Common Music Group (UMG) has collaborated with Liquidax Capital to develop its portfolio of synthetic intelligence (AI) patents.
The 2 firms additionally arrange a brand new enterprise, Music IP Holdings Inc., which can deal with the licensing of those patents and associated applied sciences.
UMG has been growing AI instruments since 2020 to help artist promotion, information evaluation, and distribution. This newest step is supposed to hurry up the method of submitting and licensing patents whereas liberating up UMG’s groups to give attention to growing merchandise.
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To this point, UMG has filed 15 patent functions by means of Liquidax. The patents cowl a spread of areas together with instruments for safeguarding in opposition to AI misuse, programs that enable artists to create music collaboratively with AI, software program for working advertising and marketing campaigns, audio-based well being instruments, and higher methods to handle music rights and royalties.
Music IP Holdings will streamline the licensing course of for these innovations worldwide by centralizing it below one entity.
Chris Horton, UMG’s Senior Vice President for Strategic Expertise, defined that the corporate is dedicated to driving innovation and constructing on its lengthy historical past of analysis, improvement, and profitable patents.
Daniel Drolet, founding father of Liquidax and associate in Music IP Holdings, added:
We’re laser centered on advancing UMG’s management and their cutting-edge applied sciences, particularly AI, to empower their artists, defend inventive rights, foster partnerships, and improve UMG’s fan experiences worldwide.
Just lately, Grammarly, a grammar checking platform, acquired the substitute intelligence (AI) e-mail app Superhuman. What’s the aim of the acquisition? Learn the complete story.
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