American software multinational Adobe has acquired Bengaluru-based Rephrase.ai. According to a report by The Economics Times, as a part of the deal, a majority of Rephrase’s team members will join Adobe. Rephrase.ai. is a Bengaluru-based startup that provides artificial intelligence(AI)-powered video services.
The company was the AI partner for Mondelez International's award winning ad campaign #NotJustACadburyAd. It was an initiative aimed to help small businesses create unique and scalable avenues of engagement with their consumers. Local businesses could make personalised ads featured Bollywood star Shah Rukh Khan (SRK).
This is Adobe's first-ever deal in the generative AI and video-tooling space. Earlier this year, Adobe introduced Firefly, a creative generative AI models, foc sed on the generation of images and text effects. Adobe is actively designing generative AI to support creators In a recent Adobe study 88 percent of brands said content demand at least doubled over the last year and two-thirds expect it to grow 5X over the next two years. Adobe is leveraging generative AI to ease this burden with solutions for smarter solutions.
Adobe’s intent is also to build generative AI in a way that enables customers to monetize their talents, much like Adobe has done with Adobe Stock and Behance. Adobe has been developing a compensation model for Adobe Stock contributors and will share details once Firefly is out of beta.