile Users
In addition to the expanded partnership, Shutterstock reveals that OpenAI will collaborate with the company to bring generative AI capabilities to mobile users. This collaboration will leverage Giphy, the popular GIF library recently acquired by Shutterstock from Meta. By merging their expertise, the two companies aim to introduce innovative generative AI features to mobile platforms, further enhancing the user experience.
Shutterstock’s Commitment to AI Tech Innovation
Paul Hennessy, the CEO of Shutterstock, emphasizes the significance of renewing and expanding the strategic partnership with OpenAI. He asserts that this collaboration solidifies Shutterstock’s commitment to driving AI tech innovation. The company positions itself as the preferred data and distribution partner for industry leaders in generative AI. This renewed alliance highlights the potential for groundbreaking advancements in AI technology within the stock content industry.
Addressing Copyright Concerns and Artist Compensation
The relationship between stock content galleries and generative AI startups has often been contentious. Artists and photographers who contribute to stock image galleries have raised concerns about generative AI tools profiting from their work without proper credit or compensation. While legal disputes in this area continue, Shutterstock has chosen a different approach. Rather than engaging in lengthy court battles, the company has embraced generative AI. It collaborates with OpenAI, as well as other notable partners like Nvidia, Meta, and LG, to develop AI models and tools across various domains.
To address concerns from artists, Shutterstock operates a “contributor fund” that compensates artists for their contributions to training the company’s generative AI. The fund also provides ongoing royalties tied to licensing for newly generated assets. By implementing these measures, Shutterstock aims to strike a balance between embracing AI innovation and ensuring fair compensation for artists involved in the process.
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