SHUTTERSTOCK PARTNERS WITH OPENAI AND LEADS THE WAY TO BRING AI-GENERATED CONTENT TO ALL
NEW YORK, Oct. 25, 2022 /PRNewswire-AsiaNet/ --
--Shutterstock powers innovation excellence by expanding OpenAI partnership
focused on delivering the most advanced creative tools in the industry
--Shutterstock supports its contributor base with launch of fund aimed at
ensuring artists are rewarded for contributions to AI datasets
Shutterstock, Inc. (
) ("the Company") (NYSE: SSTK), the leading global creative platform for
transformative brands and media companies, today unveiled its action plan to
launch its AI-generated content capabilities in a manner that is responsible
and transparent for its customers and contributors. In expanding its
partnership with OpenAI, launching a fund to compensate artists for their
contributions, and focusing its R&D machine on gathering and publishing
insights related to AI-generated content, Shutterstock positions itself at the
forefront of emerging technology -- supercharging ethical, creative
storytelling for all.
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"The mediums to express creativity are constantly evolving and expanding. We
recognize that it is our great responsibility to embrace this evolution and to
ensure that the generative technology that drives innovation is grounded in
ethical practices," said Paul Hennessy, Chief Executive Officer at
Shutterstock. "We have a long history of integrating AI into every part of our
business. This expert-level competency makes Shutterstock the ideal partner to
help our creative community navigate this new technology. And we're committed
to developing best practices and experiences to deliver on our purpose, which
is to empower the world to create with confidence."
Shutterstock + OpenAI: Creativity at the Speed of Your Imagination
This collaboration introduces OpenAI's seamless image generation capabilities
to Shutterstock audiences worldwide — offering customers the ability to
instantly generate images based upon the criteria they type in. That's what
Shutterstock calls Creativity at the Speed of Your Imagination.
This agreement further deepens the strategic partnership between Shutterstock
and OpenAI, which began in 2021.
"The data we licensed from Shutterstock was critical to the training of
DALL-E," said Sam Altman, OpenAI's CEO. "We're excited for Shutterstock to
offer DALL-E images to its customers as one of the first deployments through
our API, and we look forward to future collaborations as artificial
intelligence becomes an integral part of artists' creative workflows."
When this integration launches on Shutterstock.com in the coming months,
customers will receive direct access to these AI image generation capabilities
improving their creative workflows. In turn, Shutterstock contributors will be
compensated for the role their content played in the development of this
technology.
Shutterstock.AI Unlocks New Revenue Streams for Contributors
Shutterstock believes that AI-generated content is the cumulative effort of its
contributing artists. In an effort to create a new industry standard and unlock
new revenue streams for the Company's artist community, Shutterstock has also
created the framework to provide additional compensation for artists whose
works have contributed to develop the AI models. The Company also aims to
compensate its contributors in the form of royalties when their intellectual
property is used.
Establishing an Ethical and Equitable AI Framework
To promote an ethical and inclusive framework for content and AI, Shutterstock
is a proud sponsor and participant in the World Ethical Data Foundation's 2022
global conference. With a strong focus on the importance of inclusivity in
technology, from hiring to reducing bias in systems and building checks and
balances to help ensure ethical and inclusive data use, Shutterstock continues
to drive advancements in both tech innovation and DEI across the creative
industries.
And in an important effort to protect the IP rights of its artists,
photographers, and creators, Shutterstock continues to lead in developing
policy and procedures, and employs methods to ensure that usage rights and
proper licenses are secured for all featured content -- including AI-generated
content.
Experience the Power of Shutterstock.AI
Learn more about Shutterstock's initiatives surrounding AI-generated content,
including an exclusive AI-generated collection from Creative Producer Alex
Ambroziak, at shutterstock.com/generate (
).
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. All statements other than
statements of historical fact are forward-looking. Examples of forward-looking
statements include, but are not limited to, statements regarding guidance,
industry prospects, future business, future results of operations or financial
condition, future dividends, our ability to consummate acquisitions and
integrate the businesses we have acquired or may acquire into our existing
operations, new or planned features, products or services, management
strategies, our competitive position and the COVID-19 pandemic. You can
identify forward-looking statements by words such as "may," "will," "would,"
"should," "could," "expect," "aim," "anticipate," "believe," "estimate,"
"intend," "plan," "predict," "project," "seek," "potential," "opportunities"
and other similar expressions and the negatives of such expressions. However,
not all forward-looking statements contain these words. Forward-looking
statements are subject to known and unknown risks, uncertainties and other
factors that could cause our actual results to differ materially from those
expressed or implied by the forward-looking statements contained herein. Such
risks and uncertainties include, among others, those discussed under the
caption "Risk Factors" in our most recent Annual Report on Form 10-K, as well
as in other documents that the Company may file from time to time with the
Securities and Exchange Commission. As a result of such risks, uncertainties
and factors, Shutterstock's actual results may differ materially from any
future results, performance or achievements discussed in or implied by the
forward-looking statements contained herein. The forward-looking statements
contained in this press release are made only as of this date and Shutterstock
assumes no obligation to update the information included in this press release
or revise any forward-looking statements, whether as a result of new
information, future developments or otherwise, except as required by law.
ABOUT SHUTTERSTOCK
Shutterstock, Inc. (NYSE: SSTK (
)), is the leading global creative platform for transformative brands and media
companies. Directly and through its group subsidiaries, Shutterstock's
comprehensive collection includes high-quality licensed photographs (
), vectors (
), illustrations (
), 3D models (
), videos (
) and music (
). Working with its growing community of over 2 million contributors,
Shutterstock adds hundreds of thousands of images each week, and currently has
more than 424 million images and more than 27 million video clips available.
Headquartered in New York City, Shutterstock has offices around the world and
customers in more than 150 countries. The Company also owns Splash News, the
world's leading entertainment news agency for newsrooms and media companies
worldwide, Pond5, the world's largest video-first content marketplace (
), TurboSquid, the world's largest 3D content marketplace (
); PicMonkey, a leading online graphic design and image editing platform (
); Offset, a high-end image collection (
); Shutterstock Studios, an end-to-end custom creative shop (
); PremiumBeat, a curated royalty-free music (
) library; Shutterstock Editorial, a premier source of editorial images (
) and videos (
) for the world's media; Amper Music, an AI-driven music platform (
); and Bigstock (
), a value-oriented stock media offering.
For more information, please visit www.shutterstock.com and follow Shutterstock
on Twitter (
) and on Facebook (
).
SOURCE: Shutterstock, Inc.
CONTACT: Srey Dasgupta, press@shutterstock.com, +1 917-563-4991
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