Shutterstock is redefining digital design by integrating generative AI into its platform, enhancing user experience and expanding its offerings in image, video, and 3D model generation.
Key developments include:
Shutterstock's strategic pivot to generative AI began in late 2022, recognizing its potential to disrupt traditional content creation.
The company launched Shutterstock.AI in January 2023, providing an accessible interface for users to generate images based on text prompts.
Partnerships with tech giants like Nvidia and OpenAI bolster Shutterstock's AI capabilities, particularly in 3D model generation.
Shutterstock ensures all AI models are trained on legally owned data, establishing a contributor fund to compensate photographers whose work informs AI training.
In 2023, Shutterstock generated $104 million from AI licensing, with projections reaching $250 million by 2027.
Future plans include expanding AI services into video generation, aiming to convert images into dynamic video content.
Dade Orgeron, VP of innovation, emphasizes that generative AI is not a threat but an opportunity to enhance design processes, making creativity more accessible for all.