MIdjourney the Independent Research Lab
Midjourney is the new emerging technology with the potential for some serious growth.
Recently I was talking with an artist that mentioned a new beta product they were excited about covering design, human infrastructure, and AI. The product was Midjourney. By now, some may be aware but to give you a taste, below are a few visuals produced from the system:
Why is this noteworthy? These are not simply a collection of talented artists online, they are images created by an AI, informed by a set of inputs at the direction of the user. Depending on how Midjourney’s AI interprets the associated words and style, the AI will create an image itself.
As I think about Midjourney as a technology it reminds me of an external market tailwind. A new emerging technology that has potential to be applied across multiple industries, and seems to have some serious growth potential. Hard to be certain, but the amount of excitement surrounding this product may be worth paying attention to.
Already we’ve seen artists flock to this platform via Discord to begin gaining inspiration or flat out make creations. Currently Midjourney licenses the images from creators and the users are the owners of the images. This has already received the attention of some design studios and marketing firms that use generated assets as inspiration to design and create mockups for clients. Users are allowed to sell these images, but you waive the right to exclusivity if someone somehow recreates the image using similar inputs. However, paying for higher tiers of service can allow you to have a private discord where you can pick and choose which creations remain private or open to the public and the inputs themselves that lead to the creation.
Here’s a full breakdown:
It’s encouraging to see several communities utilize this for multiple purposes, some for a final product, and others to test ideas before fully committing. Midjourney has accounted for the commercial potential for the product as well. A company with at least $1M Gross Revenue, in which the assets produced by the user are meant to benefit its employer, is required to prepay up front.
Interesting things to note:
- It’s contained and supported in Discord. Subscribe by command /subscribe
- Creators on paid plans own the creations
- Creators agree to waive exclusive rights to their creations
- Privacy and speed come at a premium.
Although still early, there’s major potential for the art and creative industry. A few companies have already started, like My Totem and Looka, focused on developing marketing brands through automation, utilizing a few inputs from a user to produce logos and branding to help you get to market quicker. With products like these and Midjourney, opportunities for future and existing businesses to solve problems in new and creative ways seem multiplicative.