Shutterstock chief technology officer James Chou (C) rings the opening bell at the New York Stock Exchange on February 14, 2014 in New York City.
Shutterstock unveiled on Wednesday, Jan. 25, the product that would deliver its own generative artificial intelligence (AI) capabilities to users.
With the help of OpenAI and Dall-E 2, users of Shutterstock's Creative Flow online design platform may now generate graphics in response to text prompts, as reported by TechCrunch.
This news follows the announcement of the deal between Shutterstock and OpenAI. The collaboration is to aid in developing OpenAI's Dall-E 2 AI image-generating platform using Shutterstock libraries to train and feed the algorithm.
Talks Over Licensing Contents
Shutterstock claims that the photographs are available for licensing as soon as they are created. It makes this feature, which does not seem to have a brand name, particularly attractive.
This is noteworthy since one of Shutterstock's main rivals, Getty Photos, is now involved in a lawsuit against Stability AI, the creators of another generative AI service called Stable Diffusion.
As per reports, Stability AI is allegedly utilizing Getty Images' visuals to train Stable Diffusion's system without the other party's or the rightsholders' consent.
Going back to Shutterstock's recent initiative, the firm is offering a service that would embrace the capacity to utilize AI to construct the picture you are looking for. This project puts Shutterstock apart from its competitors in how it embraces the exciting new world of generative AI.
See Also: Getty Images to Sue Stable Diffusion Developers Over Alleged Copyright Infringement
Ventures in the AI Sector
Although Stability AI has received substantial funding, OpenAI has welcomed more. It recently completed a hefty $10 billion round and expanded its cooperation with Microsoft.
Along with its partnership with OpenAI, Shutterstock also announced a more comprehensive agreement with Meta, the parent company of Facebook, Instagram, and WhatsApp.
Like OpenAI, Meta will use Shutterstock's picture, video, and music archives to create AI datasets and train its computers. As a consequence, additional applications using generative AI will become available.
Despite not knowing the financial specifics of those arrangements with OpenAI, Meta, or LG, these services have a clear commercial purpose.
Shutterstock seems to be betting that embracing these new technologies and developing a company around them is more beneficial than letting them destroy it.
The main issue is whether or not Shutterstock's generative AI capabilities for producing photos will stand out enough from the competition.
Shutterstock is positioning itself as an "ethical" provider by promising compensation to the creators whose work has been utilized to fuel these new offerings. However, the question remains whether these payments will be comparable to what the original artists and photographers may have received.
"Shutterstock has developed strategic partnerships over the past two years with key industry players like OpenAI, Meta, and LG AI Research to fuel their generative AI research efforts," said Shutterstock CEO Paul Hennessy in a statement.
"We are now able to uniquely bring responsibly-produced generative AI capabilities to our own customers."
Related Story: Microsoft New 'Multiyear Multibillion Dollar' Partnership With OpenAI Hones in on ChatGPT
