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Shutterstock Joins Forces with LG AI Analysis to Advance AI Know-how to Revolutionize the Inventive Journey

By creating responsibly made AI instruments constructed with designers and entrepreneurs in thoughts, Shutterstock leads the cost in streamlining the artistic course of for all

By way of its Contributor Fund, Shutterstock will proceed to compensate artists for his or her contributions to the event of this new AI know-how.

NEW YORK, Nov 17, 2022 /PRNewswire/ — Constructing on its promise to allow its customers to provide their greatest work with unbelievable content material and revolutionary instruments, Shutterstock, Inc. (NYSE: SSTK), right this moment introduced its long-term partnership to advance AI-powered know-how with LG AI Analysis. By combining Shutterstock’s metadata and world-class content material with LG AI Analysis’s R&D capabilities, the businesses will convey EXAONE, LG’s AI picture technology mannequin, EXAONE Atelier, a artistic AI toolkit, and AI-based picture captioning to the worldwide market. That is Shutterstock’s newest initiative to supply its companions, clients and contributors with ethically pushed AI know-how throughout all levels of the artistic workflow, because it continues to collaborate with business leaders to responsibly form the way forward for generative AI.

“LG AI Analysis has been working intently with Shutterstock as its most trusted and strategic companion to develop EXAONE, a super-giant AI that may generate artistic visible pictures and captions primarily based on distinctive multi-modal structure and an enormous variety of pictures and texts, mentioned Dr. Kyunghoon BaeChief of LG AI Analysis. “Along with Shutterstock, LG AI Analysis is constructing profitable industrial circumstances of EXAONE and exploring model new alternatives primarily based on EXAONE Atelier, a artistic AI toolkit that’s designed to encourage designers and creators by leveraging generative AI. We’re able to collaborate with all companies to make our world extra artistic — impressed by AI and designed by people.”

“Since our inception virtually 20 years in the past, Shutterstock has been dedicated to supercharging creativity by offering its customers with the elements to energy a flawless inventive expertise,” mentioned Paul HennessyChief Govt Officer at Shutterstock. “Our partnership with LG AI Analysis continues to ship on that mission by bringing AI instruments to our clients that automate the non-creative components of the method by AI picture captioning and actualize visions immediately by generative AI fashions. Whether or not or not it’s for a CMO or a contract Inventive Director, the AI-powered instruments we’re constructing remove key ache factors of the artistic course of for all and open up more room for creativity to stream.”

Increasing Our Generative AI Footprint
Shutterstock has chosen to companion with LG AI Analysis, a worldwide pioneer in generative analysis that’s equally invested in taking an moral strategy to create AI know-how. LG AI Analysis’s subtle AI mannequin, which can be built-in into Shutterstock’s platform, is being educated with hundreds of thousands of high-resolution pictures and metadata from Shutterstock and can convert text-based prompts into pictures. Contributors whose works had been used to coach the mannequin can be compensated by way of Shutterstock’s Contributor Fund and also will be compensated each time new generative content material that makes use of their IP is created and licensed by clients.

AI Picture Captioning: A Recreation-Changer for the Inventive Workflow
LG AI Analysis’s EXAONE know-how may also convert pictures into high-quality descriptions and key phrases to explain and label content material, which can assist clients discover belongings quicker. By integrating this AI captioning functionality, clients will be capable to robotically add labels and descriptions to content material that they add and retailer with Shutterstock — making it simple to remain organized and discover the belongings customers want, once they want them.

A Collaborative Strategy Towards Business Training
In line with a survey carried out by Shutterstock, two thirds of its clients and contributors are desirous about studying about AI-generated content material from the corporate. To fulfill this rising curiosity and share greatest practices and learnings with the business, Shutterstock and LG AI Analysis will take part in business shows, together with on the IEEE/CVF Convention on Laptop Imaginative and prescient and Sample Recognition in Vancouver in June 2023and co-host occasions to guide the worldwide dialogue on new and moral AI mannequin growth.

Clients and contributors can anticipate to see options like these built-in into Shutterstock’s platform in 2023.

FORWARD-LOOKING STATEMENTS
This press launch comprises forward-looking statements inside the that means of the Non-public Securities Litigation Reform Act of 1995. All statements apart from statements of historic truth are forward-looking. Examples of forward-looking statements embody, however usually are not restricted to, statements concerning steerage, business prospects, future enterprise, future outcomes of operations or monetary situation, future dividends, our capability to consummate acquisitions and combine the companies we’ve got acquired or could purchase into our present operations, new or deliberate options, services or products, administration methods, our aggressive place and the COVID-19 pandemic. You possibly can establish forward-looking statements by phrases corresponding to “could,” “will,” “would,” “ought to,” “might,” “anticipate,” “goal,” “anticipate,” “consider,” “estimate, ” “intend,” “plan,” “predict,” “undertaking,” “search,” “potential,” “alternatives” and different related expressions and the negatives of such expressions. Nonetheless, not all forward-looking statements comprise these phrases. Ahead-looking statements are topic to recognized and unknown dangers, uncertainties and different elements that would trigger our precise outcomes to vary materially from these expressed or implied by the forward-looking statements contained herein. Such dangers and uncertainties embody, amongst others, these mentioned below the caption “Threat Elements” in our most up-to-date Annual Report on Kind 10-Ok and our Quarterly Report on Kind 10-Q for the quarter ended June 30, 2022, in addition to in different paperwork that the Firm could file on occasion with the Securities and Change Fee. Because of such dangers, uncertainties and elements, Shutterstock’s precise outcomes could differ materially from any future outcomes, efficiency or achievements mentioned in or implied by the forward-looking statements contained herein. The forward-looking statements contained on this press launch are made solely as of this date and Shutterstock assumes no obligation to replace the knowledge included on this press launch or revise any forward-looking statements, whether or not on account of new info, future developments or in any other case, besides as required by regulation.

ABOUT SHUTTERSTOCK
Shutterstock, Inc. (NYSE: SSTK), is the leading global creative platform for transformative brands and media companies. Directly and through its group subsidiaries, Shutterstock’s comprehensive collection includes high-quality licensed photographs, vector, illustration, 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 more than 424 million images and more than 27 million video clips available.

Headquartered in New York City, Shutterstock has offices around the world 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 worldwide, Pond5, the world’s largest video-first content marketplaceTurboSquid, the world’s largest 3D content marketplace; PicMonkey, to leading online graphic design and image editing platform; offset, to high-end image collection; Shutterstock Studios, an end-to-end custom creative shop; PremiumBeat, a curated royalty-free music library; Shutterstock Editorial, a premier source of editorial pictures and videos for the world’s media; Amper Musicstill AI-driven music platform; and Bigstocka value-oriented stock media offering.

For more information, please visit shutterstock.com and follow Shutterstock on Twitter and on Fb.

ABOUT LG AI RESEARCH
Launched in December 2020 As an affiliate of South Korean conglomerate LG Group, LG AI Analysis goals to guide the following epoch of synthetic intelligence (AI) to comprehend a promising future by offering optimum analysis environments and leveraging state-of-the-art AI applied sciences.

LG AI Analysis has made steady efforts to develop the super-giant AI, EXAONE. EXAONE stands for “Knowledgeable AI for Everybody,” an skilled AI for everybody that LG goals for with varied options. EXAONE is differentiated from earlier fashions since it’s a multi-modal super-giant AI mannequin that may course of each language and visible information. With the world’s largest studying information getting used, this large quantity of information studying enabled simply creating pictures and texts bidirectionally.

For extra info, go to www.lgresearch.ai.

SOURCEShutterstock, Inc.

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