Shutterstock Partners with OpenAI to Supply Training Data in Exciting New Agreement
In Brief
In a significant move, Shutterstock has entered into a fresh six-year agreement with OpenAI to provide a wealth of image, audio, and video training resources.
This partnership also opens the door for Shutterstock to leverage the latest advancements in OpenAI's technology.
Shutterstock and OpenAI will work together to introduce generative AI features to Shutterstock's recently acquired GIPHY platform.
Shutterstock, the provider of stock images, footage, and music, today disclosed an expansion of its collaboration with OpenAI.
Under this new six-year arrangement, Shutterstock has granted OpenAI access to its vast libraries of images, videos, and music, along with associated metadata. In exchange, Shutterstock will tap into the cutting-edge technology offered by OpenAI and will continue to integrate the innovative text-to-image functionalities of DALL·E into its platform.
Apart from text-to-image generation With this integration, clients of Shutterstock will have the ability to modify any image from the entire Shutterstock collection, tailoring it to their creative and production needs. Moreover, Shutterstock and OpenAI will jointly explore generative AI opportunities for the GIPHY platform, enhancing its offerings.
Paul Hennessy, CEO of Shutterstock, expressed that this enhanced partnership positions the company as a leading data and distribution ally for key players in the generative AI sector.
Brad Lightcap, COO of OpenAI, added, 'This prolonged collaboration not only boosts our image models' capabilities but also enables brands, digital media outlets, and marketing firms to explore transformative opportunities in content creation and innovation. We are eager to introduce the advanced generative AI features to both Shutterstock and GIPHY's extensive user base, truly changing how individuals communicate through visual media.'
Shutterstock and OpenAI have announced a strategic alliance. last October This extension of their partnership represents the latest initiative Shutterstock has undertaken to incorporate generative AI capabilities into the creative space.
Earlier this year, Shutterstock launched its AI Image Generator, a tool powered by DALL·E that allows users to quickly create tailored visuals based on textual prompts.
Shutterstock proudly claims to have pioneered a Contributor Fund that compensates numerous artists for their intellectual property utilized in developing the company's generative AI technology. Additionally, this fund provides ongoing royalties to artists linked to licensing activities of newly created assets.
Beyond the collaboration with OpenAI, Shutterstock has formed partnerships with industry giants like NVIDIA, Meta, LG, and more to establish fundamental generative AI tools and standards for creators across 3D images and text.
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