Getty Images Launches Generative AI by iStock for Small Businesses, Designers and Marketers

Rhea-AI Summary

Getty Images (GETY) Announces Launch of Generative AI by iStock Powered by NVIDIA Picasso at CES 2024

Positive

• Generative AI by iStock provides an affordable and commercially safe tool for businesses to create powerful content
• Powered by NVIDIA Picasso, Generative AI by iStock is trained using high-quality content and proprietary data from Getty Images’ creative libraries
• Customers can have confidence in the content they generate with iStock’s standard $10K USD legal coverage
• Generative AI by iStock seamlessly integrates with iStock’s library of authentic and commercial-ready imagery, offering multiple ways to get the right visuals for any need
• Advanced generative AI features are enabled through APIs for easy integration into creative applications and plugins

Negative

• None.

Insights

Market Research Analyst

The introduction of Generative AI by iStock, powered by NVIDIA's Picasso, represents a significant advancement in the visual content creation market. This tool's integration with Getty Images' vast library and the provision of legal coverage are strategic moves to mitigate copyright infringement risks, a prevalent concern in creative industries. For businesses, this translates to a reduction in legal liabilities when sourcing visuals for marketing and advertising, potentially leading to cost savings and streamlined content creation processes.

From a market perspective, Getty Images is positioning itself to capitalize on the growing demand for AI-generated content. According to their VisualGPS research, nearly half of SMBs and SMEs are already leveraging AI for marketing. This trend suggests a burgeoning market segment that Getty Images is keen to capture. By offering an affordable, legally secure tool, they are likely to attract a wider customer base, especially among cost-conscious small and medium-sized businesses.

The ability to seamlessly integrate this tool through APIs into creative applications could lead to increased adoption and customer retention, as it enhances user experience and productivity. This strategic move may potentially drive revenue growth for Getty Images and could be a differentiator in the competitive landscape of visual content providers.

Legal Expert

Generative AI by iStock's legal coverage feature is a pivotal development for the company and its users. The assurance of $10K USD legal coverage for licensed visuals is a considerable incentive for businesses that might otherwise be hesitant to use generative AI due to the complexities of copyright laws. This coverage could serve as a competitive advantage for iStock, as it alleviates the concerns surrounding the use of AI-generated content and the potential for inadvertent copyright violations.

By engineering the AI to avoid generating known copyrighted elements, Getty Images is proactively addressing a major legal pitfall associated with generative AI. This approach not only safeguards the company but also its customers, potentially reducing the incidence of costly legal disputes. The legal indemnification offered at no extra cost could be a compelling value proposition that sets iStock apart in the marketplace.

Financial Analyst

The launch of Generative AI by iStock is a strategic initiative that could have financial implications for Getty Images. The service expansion into generative AI taps into a new revenue stream, diversifying Getty Images' product offerings and potentially enhancing its financial performance. The affordable pricing model is likely to encourage adoption among existing customers and attract new ones, which could lead to increased sales volume.

Moreover, the move to include advanced generative AI features and API integration for creative applications indicates a forward-thinking approach to product development. This could result in higher customer engagement and longer-term revenue generation from subscription models or pay-per-use licensing. The financial impact will depend on the market's response to this new offering and the effectiveness of iStock's marketing strategies in promoting the tool.

Launched at the Consumer Electronics Show (CES) and powered by NVIDIA Picasso, the new offering gives businesses an affordable option to explore commercially safe generative AI in their marketing and advertising visuals.

 A Media Snippet accompanying this announcement is available by clicking on this link.

NEW YORK, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Getty Images (NYSE: GETY), a preeminent global visual content creator and marketplace, today announced the launch of Generative AI by iStock, an affordable and commercially safe generative AI tool to help users and businesses easily turn their creative visions into powerful content.

Powered by NVIDIA Picasso, a foundry for custom generative AI models for visual design, and trained exclusively using high‑quality content and proprietary data from Getty Images’ creative libraries, Generative AI by iStock has been engineered to guard against generations of known products, people, places or other copyrighted elements. Not only does this mean businesses can have confidence in the content they are generating, but any licensed visual that a customer generates comes with iStock’s standard $10K USD legal coverage that customers have with iStock’s broader image and video libraries.

The tool works seamlessly with iStock’s library of authentic and commercial-ready imagery, including millions of exclusive photos, illustrations and videos. The addition of Generative AI by iStock gives customers multiple ways to get the right visuals for any need, including print marketing, social posts, online promotions and more.  

“Using AI, creatives gain the ability to produce anything they can imagine. Our own VisualGPS research shows that 42% of SMBs and SMEs are already using AI-generated content to support their marketing efforts. Our main goal with Generative AI by iStock is to provide customers with an easy and affordable option to use AI in their creative process, without fear that something that is legally protected has snuck into the dataset and could end up in their work,” said Grant Farhall, iStock’s Chief Product Officer. “Our AI Generator is easy to use, produces relevant and high-quality visuals, and is backed by our legal protection so customers can now safely use this new service, in combination with our amazing pre-shot library, to elevate their work.”

Customers will be able to download and license any generated visual, with legal indemnification at no extra cost, giving them a low cost of entry to explore commercially safe generative AI for their marketing efforts.

iStock is also enabling advanced generative AI features through APIs for easy integration into creative applications and plugins, allowing for the modification of images.

Generative AI by iStock is now available for all iStock customers in over 75 languages. To learn more and sign up, visit: https://www.istockphoto.com/ai/generation/about

Media contact:
Alex Lazarou
alex.lazarou@gettyimages.com

FAQ

What is the new offering announced by Getty Images (GETY) at CES 2024?

Getty Images (GETY) announced the launch of Generative AI by iStock, an affordable and commercially safe generative AI tool powered by NVIDIA Picasso.

How is Generative AI by iStock trained?

Generative AI by iStock is trained exclusively using high‑quality content and proprietary data from Getty Images’ creative libraries.

What legal coverage does iStock provide for the content generated using Generative AI?

Any licensed visual that a customer generates comes with iStock’s standard $10K USD legal coverage.

What is the main goal of Generative AI by iStock?

The main goal is to provide customers with an easy and affordable option to use AI in their creative process, without fear that legally protected content has snuck into the dataset.

How can customers access Generative AI by iStock?

Customers can learn more and sign up for Generative AI by iStock at https://www.istockphoto.com/ai/generation/