Shutterstock delivering industry-forward
experiences, powered by OpenAI
NEW
YORK, July 11, 2023 /CNW/ -- Shutterstock,
Inc. (NYSE: SSTK), a leading global creative platform offering
high-quality content and full-service creative workflow solutions
for transformative brands, digital media and marketing companies,
today announced the expansion of its partnership with OpenAI, a
pioneer in artificial intelligence. Through a new six-year
agreement, Shutterstock is set to solidify its position as a
leading provider of high-quality training data for OpenAI models,
propelling transformative capabilities for brands, digital media,
and marketing companies.
Shutterstock is the data and distribution
partner of choice for industry leaders in generative AI.
As part of this expanded collaboration, OpenAI has secured a
license for access to additional Shutterstock training data
including Shutterstock's image, video and music libraries and
associated metadata. Shutterstock also gains priority access to the
latest OpenAI technology and will continue to leverage DALL·E's
groundbreaking generative text-to-image capabilities directly into
the shutterstock.com platform. In addition to text-to-image
generation, the integration will also provide Shutterstock
customers with synthetic editing capabilities, allowing them to not
just create new content, but also to simply edit and transform any
image in the entire Shutterstock library to accelerate ideation and
production. Shutterstock and OpenAI will work in collaboration to
bring generative AI capabilities to mobile users through
Shutterstock's newly acquired GIPHY platform.
"The renewal and significant expansion of our strategic
partnership with OpenAI reinforces Shutterstock's commitment to
driving AI tech innovation and positions us as the data and
distribution partner of choice for industry leaders in generative
AI," said Paul Hennessy, CEO of
Shutterstock.
Brad Lightcap, COO of OpenAI,
added, "We're pleased to be able to license Shutterstock's
high-quality content library. This extended collaboration not only
enhances the capabilities of our image models but also empowers
brands, digital media, and marketing companies to unlock
transformative possibilities in content creation and ideation. We
look forward to bringing the next generation of generative AI
capabilities to Shutterstock and GIPHY's vast user base, further
revolutionizing the way people express themselves through visual
media."
This partnership expansion is the latest in several strategic
steps Shutterstock has taken as one of the leading innovators
bringing AI advancements to the creative industry. Earlier this
year, the company launched its AI Image Generator, a DALL·E-powered
groundbreaking tool that empowers users to instantly create
customized visuals. Shutterstock was also the first to introduce a
Contributor Fund, its pioneering initiative that to date has
compensated hundreds of thousands of artists for the role their
content IP has played in training Shutterstock's generative
technology as well as to compensate them with ongoing royalties
tied to licensing activity for newly generated assets.
In addition to OpenAI, Shutterstock has collaborated with
industry leaders such as NVIDIA, Meta, LG and others to develop
foundational generative AI tools and standards for creators across
3D, images and text. Shutterstock's high-quality content library,
enriched with vast metadata, leads the industry in size, diversity
and annotation—making it unrivaled for training AI
capabilities.
For more information about the previous deal announcement,
please visit our press room.
About Shutterstock, Inc.
Shutterstock, Inc. (NYSE:
SSTK) is a premier partner for transformative brands, digital media
and marketing companies, empowering the world to create with
confidence. Fueled by millions of creators around the world, a
growing data engine and a fearless approach to product innovation,
Shutterstock is the leading global platform for licensing from the
most extensive and diverse collection of high-quality 3D models,
videos, music, photographs, vectors and illustrations. From the
world's largest content marketplace, to breaking news and A-list
entertainment editorial access, to all-in-one content editing
platform and studio production service—all using the latest in
innovative technology—Shutterstock offers the most comprehensive
selection of resources to bring storytelling to life.
Learn more at www.shutterstock.com and follow us
on LinkedIn, Instagram, Twitter,
Facebook and YouTube.
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SOURCE Shutterstock, Inc.