Tag: Shutterstock deal

Highlights Apple licenses millions of Shutterstock images for AI model training. Deal valued between £20 and £40 million enhances Apple's data resources. Tech giants like Meta, Google, and Amazon also pursue similar data acquisitions. iOS 18 to introduce AI-powered features, showcasing Apple's AI advancements. Major tech companies are scrambling to secure access to vast collections of data, such as images and written works, to train their cutting-edge AI models effectively. Apple is keen to join this fray and has recently struck a deal to license millions of images owned by Shutterstock, a prominent stock image website. Apple and Shutterstock Joining Hands Apple and Shutterstock Joining Hands The value of this agreement is estimated to be somewhere between £20 and £40 million, and it was reportedly signed in the months following the release of the groundbreaking ChatGPT in late 2022. Apple is not alone in this pursuit. Industry giants like Meta, Google, and Amazon have also inked similar deals with Shutterstock, recognising the vital role high-quality data plays in developing sophisticated AI systems. The significance of content acquisition for AI development is further highlighted by reports suggesting that Meta had even considered acquiring a major book publisher like Simon & Schuster. This move would have granted the company access to an extensive library of written works, further enhancing its AI training capabilities. Apple AI Coming on iOS 18 Apple AI Coming on iOS 18 While Apple has been perceived as a bit slow to embrace the recent AI hype, the company is determined to change this narrative. With the upcoming release of iOS 18, expected to be unveiled at the Worldwide Developers Conference (WWDC) on June 10th, Apple is set to showcase AI-powered features that aim to elevate the iPhone user experience. The race to acquire content for AI training underscores the immense potential and importance of this technology. As companies like Apple, Meta, Google, and Amazon continue to invest in AI development, they recognise the need for vast and diverse data sets to create truly intelligent and capable systems. This emerging mini-economy of content repositories promises to fuel further advancements in AI, enabling tech giants to push the boundaries of what is possible. FAQs Why has Apple licensed images from Shutterstock? Apple's recent deal to license millions of images from Shutterstock marks a significant step in gathering diverse and high-quality data to train its AI models. This strategic move allows Apple to enhance the capabilities of its AI systems by providing a vast repository of images, crucial for developing more sophisticated and accurate AI functionalities. How much is Apple's deal with Shutterstock worth? The licensing agreement between Apple and Shutterstock is estimated to be valued between £20 and £40 million. This investment underscores Apple's commitment to advancing its AI technologies by securing access to extensive data sets necessary for training AI models effectively. What are other tech giants doing in terms of AI development? Other major tech companies, including Meta, Google, and Amazon, have engaged in similar initiatives to acquire large volumes of data for AI training purposes. These efforts highlight the industry-wide recognition of the importance of high-quality, diverse data sets in creating more advanced and capable AI systems. Meta's consideration of acquiring a major book publisher illustrates the lengths to which companies are willing to go to secure valuable content for AI development. What can we expect from Apple's AI in iOS 18? With the upcoming release of iOS 18, Apple is expected to introduce a range of AI-powered features designed to enhance the iPhone user experience. While specific details are yet to be unveiled, users can anticipate improvements in personalization, efficiency, and functionality, all driven by the latest advancements in AI technology. Also Read: Apple’s iPhone 16 to Revolutionize with AI Integration in iOS 18 Also Read: Apple’s iOS 18 Is Likely to Be Its Most Ambitious Update Yet: Mark Gurman Also Read: Apple Reportedly Acquires DarwinAI to Boost iOS 18 AI Features and More

Tag: Shutterstock deal

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