Midjourney is the latest buzz in the artificial intelligence (AI)-based art creator market. Founded by David Holz, the company calls itself “an independent research lab exploring new mediums of thought and expanding the imaginative powers of the human species.”
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What Is Midjourney?
In simple terms, Midjourney is a text-to-image AI program. Users have to simply provide prompts with descriptions for the kind of images they want, and Midjourney displays apt image choices almost within a minute. It is an iterative process whereby users can keep refining the images they like by giving further prompts to get the most suitable one. Currently, Midjourney’s image-generating platform is available only on Discord, and users need to create or have a Discord account to use the program.
The tool is created by training on millions of images available online, which sometimes leads to infringement issues. Midjourney was opened to the public on July 12, 2022, and has already garnered huge popularity in a short time span. A user can create a certain number of images for free but later has to purchase a full membership to continue using its services.
What Are the Uses, Limitations, and Issues of AI Art?
The uses of AI generative art span multiple segments in the creative world, including architects, designers, publishers, developers, advertisers, fashion workers, and film creators.
One limitation of Midjourney put forth by architects worldwide is that the tool understands architectures from the West better than other regions and is unable to create new images based on suitable images from other regions.
One of the major problems of using AI generative art is copyright. Since the launch of Midjourney and other tools, artists worldwide have been complaining about infringement issues. Also, these tools stand to diminish the role of artists, who are now worried about their careers.
Who Are the Other AI Art Players?
Other notable players in the AI art generator space are OpenAI’s DALL-E and Stable Diffusion.
DALL-E was launched in January 2021 by OpenAI, which is a similar text-to-image program based on deep learning models using its GPT-3 (Generative Pretrained Transformer) language. OpenAI also launched a newer version called DALL-E 2, which gives four-times-better resolution images than its predecessor.
Stable Diffusion is another text-to-image developer that was launched in August 2022. The tool can also be used for other programs such as inpainting, outpainting, and image-to-image translation guided by a text prompt.
How to Invest in AI Art Stocks?
All three AI art generator companies mentioned above are private. Having said that, an investor wishing to gain exposure to the art space indirectly can invest in the below-mentioned social media, architecture, publishing, and art-related listed company stocks. These companies are the most likely potential users of AI art technology.
Click on any stock ticker to further research the stock on TipRanks’ unique platform.
Art Companies
- Shutterstock (NYSE:SSTK)
- Getty Images (NYSE:GETY)
- Meta Platforms (NASDAQ:META)
- Pinterest (NYSE:PINS)
- Snap Inc. (NYSE:SNAP)
Architecture Companies
Publishing Companies
- Scholastic (NASDAQ:SCHL)
- John Wiley Sons Class A (NYSE:WLY)
- Pearson Plc (NYSE:PSO)
Meanwhile, those of you interested in investing in the AI space can check TipRanks’ Best Artificial Intelligence Stocks or Best ChatGPT Stocks pages to compare and research the leading players.
