- Shutterstock drives excellence in innovation by expanding OpenAI partnership focused on delivering the industry’s most advanced creative tools
- Shutterstock is supporting its contributor base with the launch of a fund to ensure artists are rewarded for their contributions to AI datasets
NEW YORK, October 25, 2022 /CNW/ — Shutterstock, Inc.. (“the Company”) (NYSE: SSTK), the leading global creative platform for brands and transformative media companies, today unveiled its roadmap to launch its AI-generated content capabilities in a responsible and transparent manner for its clients and contributors. By expanding its partnership with OpenAI, launching a fund to compensate artists for their contributions, and focusing its R&D machine on collecting and publishing information related to AI-generated content, Shutterstock is positioning itself at the forefront of emerging technology – energizing ethical and creative storytelling for all.
“The mediums for expressing creativity are constantly changing and expanding. We recognize that it is our great responsibility to embrace this evolution and ensure that generative technology that drives innovation is grounded in ethical practices,” said Paul HennessyChief executive officer at Shutterstock. “We have a long history of integrating AI into every part of our business. This expert-level skill makes Shutterstock the ideal partner to help our creative community navigate this new technology. And we are committed to developing the 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, giving customers the ability to instantly generate images based on criteria they enter. 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 formation of DALL-E,” said Sam AltmanOpenAI CEO. “We are delighted that Shutterstock is offering DALL-E images to its customers as part of one of the first deployments via our API, and we look forward to future collaborations as artificial intelligence becomes an integral part of workflows. creative work of artists.
When this integration launches on Shutterstock.com in the coming months, customers will receive direct access to these AI image generation capabilities enhancing their creative workflows. In turn, Shutterstock contributors will be compensated for the role their content has played in the development of this technology.
Shutterstock.AI opens up 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 also created the framework to provide additional compensation to artists whose works have helped grow AI models. The Company also aims to remunerate its contributors in the form of royalties when their intellectual property is used.
Establish an ethical and fair AI framework
To promote an ethical and inclusive framework for content and AI, Shutterstock is a proud sponsor and participant of the World Ethical Data Foundation’s 2022 Global Conference. By emphasizing the importance of inclusivity in technology, from hiring to reducing bias in systems and putting checks and balances in place to ensure ethical and inclusive use of data, Shutterstock continues to advance technological innovation and DEI in the creative industries.
And in an important effort to protect the intellectual property rights of its artists, photographers, and creators, Shutterstock continues to lead the development of policies and procedures, and employs methods to ensure that usage rights and appropriate licensing are secure for all presented content, including AI. -generated content.
Discover the power of Shutterstock.AI
Learn more about Shutterstock’s AI-generated content initiatives, 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 direction, industry outlook, future business, future results of operations or financial condition, future dividends, our ability to realize acquisitions and to integrate 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”, “should”, “should”, “could”, “expect”, “aim”, “anticipate”, ” believes”, “estimates”, “”intend”, “plan”, “predict”, “project”, “seek”, “potential”, “opportunities” and other similar expressions, as well as the negatives of these 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.These risks and uncertainties include, among others, those discussed under “Risk Factors” in our most recent Annual Report on Form 10-K, as well as in other documents which the Company may file from time to time with Securi ties and Exchange Commission. Due to these risks, uncertainties and factors, Shutterstock’s actual results may differ materially from any future results, performance or achievements referred to 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 undertakes no obligation to update the information contained in this press release or to revise the 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 world’s leading creative platform for brands and transformative 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 over 424 million images and over 27 million video clips available.
Based at New York City, Shutterstock has offices worldwide 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 around the world, Pond5, the largest video content market in the worldTurboSquid, the largest 3D content market in the world; PicMonkey, a leading online graphic design and image editing platform; Offset, one premium image collection; Shutterstock Studios, an end-to-end personalized creative store; PremiumBeat, an organization Royalty Free Music library; Shutterstock Editorial, one of the main sources of editorial images and videos for the world’s media; Ampere Musica AI-based music platform; and Bigstocka stock market media offering focused on value.
For more information, please visit www.shutterstock.com and follow Shutterstock on Twitter and on Facebook.
SOURCEShutterstock, Inc.
Information: Srey Dasgupta, [email protected]917-563-4991
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