Image database giant Shutterstock has acquired London artificial intelligence company Datasine and launched an AI division.
It is one of a trio of deals for the New York-listed company, which also snapped up US-based AI platforms Pattern89 and Shotzr.
Datasine’s AI provides the insights and acumen for campaign decision-making. Its team of data scientists and psychologists have created algorithms that analyse the creative elements of an ad better than humans.
The company’s artificial intelligence reviews past campaign performance of digital assets and provides recommendations for optimising their performance.
Shutterstock has launched Shutterstock.AI, a newly formed subsidiary with insights and data at the heart of its mission.
It says the acqusitions will allow it to rapidly develop its own predictive performance capabilities to help creatives and customers accomplish their goals by making more data-informed content decisions.
https://businesscloud.co.uk/acquisition-and-new-cfo-for-listed-data-company/
In the near term, Shutterstock.AI will commercialise 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.
“With these three acquisitions, Shutterstock.AI will help our customers globally solve the biggest creative challenge they have – discovering and selecting the right content that is relevant, and that resonates with audiences. We want our customers to create with confidence,” said Stan Pavlovsky, Chief Executive Officer at Shutterstock.
“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.”
The aggregate cash consideration paid for Pattern89, Datasine, and Shotzr was approximately $35 million.