Common Music Group (UMG) has collaborated with Liquidax Capital to develop its portfolio of synthetic intelligence (AI) patents.
The 2 corporations 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 assist artist promotion, knowledge 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 deal with growing merchandise.
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To date, UMG has filed 15 patent purposes via Liquidax. The patents cowl a spread of areas together with instruments for shielding towards AI misuse, programs that permit 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 beneath one entity.
Chris Horton, UMG’s Senior Vice President for Strategic Know-how, 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 companion 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, shield artistic rights, foster partnerships, and improve UMG’s fan experiences worldwide.
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