November 10, 2020 4 minutes read

This article was translated from our Spanish edition using AI technologies. Errors might exist due to this procedure. Expert system is revolutionizing different markets, markets, and services. Nevertheless

, the imaginative markets and the art world have not yet been able to use the full potential of this technology. Two Chilean entrepreneurs created a platform to go further.Using the newest innovation, they allow developers, amateur filmmakers, visual artists, even the film and music industry

to use artificial intelligence algorithms in their work. This is Runway, a platform that integrates artificial intelligence and artificial intelligence to the world of art and creativity.Founded at the end of2018 by Cristóbal Valenzuela, Alejandro Matamala and Anastasis Germanidis, Runway began as a thesis task that

they established at New York University(NYU)-where they satisfied- while developing a postgraduate degree.Its developers define the platform as part of the brand-new generation of creative tools. If Photoshop and Adobe reinvented the innovative market a few decades back, Runway

is looking to do so for years to come.In this case, the bet of this start-up is that with their software application in the cloud, they can establish”artificial content “, that is, automatically generate, customize, and modify audiovisual material with expert system algorithms. Cristobal, Alejandro and Anastasis, creators of Runway. Courtesy image The production of content within the reach of
technology “We continue to create audiovisual material in the very same way that we have done for years and that makes the procedure unnecessarily slow, pricey and difficult. With AI algorithms anyone can create hyper-realistic animations in seconds and edit them immediately. Something that only Hollywood or big production business and special effects have been able to do so far,”describes Valenzuela.At the very same time, Runway makes it possible to reduce development times, in addition to equalizing access to this innovation for as lots of developers as possible.”These innovations are drastically changing the way we develop content since algorithms are currently efficient in generating images, text, video and noise in an ultra-realistic way”, explains Cristóbal; to which Alejandro includes”if we put these tools in the hands of people who have never ever accessed them in the past, they will start to think of new ways of producing art, creating content and telling stories”. Attention of the industry and financiers The impact of the platform started from when they launched a tweet asking the number of would use a tool like the one they wanted. In less than 2 days, they already had responses

from engineers from Facebook, Google, universities and even the media, suggesting that they found the possibility of an imaginative tool to inhabit artificial intelligence algorithms amazing. Right away after this, they produced the company and have actually not looked back.The path they have already taken a trip has been fast. As an outcome of their work, they have already produced interest from different mutual fund. In the same year that they developed Runway, they finished a$2 million financial investment round with US funds specialized in innovation research start-ups: Lux Capital, Amplify Partners Substance Ventures.But also, on a practical level, they have actually already performed essential tasks, such as a partnership with New Balance for the design of a shoe; be the software with which the rock band PRIVATE YACHT produced part of the audiovisual material of their most current album -being chosen for a Grammy Award;

be working on the development of brief films produced by IA, and even already teaming up with visual artists and the seventh art.Along with this, the reaction of cloud software has also originated from the scholastic world, which has led them to close alliances with numerous universities in the United States, such as NYU, MIT and UCLA; while in Chile the software is currently being utilized at the Universidad Adolfo Ibáñez, Universidad de las Américas, and the Pontificia Universidad Católica.At the moment, each action that Runway takes is a path towards the future and that is precisely the bet that its creators are making, by developing residencies or internships in the company for artists and scientists, so that they can deepen the usages and applications of the innovation they develop. This was a practice that they had executed prior to the outbreak of the coronavirus pandemic and that they will resume in a couple of more weeks, from their offices found in Brooklyn in New York City. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.