Common Music Group (UMG) has collaborated with Liquidax Capital to develop its portfolio of synthetic intelligence (AI) patents.
The 2 firms additionally arrange a brand new enterprise, Music IP Holdings Inc., which is able to deal with the licensing of those patents and associated applied sciences.
UMG has been growing AI instruments since 2020 to help artist promotion, information 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 concentrate on growing merchandise.
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To date, UMG has filed 15 patent purposes by Liquidax. The patents cowl a spread of areas together with instruments for safeguarding in opposition to AI misuse, programs that enable 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 accomplice in Music IP Holdings, added:
We’re laser targeted on advancing UMG’s management and their cutting-edge applied sciences, particularly AI, to empower their artists, defend inventive rights, foster partnerships, and improve UMG’s fan experiences worldwide.
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