New York, USA – Global creative platform Shutterstock has announced the launch of new subsidiary Shutterstock.AI, which aims to offer computer vision and predictive performance solutions with the goal of enhancing creative performance. To mark the launch, it has also acquired three artificial intelligence (AI) platforms to boost the offering.
Said platforms are marketing platform Pattern89, content personalization platform Datasine, and image intelligence platform Shotzr. All of the companies have an aggregate cash consideration paid among them by Shutterstock amounting to US$35m.
Through the new offering, Shutterstock.AI will continue to rapidly develop its own predictive performance capabilities to help creatives and customers accomplish their goals by making more data-informed content decisions.
In addition, Shutterstock.AI will commercialize data assets within Shutterstock’s immense content library, which includes over 400 million images, videos, music tracks, and 3D models, as well as partner with innovative companies to grow their capabilities in computer vision and content insights to power the next generation of AI models.
Stan Pavlovsky, chief executive officer at Shutterstock, said the offering will help their customers globally solve the biggest creative challenge they have: discovering and selecting the right content that is relevant, and that resonates with audiences. He added that they want their customers to ‘create with confidence’ based on their content.
“To complement this, Shutterstock.AI will also help new customer segments accelerate the development of artificial intelligence, by unlocking the power of the data associated with our vast content library. From autonomous vehicles, to content moderation, to AI powered process automation, Shutterstock.AI’s high quality data and services will enable companies to develop the next generation of technologies,” Pavlovsky.
The company also stated that they see the future of creativity through the lens of performance, as the engine that will transform customers’ ideas into accomplishments.
“With the acquisition of these three creative AI companies, and the creation of Shutterstock.AI, Shutterstock is redefining what creativity means, and helping solve our customers’ problems by expertly navigating the availability of content. Looking ahead, Shutterstock.AI will develop predictive creative AI models, leveraging cutting edge technology to help customers make more informed content choices, providing more confidence about the performance of what they produce,” Shutterstock said in a press statement.