SHUTTERSTOCK PARTNERS WITH OPENAI AND LEADS THE WAY TO BRING AI-GENERATED CONTENT TO ALL

• Shutterstock powers innovation excellence by increasing OpenAI partnership centered on delivering essentially the most superior inventive instruments within the business
• Shutterstock helps its contributor base with launch of fund geared toward guaranteeing artists are rewarded for contributions to AI datasets

NEW YORK, Oct. 25, 2022 /PRNewswire/ — Shutterstock, Inc. (“the Company”) (NYSE: SSTK), the main world inventive platform for transformative manufacturers and media corporations, as we speak unveiled its motion plan to launch its AI-generated content material capabilities in a way that’s accountable and clear for its prospects and contributors. In increasing its partnership with OpenAI, launching a fund to compensate artists for his or her contributions, and focusing its R&D machine on gathering and publishing insights associated to AI-generated content material, Shutterstock positions itself on the forefront of rising expertise — supercharging moral, inventive storytelling for all.

“The mediums to express creativity are constantly evolving and expanding. We recognize that it is our great responsibility to embrace this evolution and to ensure that the generative technology that drives innovation is grounded in ethical practices,” stated Paul Hennessy, Chief Executive Officer at Shutterstock. “We have a long history of integrating AI into every part of our business. This expert-level competency makes Shutterstock the ideal partner to help our creative community navigate this new technology. And we’re committed to developing best practices and experiences to deliver on our purpose, which is to empower the world to create with confidence.”

Shutterstock + OpenAI: Creativity on the Speed of Your Imagination

This collaboration introduces OpenAI’s seamless picture technology capabilities to Shutterstock audiences worldwide — providing prospects the flexibility to immediately generate photographs primarily based upon the factors they sort in. That’s what Shutterstock calls Creativity on the Speed of Your Imagination.

This settlement additional deepens the strategic partnership between Shutterstock and OpenAI, which started in 2021.

“The data we licensed from Shutterstock was critical to the training of DALL-E,” stated Sam Altman, OpenAI’s CEO. “We’re excited for Shutterstock to offer DALL-E images to its customers as one of the first deployments through our API, and we look forward to future collaborations as artificial intelligence becomes an integral part of artists’ creative workflows.”

When this integration launches on Shutterstock.com within the coming months, prospects will obtain direct entry to those AI picture technology capabilities bettering their inventive workflows. In flip, Shutterstock contributors will likely be compensated for the position their content material performed within the improvement of this expertise.

Shutterstock.AI Unlocks New Revenue Streams for Contributors

Shutterstock believes that AI-generated content material is the cumulative effort of its contributing artists. In an effort to create a brand new business commonplace and unlock new income streams for the Company’s artist group, Shutterstock has additionally created the framework to supply further compensation for artists whose works have contributed to develop the AI fashions. The Company additionally goals to compensate its contributors within the type of royalties when their mental property is used.

Establishing an Ethical and Equitable AI Framework

To promote an moral and inclusive framework for content material and AI, Shutterstock is a proud sponsor and participant within the World Ethical Data Foundation’s 2022 world convention. With a robust concentrate on the significance of inclusivity in expertise, from hiring to decreasing bias in programs and constructing checks and balances to assist guarantee moral and inclusive knowledge use, Shutterstock continues to drive developments in each tech innovation and DEI throughout the inventive industries.

And in an vital effort to guard the IP rights of its artists, photographers, and creators, Shutterstock continues to steer in growing coverage and procedures, and employs strategies to make sure that utilization rights and correct licenses are secured for all featured content material — together with AI-generated content material.

Experience the Power of Shutterstock.AI

Learn extra about Shutterstock’s initiatives surrounding AI-generated content material, together with an unique AI-generated assortment from Creative Producer Alex Ambroziak, at shutterstock.com/generate.

FORWARD-LOOKING STATEMENTS

This press launch incorporates forward-looking statements inside the that means of the Private Securities Litigation Reform Act of 1995. All statements apart from statements of historic truth are forward-looking. Examples of forward-looking statements embrace, however will not be restricted to, statements concerning steering, business prospects, future business, future outcomes of operations or monetary situation, future dividends, our means to consummate acquisitions and combine the companies we’ve 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 can establish forward-looking statements by phrases corresponding to “may,” “will,” “would,” “should,” “could,” “expect,” “aim,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “predict,” “project,” “seek,” “potential,” “opportunities” and different related expressions and the negatives of such expressions. However, not all forward-looking statements include these phrases. Forward-looking statements are topic to identified and unknown dangers, uncertainties and different components 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 embrace, amongst others, these mentioned below the caption “Risk Factors” in our most up-to-date Annual Report on Form 10-Ok, in addition to in different paperwork that the Company could file now and again with the Securities and Exchange Commission. As a results of such dangers, uncertainties and components, 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 data included on this press launch or revise any forward-looking statements, whether or not because of new data, future developments or in any other case, besides as required by legislation.

Shutterstock, Inc. (NYSE: SSTK), is the main world inventive platform for transformative manufacturers and media corporations. Directly and thru its group subsidiaries, Shutterstock’s complete assortment consists of high-quality licensed images, vectors, illustrations, 3D fashions, movies and music. Working with its rising group of over 2 million contributors, Shutterstock provides a whole bunch of hundreds of photographs every week, and at the moment has greater than 424 million photographs and greater than 27 million video clips out there.

Headquartered in New York City, Shutterstock has places of work all over the world and prospects in additional than 150 international locations. The Company additionally owns Splash News, the world’s main leisure information company for newsrooms and media corporations worldwide, Pond5, the world’s largest video-first content material market, TurboSquid, the world’s largest 3D content material market; PicMonkey, a main on-line graphic design and picture modifying platform; Offset, a high-end picture assortment; Shutterstock Studios, an end-to-end customized inventive store; PremiumBeat, a curated royalty-free music library; Shutterstock Editorial, a premier supply of editorial photographs and movies for the world’s media; Amper Music, an AI-driven music platform; and Bigstock, a value-oriented inventory media providing.

For extra data, please go to www.shutterstock.com and observe Shutterstock on Twitter and on Facebook.

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