OpenAI, the company behind ChatGPT, has secured a license to access training data from Shutterstock, a leading stock image provider. This partnership allows OpenAI to utilize Shutterstock’s image, video, and music libraries to enhance its AI algorithms. In return, Shutterstock gains access to OpenAI’s artificial intelligence tools, including DALL-E, a text-to-image generator.
The announcement of this extended collaboration has had a positive impact on Shutterstock’s stock prices, with shares rising approximately 9% on the New York Stock Exchange. The strategic partnership between the two companies solidifies their symbiotic relationship and positions Shutterstock as the preferred data and distribution partner for leaders in generative AI.
With OpenAI gaining greater access to Shutterstock’s content, it can leverage the high-quality images, videos, and music for training its AI models. This access enables OpenAI to improve the capabilities of its image models, benefiting various industries such as brands, digital media, and marketing companies. OpenAI’s technology will also be available to Giphy users, as Shutterstock acquired the popular GIF library and search engine earlier this year.
In previous years, Shutterstock has been actively diversifying its offerings beyond images. The company acquired Amper Music, an AI-driven music platform, in 2020, and in 2022, it purchased video marketplace Pond5, expanding its music library to 1.6 million tracks. Shutterstock’s ownership of PremiumBeat, a royalty-free music library acquired in 2015, further strengthens its presence in the audio space.
OpenAI, founded in 2015, gained widespread recognition with the release of ChatGPT in late 2022, amassing 100 million users in record time. The company, structured as a non-profit organization with a for-profit division called OpenAI Limited Partnership (LP), has made significant advancements in AI-generated music as well. Projects such as Jukebox and MuseNet demonstrate OpenAI’s ability to generate music with neural networks.
This partnership between Shutterstock and OpenAI reflects both companies’ commitment to AI tech innovation. By joining forces, they aim to unlock transformative possibilities in content creation and ideation while ensuring fair compensation for creators. However, it’s worth noting that OpenAI is currently facing legal challenges from authors accusing the company of training its AI on copyrighted materials without permission. The outcome of these lawsuits may have implications for the music industry’s efforts to prevent the unauthorized use of copyrighted music in AI-generated compositions.
The collaboration between Shutterstock and OpenAI not only strengthens their respective positions in the AI industry but also paves the way for future developments in generative AI. With OpenAI’s access to Shutterstock’s vast content library and Shutterstock’s ability to utilize OpenAI’s cutting-edge tools, both companies are poised to foster further advancements in the field of artificial intelligence.
