Eros Investments, a leading Global Media, Entertainment & Technology portfolio of ventures, announced a strategic partnership with an emerging tech company, Stability.ai to form a joint venture for South Asia geography.
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Stability.ai is a first of its kind platform dedicated to designing and implementing solutions using collective intelligence and augmented technology in different sectors of life that are accessible to all. Their impactful solutions affect a range of sectors, from entertainment, to business, health and other social initiatives. Eros Investments will incorporate Stability.ai’s model called ‘Stable Diffusion’ which includes open-source image generation to manifest ideas and dreams as immaculate art pieces using words. Stability.ai battles the norm set by big tech companies by using this form of image generation to challenge the barriers that prevent people from accessing Artificial Intelligence and its benefits. Their goal for the Stable Diffusion model is to ‘Enable creativity for anyone’ and have generative art be accessed everywhere. Eros and Stability.ai are working to bring this technology that was only privileged to a few, to every Indian to reflect their creativity & imagination.
Eros Investments plans to leverage this technology for its affiliate company Xfinite that has access to 12,000+ movie asset library, launch generative NFT and make the tool available to creators for self-expression on Mzaalo, the watch to earn blockchain platform by Xfinite.
Deep Ai technology and its use cases go well beyond the spectrum of entertainment and this joint venture will focus on three key areas of collaboration across industry sectors and other partners.
- Generative Meta-Humans: The evolution of this technology is suited to developed 3D rendering of individual avatars, the use cases of this would be within immersive AR/VR content, gaming and the Metaverse. This partnership will allow for fictional content creation as well as individual identity that is dynamic on a daily basis.
- Education: This sector is going to be a stepping-stone in transformation wherein every child learns at their own pace in the language of their comfort. The AI model will allow each student to customize content based on their adoption of the materials for progressive learning at scale.
- Healthcare: Covid-19 has made the world more aware of personal healthcare, however the need for healthcare stems from facets of fitness, nutrition, tracking, identification, and solution. This AI model will be custom for everyone allowing for them to identify their current health vitals, methods to improve and track that on a periodic basis.
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Commenting on the announcement, Kishore Lulla, Chairman Eros Investments, said “Emad and the fabulous team at Stability.ai have developed this visionary technology with the capability of super-compute that is amongst the top 10 in the world. Users now have an opportunity for creative expression at a pace that didn’t exist before. We also plan to deploy this technology across Eros Investment’s affiliate company Eros Now that has access to a registered community of over 200 million users. In addition to this there are use cases of the technology across the metaverse and the creator economy for mass adoption. Deep AI technology will be the future of product differentiation and we are excited to lead this revolution.”
Emad Mostaque, Founder & Chief Executive Officer, Stability.ai said, “India is a fascinating digital market with over 600+ Million users and immense creative capability across users. Our vision for this technology is to provide the base layer to the sectors of entertainment, education, healthcare and others and to allow for innovation by the users and peers from business. Eros is the perfect partner for this technology as premium experiences at mass adoption and innovation is core to their ethos of the group. This partnership will help transform not only how we deliver personalization to the consumers but also to re-orient our lifestyle between the offline and online world.”
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