WPP has announced a strategic partnership and
investment in Stability AI, a five-year old London-based company known for developing the text-to-image AI model Stable Diffusion.
WPP said the alliance would help it develop
“cutting-edge” AI-driven content to its clients across various entertainment channels.
Stability AI has quickly become a leader in the generative AI space, backed by prominent
investors such as Greycroft, Coatue Management, Lightspeed Venture Partners, Sound Ventures, Sean Parker, Eric Schmidt and Prem Akkaraju.
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Its board members include Oscar-winning filmmaker
James Cameron, while Parker (Napster founder and the first president of Facebook) serves as executive chairman and Prem Akkaraju serves as CEO. The firm was named one of Time’s 100 most
influential companies of 2023.
The partnership will establish a joint R&D pipeline, giving WPP access to Stability AI’s models and workflows, which will be
integrated within WPP’s AI-driven operating system WPP Open.
Akkaraju said the alliance is “a pivotal partnership for Stability AI. Not only will [it] accelerate the
adoption we’re already seeing, but it’ll also enhance our ability to develop innovative products customized for creative professionals’ unique needs.”
“We’ve spent years
building the foundation for enterprise-grade creative tools, ensuring they are responsible, scalable, and ready for real-world applications,” Akkaraju added. “Now is the time to bring our
models and workflows to even more brands globally.”
WPP CEO Mark Read said, “The advertising landscape is evolving quickly, and AI is at the heart of that evolution. Our investment in Stability AI,
alongside our increased annual investment of £300m in AI and technology through WPP Open, ensures WPP and our clients remain at the forefront of this new era of innovation.”