Shutterstock, a prominent stock image provider, has established significant AI-training partnerships with key tech companies such as OpenAI, Meta, Google, Amazon, and Apple. These agreements entail the licensing of Shutterstock’s vast collection of photos, videos, and music to aid these companies in training their artificial intelligence models.
Latest updates on Shutterstock’s artificial intelligence training agreements.
Collaboration between Shutterstock and AWS: Shutterstock.AI and AWS have collaborated to offer datasets from AI’s extensive collection of 400 million assets for a range of applications, such as autonomous vehicles and e-commerce. Now, AWS Data Exchange offers these datasets, and AWS users have the option to request customized collections that are specifically designed to meet their project requirements.
Shutterstock has established agreements with prominent technology companies including OpenAI, Meta, Google, Amazon, and Apple. These agreements grant them access to Shutterstock’s picture database for training purposes. Initially, these deals were appraised at a value ranging from $25 million to $50 million each, but they were subsequently enlarged. According to Jarrod Yahes, the CEO of Shutterstock, there is a growing demand for licensing material as technology businesses strive to obtain greater access to data.
Shutterstock and OpenAI have formed a partnership for a six-year agreement to exchange training data for generative AI. OpenAI will gain access to Shutterstock’s image, video, and audio archives, as well as the accompanying metadata, through this cooperation. As part of the agreement, Shutterstock will receive preferential access to OpenAI’s technology and will include DALL-E’s generative AI capabilities into its platform. Additionally, they intend to incorporate generative artificial intelligence capabilities into the GIPHY platform.
Apple has entered the field of AI training by partnering with Shutterstock to utilize its photographs. This collaboration is projected to have a value ranging from $25 to $50 million. Apple is getting ready to present its artificial intelligence (AI) initiatives at WWDC 2024, which is why this step is being made. Apple, formerly regarded as falling behind in AI services, aims to alter this perception with the release of iOS 18. This new version is anticipated to include enhancements driven by artificial intelligence.
Content and Legal Concerns: The AI-generated content produced by Shutterstock has prompted inquiries over copyright and the level of quality. To address these concerns, the company has licensed its stock image library to OpenAI and other digital companies, thereby assuring that artists receive compensation for their efforts. Shutterstock has just formed a collaboration with Nvidia to create a 3D model generator that utilizes artificial intelligence.
Shutterstock employs an ethical approach by establishing a “contributor fund” to remunerate artists for the contribution their work makes in training generative AI. In addition, the company has formed licensing arrangements with Nvidia, Meta, LG, and other entities to create generative artificial intelligence models and tools for a wide range of content categories. Shutterstock prioritizes an ethical approach to artificial intelligence (AI), guaranteeing fair compensation for artists and ensuring that the content used to train AI models is lawfully licensable.
Shutterstock has established itself as a prominent participant in the market for AI training data by granting licenses to tech giants, allowing them to utilize its extensive content collection for their AI development requirements. These collaborations not only generate substantial income for Shutterstock but also contribute to the progress of artificial intelligence (AI) technology in several sectors.