Adobe Acquires Indian Generative AI Startup Rephrase.ai
Adobe has acquired Indian generative AI startup Rephrase.ai to deliver AI-driven video content to its customer base.
American design software giant Adobe has acquired Indian generative AI startup Rephrase.ai to deliver AI-driven video content to its customer base, as reported by Indian media house, the Economic Times.
As part of the deal, the majority of Rephrase’s team is set to join Adobe, marking a significant milestone as Adobe’s first acquisition in the generative AI and video-tooling space. Notably, this acquisition positions Rephrase as the first Indian startup to be acquired by Adobe.
Expressing enthusiasm about Rephrase’s expertise in generative AI video and audio technology, Adobe’s senior vice president and general manager of creative cloud, Ashley Still stated,
“The Rephrase.ai team’s expertise in generative AI video and audio technology and experience-building text-to-video generator tools will extend our generative video capabilities and enable us to deliver more value to our customers faster, all within our industry-leading creative applications.”
In terms of financial transactions, Rephrase’s investors are poised for a complete cash exit, with founders set to receive compensation in both cash and Adobe stock.
The move is indicative of the intensifying competition in the generative AI space among major tech companies, with Microsoft Azure recently unveiling text-to-speech capabilities for digital avatars through its Azure AI speech service.
Adobe’s spokesperson emphasized the company’s commitment to leveraging new talent and technology to drive growth and create enhanced value for stakeholders.
Adobe is Betting Big on Generative AI
Last week, Adobe introduced Project Sound Lift, an AI-powered technology designed to dissect speech recordings within videos into distinct tracks of voices, non-speech sounds, and other background noise, at the Adobe MAX event in Japan.
The AI technology addresses a common challenge faced by video creators struggling with poor audio quality and various issues such as wind interference, sub-optimal microphone placement, crowd noise, and other audio disturbances. Adobe emphasized that these challenges often render videos unusable, impacting both hobbyists and professional filmmakers.
Developed by speech AI researchers at Adobe Research, Project Sound Lift offers a user-friendly solution to enhance audio recordings with a single click. The software’s practical applications make it a valuable tool for content creators seeking to overcome the hurdles associated with audio quality in video production.
Last month, Adobe introduced Project Primrose at its annual conference, which is a sparkly silver interactive dress that utilizes generative AI to change its fabric pattern, colors and style in real time. The project aims to develop a dress that is “wearable, versatile, and easily adjustable,” catering to the needs of content creators and designers during the design phase.
The tech firm has also introduced three new generative AI models, including the Firefly Image 2 model, which enhances features like Photoshop’s Generative Fill, and two models for generating vector images and design templates.
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