After a few dormant months for AI news (at least compared to the first few months of the year), it feels like the major AI industry players are once again in a back-and-forth arms race unveiling new projects, partnerships and technologies left and right.
On the heels of new innovations from the likes of Pika Labs, Stable Diffusion and Meta, we now have some new reports of Runway ushering in a new age of enterprise-level AI video generation thanks in part to their new partnership with Getty Images.
Aimed squarely at large-scale enterprise customers, this new partnership promises to launch new video models to address companies’ ever-growing need for high-quality, customized content… with AI of course. Let’s explore what this could mean for the industry overall.
Runway and Getty Images
Announced by Runway, this new partnership between these two brands is meant to provide a new baseline model upon which companies will be able to build their own custom AI models for the generation of video content. This new Runway and Getty Images Model (aka RGM) will give Runway enterprise customers the ability to fine-tune the model with their own proprietary datasets.
“We’re excited to work with Runway to help enterprises further creativity and exploration with AI in responsible ways. When you combine human talent and skill with powerful technology, the possibilities are tremendous, and that potential is particularly exciting when it comes to creating with video.” — Grant Farhall, Chief Product Officer at Getty Images.
This partnership is ideal for companies in all fields the brands say, as whether you’re a company in Hollywood studios, advertising, media or broadcasting, it would make sense that if you’re going to use AI, you’d want it to be your own AI. At the very least you can ensure that it’s safe and legal to use.
Runway for Enterprise
What this news also signals is a stark shift in the AI industry away from the consumer-level (albeit a novelty consumer-level at this point) and more focused on enterprise and B2B needs. In particular for Runway, one of the larger and more established AI brands out there, launching a new enterprise channel should help them get ahead of their competition.
“Runway’s collaboration with Getty Images takes our mission to empower creators with a new generation of AI tools to a new level of creative control and customization. This will unlock new commercial uses and new video products for companies, and we're looking forward to seeing the outputs." — Runway CEO and co-founder, Cristóbal Valenzuela.
With Getty Images specifically, Runway promises to continue to push the boundaries of what’s possible with AI and video generation with aims to make it easier than ever for enterprises to produce professional, engaging and brand-aligned content — possibly with lower budgets and by spending less time and resources on traditional video programs.
What Does This Mean for the Traditional Video Industry?
And that’s the news behind the news here it seems. This latest enterprise partnership between these two brands is most likely going to affect jobs in the traditional video industry as these big companies and institutions are some of the biggest providers of video work.
If AI is truly changing the paradigm, it would only make sense that these companies would want to explore just how much they could save, or at least reallocate, towards AI video content production rather than the traditional methods of paying for producers, writers, directors, crew members and editors and post-production studios.
Still, this is just news of a new partnership, we’re still at least several stages away from major industry shifts in this space. But, if you’re worried about change coming, you’re probably not taking solace in this news as it signifies more than ever that change is indeed on the way.
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