Overview

• Apple has paid millions to license Shutterstock's vast library of images and videos for AI training, with the deal estimated between $25 million and $50 million.
• The licensing agreement aims to bolster Apple's AI models, as the company prepares to unveil new AI features at WWDC24.
• Other tech companies, including Google and Microsoft, have also pursued similar deals for AI model training, highlighting the industry's shift towards licensed content.
• Apple's upcoming AI features are expected to include generative AI capabilities on iPhones, with potential partnerships with Google or OpenAI.
• The iPhone 16's A-series chip may see an upgrade to support the enhanced AI processing, benefiting features like Siri.