Shutterstock and OpenAI Extend Partnership for Six More Years
Shutterstock and OpenAI have agreed to continue their partnership for another six years, as announced on Tuesday (July 11). This extended collaboration aims to strengthen Shutterstock’s position as a leading provider of high-quality training data for OpenAI models, while granting OpenAI access to additional training data from Shutterstock’s library.
The Power of Collaboration
With this renewed collaboration, both Shutterstock and OpenAI will benefit from each other’s expertise. OpenAI will gain priority access to Shutterstock’s high-quality content library, enhancing its image models and empowering brands, digital media, and marketing companies to explore new possibilities in content creation and ideation.
Generative AI for Mobile Users
One exciting aspect of this partnership is the joint effort to bring generative AI capabilities to mobile users through the Giphy platform. As Shutterstock acquired Giphy from Meta in May, the collaboration with OpenAI will enable both companies to leverage their expertise and deliver innovative AI-driven solutions to mobile users.
AI Continues to Transform Businesses
Shutterstock’s expanded partnership with OpenAI is part of a larger trend where businesses integrate AI technology into their products and services. Companies like Salesforce and Checkout.com have also embraced AI by introducing new AI capabilities and an AI-powered identity verification tool, respectively. However, the cost of running and training AI solutions can be a significant challenge for many companies.
The Cost of AI
Training generative AI models requires substantial resources, including hardware, data storage, and intensive energy consumption. As reported by PYMNTS, training OpenAI’s GPT-3 model cost more than $5 million. To address this challenge, researchers at the Massachusetts Institute of Technology (MIT) have developed methods to reduce the cost and time required for training AI models.
- MIT claims to have reduced the cost of training a large language model (LLM) by 50% and can train LLMs in half the time using a more efficient training method.
- MIT’s Computer Science and Artificial Intelligence Laboratory explores the concept of smaller, specialized LLMs to improve efficiency and address privacy and accuracy concerns.
The extended partnership between Shutterstock and OpenAI signifies their commitment to advancing the field of AI. This collaboration not only benefits both companies but also enables them to deliver transformative solutions to brands, digital media, and marketing companies. As AI continues to shape various industries, partnerships and advancements in training methods are key to overcoming the challenges associated with running and training AI models.
This partnership extension between Shutterstock and OpenAI reflects the growing importance of AI in businesses. As companies embrace AI technologies, collaboration and innovation become crucial for success. The advancements in AI training methods showcased by MIT offer promising solutions to the cost and time constraints associated with AI deployment. With the continuous evolution of AI, it will be interesting to see how more businesses leverage its capabilities to drive growth and transformation.
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