Shutterstock AI-training deals

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Shutterstock, the stock image company, has entered into several significant AI-training deals with major tech companies, including OpenAI, Meta, Google, Amazon, and Apple. These deals involve licensing Shutterstock's extensive library of images, videos, and music to help these companies train their artificial intelligence models.

Recent News on Shutterstock's AI-Training Deals

  • Shutterstock and AWS Collaboration: Shutterstock.AI has teamed up with AWS to provide datasets from its 400 million asset library for various applications, including autonomous vehicles and e-commerce. AWS Data Exchange now includes these datasets, and AWS subscribers can also request custom collections tailored to their project needs.
  • Deals with Big Tech Companies: Shutterstock has made deals with OpenAI, Meta, Google, Amazon, and Apple, allowing them to train on its images. These deals were initially valued between $25 million to $50 million each but were later expanded. The CEO of Shutterstock, Jarrod Yahes, mentioned that the demand for licensing content is accelerating as technology companies seek more data access.
  • Generative AI and OpenAI Partnership: Shutterstock has entered into a six-year training data deal with OpenAI. This partnership will provide OpenAI with access to Shutterstock's image, video, and music libraries, along with metadata. In return, Shutterstock will have priority access to OpenAI's technology and will integrate DALL-E's generative AI tools into its platform. They also plan to bring generative AI capabilities to the GIPHY platform.
  • Apple's Entry into AI Training: Apple has signed a deal with Shutterstock to use its images for AI training, which is estimated to be worth around $25 to $50 million. This move comes as Apple prepares to showcase its AI efforts at WWDC 2024. Apple has been considered a laggard in AI services but is looking to change that narrative with the upcoming iOS 18, which is expected to feature AI-powered improvements.
  • Content and Legal Concerns: Shutterstock's AI-generated content has raised questions about copyright and quality. The company has taken steps to address these concerns by licensing its stock image library to OpenAI and other tech companies, ensuring that artists are compensated for their contributions. Shutterstock has also announced a partnership with Nvidia to develop an AI-powered 3D model generator.
  • Shutterstock's Ethical Approach: Shutterstock maintains a "contributor fund" to pay artists for the role their work plays in training generative AI. The company has also established licensing agreements with Nvidia, Meta, LG, and others to develop generative AI models and tools across various content types. Shutterstock emphasizes an ethical approach to AI, ensuring that artists are compensated and that the content used for training AI models is legally licensable.
In summary, Shutterstock has positioned itself as a key player in the AI training data market by licensing its vast content library to tech giants for their AI development needs. These partnerships not only provide Shutterstock with significant revenue but also contribute to the advancement of AI technology across various industries.
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