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Shutterstock is a leader in streamlining the creative process for everyone by developing responsibly made AI tools for designers and marketers.
Through its contributor fund, Shutterstock will compensate artists for their contributions to the development of this new AI technology.
NEW YORK, November 17, 2022 /PRNewswire/ — Building on our commitment to empowering our users with great content and innovative tools to create their best work, Shutterstock, Inc. (NYSE: SSTK) today announced a long-term partnership with LG to develop AI-powered technology. AI research. By combining Shutterstock’s metadata and world-class content with LG AI Research’s R&D capabilities, companies will bring EXAONE Atelier, a creative AI toolkit, to LG’s AI image generation model., and AI-based image captioning to the global market. This is Shutterstock’s latest initiative to provide partners, customers and contributors with ethical AI technology at every stage of the creative workflow, as it continues to work with industry leaders to responsibly shape the future of generative AI.
Shutterstock and LG are at the forefront of streamlining the creative process for everyone by developing responsive AI tools built with designers and marketers in mind.
“LG AI Research is working closely with Shutterstock as the most reliable and strategic partner to develop EXAONE, a super-giant artificial intelligence capable of creating creative illustrations and descriptions based on a unique multi-model architecture and a huge amount of images and text.” said Dr. Kyung-gun BaeHead of LG AI Research. “LG AI Research has partnered with Shutterstock to create EXAONE’s successful business cases and explore brand new opportunities based on EXAONE Atelier, which aims to inspire designers and creators with AI. We are ready to work with all businesses. Artificial Intelligence to draw inspiration from the mind and make the human-made world more creative.”
“Since its inception nearly 20 years ago, Shutterstock has been dedicated to empowering creativity and providing our users with the ingredients to create the perfect artistic experience,” he said. Paul HennessyCEO of Shutterstock. “Our collaboration with LG AI Research continues to deliver on this goal by bringing AI tools to our customers that automate the non-creative part of the process through AI image interpretation and instantly turn visions into reality through AI models. Whether you’re a CMO or a CMO, Freelance Creative Director and the AI-powered tools we’re building remove key bottlenecks in the creative process and open up more space for creativity to flow.”
Expanding our AI footprint
Shutterstock has chosen to partner with LG AI Research, a global pioneer in generative research that is equally invested in taking an ethical approach to creating artificial intelligence technology. LG AI Research’s sophisticated artificial intelligence model, which will be integrated into Shutterstock’s platform, is trained on millions of Shutterstock’s high-resolution images and metadata to turn text-based notifications into images. Contributors used to train the model will be compensated through Shutterstock’s Contributor Fund, and will be compensated when new creator content using their IP is created and licensed to clients.
AI Drawing Caption: A Game Changer for Creative Workflows
LG AI Research’s EXAONE technology can also convert images into high-quality descriptions and keywords to describe and tag content, helping customers find assets faster. This artificial intelligence annotation integration will allow users to automatically add tags and descriptions to the content they upload and store with Shutterstock, keeping it organized and making it easier for users to find the assets they need when they need them.
Collaborative Approach to Industrial Education
according to a Research by Shutterstock, two-thirds of customers and contributors are interested in learning about AI-generated content from the company. To meet this growing interest and share best practices and lessons learned with the industry, Shutterstock and LG AI Research will participate in industry presentations such as the IEEE/CVF Conference on Computer Vision and Pattern Recognition. Vancouver in June 2023Co-organize an event to lead a global discussion on the development of new and ethical AI models.
Customers and contributors can expect to see such features integrated into Shutterstock’s platform in 2023.
Forward-looking Statements
This press release contains forward-looking statements within the context of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts are forward-looking. Examples of forward-looking statements include, but are not limited to, statements regarding guidance, industry outlook, future business, future results of operations or financial condition, future dividends, completion of acquisitions, and our ability to integrate businesses we acquire or may acquire. existing operations, new or planned features, products and services, management strategies, our competitive position, and the COVID-19 pandemic. You can define forward-looking statements by words such as “may,” “will,” “will,” “will,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” and the like. “”goals”, “plans”, “anticipates”, “projects”, “seeks”, “possibility”, “possibility” and other similar expressions and negative aspects 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 the forward-looking statements contained herein. report and the risks discussed under the heading “Risk Factors” in the Quarterly Report on Form 10-Q filed at the end of the quarter. June 30, 2022, as well as other documents that the Company may file with the Securities and Exchange Commission from time to time. As a result of such risks, uncertainties and factors, Shutterstock’s actual results could differ materially from the future results, performance or achievements expressed or implied in the forward-looking statements contained herein. The forward-looking statements contained in this press release speak only as of the date hereof, and Shutterstock undertakes no obligation to update the information contained in this press release or to correct forward-looking statements as a result of new information, future developments or results. except as provided by law.
ABOUT SHUTTERSTOCK
Shutterstock, Inc. (NYSE: SSTK), is the world’s leading creative platform for transformative brands and media companies. Shutterstock’s full collection is available directly and through its subsidiaries high quality licensed photography, vectors, decoration, 3D models, videos and music. Working with over 2 million contributors and growing, Shutterstock adds hundreds of thousands of images every week and currently has over 424 million images and over 27 million video clips.
Headquartered in 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 editorial and media companies worldwide, Pond5, the world’s largest video content marketplaceTurboSquid, the world’s largest 3D content marketplace; PicMonkey, a the leading online graphic design and photo editing platform; Offset, a collection of superior images; Shutterstock Studio, the ultimate custom creative shop; PremiumBeat, selected royalty free music library; Shutterstock Editorial is an excellent resource editorial photos and videos in the world’s media; Amp musichunting An AI-powered music platform; and Bigstockvalue-oriented stock media proposition.
Find out more here www.shutterstock.com and follow Shutterstock Twitter etc Facebook.
ABOUT LG AI RESEARCH
Entered December 2020 As a subsidiary of South Korean conglomerate LG Group, LG AI Research aims to create an optimal research environment and lead the next era of artificial intelligence (AI) to create a promising future using the latest artificial intelligence technology.
LG AI Research has been making continuous efforts to develop EXAONE, a super giant artificial intelligence. EXAONE stands for Expert Artificial Intelligence for Everyone with LG’s various features. EXAONE differs from previous models in that it is a model with a variety of super-giant artificial intelligence capable of processing both language and visual data. Using the world’s largest training dataset, this massive data learning enabled the easy generation of bidirectional images and text.
Please visit for more information www.lgesearch.ai.
Source: Shutterstock, Inc.
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