Nvidia-backed platform that turns text into A.I.-generated avatars boosts valuation to $1 billion

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Key Points

• Artificial intelligence-based video generation platform Synthesia has raised $90 million from investors.
• The state of synthetic media today, How does synthetic media work?, 7 types of synthetic media with examples.
• Investor interest in A.I.

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A digital media company called Synthesia , which enables users to produce videos using AI, has raised $90 million from investors, including American chip giant 英伟达 .

The London-based business acquired the funds in a funding round that was spearheaded by Accel , a pioneering backer of Meta , Slack , and Spotify . As a strategic investor, Nvidia invested an unknown sum of money. Kleiner Perkins , GV (Google Ventures) , FirstMark , and MMC are additional investors.?

Victor Riparbelli , Matthias Niessner , Steffen Tjerrild , and Lourdes Agapito are researchers and businessmen who founded Synthesia in 2017. Synthesia creates software that enables users to create their own digital avatars to deliver business presentations, training videos, or even compliments to coworkers in more than 120 different languages.

Its ultimate goal is to do away with the need for cameras, microphones, performers, labor-intensive edits, and other expenses in the production of professional videos. To do this, Synthesia has developed animated avatars that mimic human speech and appearance while being produced by AI. The performers who perform as the avatars speak in front of a green screen in real life.

The state of synthetic media today

I see recently Synthesia reached a point where synthetic media technologies are — put simply —?smart enough to read initial sets of data and create new content based on that input.

The ability of AI-driven systems to generate audiovisual content is, in our opinion, one of the most exciting developments enabled by recent progress in deep learning.?

The upcoming paradigm shift in media creation and consumption will likely change the equation for entire industries, like education, entertainment, medicine, retail…?

Sounds intriguing? Let’s dive sliiightly deeper…

How does synthetic media work?

Synthetic media (concrete example)

Let’s look at video production, for example.

Creating a 5-minute video in the “traditional” way requires a lot of different resources. It’s a fairly fragmented and lengthy process that involves writing a script, hiring a studio and film crew, actors, cameras, microphones — you name it. It takes a lot of time and a lot of money, and that’s just the beginning.?

Think about editing, translating the footage into different languages, and updating it with new information. ??

It’s prohibitive to even think about all that.

But using AI, video creation is already being turned on its head.

You no longer need any of the above to create realistic videos. AI now enables you to generate synthetic videos directly from your browser by simply typing your text in any language and selecting an avatar (based on a real person). You can also have your own avatar created and your own voice synthesized. Unlike a traditional video, AI video is generated in minutes and you can update it anytime.

Pretty cool, don’t you think? ??

So what are the implications of this new, fully digitised process of creating content??

Well, they’re definitely broader than you getting your video in minutes.?

Synthetic media today is still in its infancy, but many companies are already using these solutions to create videos for various purposes (employee training, marketing, internal communications, etc.).?

And they only talking about video here — let’s not forget text, image, and voice.

Synthetic media will enable the creation of new forms of communication, and the (traditional)?media landscape will change completely.

What are synthetic and non-synthetic media?

When we talk about media, there are many different typologies, based on different criteria:?

• distribution (old vs. traditional media)
• production (analog vs. digital media)
• supporting technology (print, radio, video…)
• senses engaged (audio, visual, audiovisual, multisensory…)
• distribution (earned vs. shared media)
• creators (unilateral vs. user-generated content)…

Synthetic media are media that are partially or fully generated by computers. Non-synthetic media is any other media created the traditional way, i.e., media that is produced by human input.

Deep Learning + Fake = Deepfake

When we talk about synthetic media, we cannot ignore the infamous (yet descriptive) term “deepfake.” It’s a portmanteau of “deep learning” and “fake” that was first coined by a user on Reddit in 2017 and then became mainstream.

The most popular example on the internet is a TikTok channel with deepfakes of Tom Cruise that immediately went viral. There are also other examples you’ve probably heard of, like the deepfake of Barack Obama saying things the real Obama would never say in public, or David Beckham speaking 9 languages to fight malaria.

The more people are exposed to AI-produced content, the faster they will get used to it and be able to distinguish what’s real and what’s fake.

In recent years (or rather, months), it’s become clear: We’re rapidly moving towards a synthetic media future.

Technologies have matured, we’ve seen a surge in companies in the AI space?(38 billion U.S. dollars invested in AI startups in 2021), and most importantly — AI-generated content is being used every day by independent creators and Fortune 500 companies alike.?

Synthetic media is becoming a part of our daily lives.?

Don’t believe it? Let’s have a look at some examples:

7 types of synthetic media with examples

1. Synthetic video

Without a doubt, video is dominating the internet. Video is the most entertaining and, hence, the most successful method of communication in an age where attention is the new money.

Videos that are computer generated or synthetic can now be produced with a lot less time and money spent and still appear "real."

Here’s how anyone can make a video from their browser, without cameras, actors, and microphones:

2. Synthetic images

Dall-E 2?is an image generation system by OpenAI that uses AI to generate images based on text input.?

The image synthesis technology is certainly booming right now and you’ve probably seen some of the fun images brought to life by AI models.?

How about art, you say? Well, the system is capable of generating both realistic images and art. ????

Here are some of the famous examples:

3. Synthetic voice

Think of virtual assistants, call centers, and dubbing in foreign languages. The majority of them still use real human voices today, but it’s definitely about to change as artificial voice technology becomes more and more accessible.

The difference between human and synthetic voices is becoming increasingly imperceptible, and AI simulations of real people’s voices are becoming more and more popular.

4. AI-generated text

Since the release of ChatGPT, it’s been clear that advanced conversational AI will also have a big impact on?how we search for information?online.

In February, Microsoft became the first company to announce an AI-powered search engine. Microsoft had invested billions in OpenAI (the company behind ChatGPT), so integrating?ChatGPT?into Bing seemed like a logical next step. And just a few days later, Google unveiled the integration of its own conversational AI, Bard, into Google search.

5. AI influencers

Synthetic media also blurs the lines between where the digital realm begins and ends, and AI influencers generated by machine learning algorithms are a case in point.

Take perhaps the most famous one,?Lil Miquela.?

She has 3 million followers on Instagram and regularly collaborates with big fashion brands (like Chanel, Samsung, Calvin Klein…).?

The algorithmically generated star describes herself as a “19-year-old Robot living in LA” and represents a completely new category of digital identities.?

Is she real? Hard to say.?

6. Mixed reality

A combination of three essential elements sets the stage for creating true mixed reality experiences:

• Computer processing powered by the cloud
• Advanced input methods
• Environmental perceptions

7. Face swap

Ever tried swapping your face with someone else’s? It’s fun, right??

There are many apps out there that use AI to detect faces in photos or videos and replace them with other faces.?

This is the technology that lies behind the famous (and convincing)?deepfakes of Tom Cruise?and other “fake” celebrity accounts.?

While apps where one person's face replaces another's seem harmless at first glance, the technology can also be used for negative purposes (e.g., revenge porn, political propaganda, or bullying).

Investor interest in A.I.

Business Insider?previously reported?that Synthesia was in talks with investors to raise between $50 million and $75 million in new funds at a valuation of around $1 billion.

The report didn’t include detail about Nvidia’s involvement, nor mention the total $90 million sum raised.

Synthesia is one of many firms attracting interest from investors with AI and enterprise software that can reduce costs involved in certain business processes. Companies are looking to?lower expenses everywhere they can?to combat climbing inflation and prepare for a possible recession.?

Last week, French business planning software company Pigment?raised $88 million from investors?including Iconiq Growth, Felix Capital, Meritech IVP and FirstMark, in part to ramp up its investment in AI.

Conclusion

Investors are increasingly drawn to AI and synthetic media companies like Synthesia, recognizing their potential to transform industries and reduce costs. The recent $88 million funding secured by Pigment , a French business planning software company, highlights the significance of AI investments in optimizing operations, it underscores the growing interest in AI-driven solutions.

Business Insider?previously reported?that Synthesia was in talks with investors to raise between $50 million and $75 million in new funds at a valuation of around $1 billion.

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