In a significant move to bolster its artificial intelligence (AI) capabilities, Canva has acquired Leonardo.ai, a generative AI content and research startup. The acquisition aims to expand the scope of Canva’s AI tech stack and enable the company to offer more advanced features to its users.
The Acquisition Terms
While the financial terms of the deal have not been disclosed, Canva co-founder and chief product officer Cameron Adams revealed that it involves a mix of cash and stock. The acquisition brings on board Leonardo.ai’s 120 employees, including the executive team, who will continue to run the company independently.
Leonardo.ai: A Pioneer in Generative AI
Founded in 2022 by Jachin Bhasme, J.J. Fiasson, and Chris Gillis, Leonardo.ai initially focused on video game asset creation. However, the startup soon expanded its platform to cater to various industries, including fashion, advertising, and architecture. Leonardo.ai’s tools enable users to create and train AI models for image creation, and its API business allows customers to build their own tech infrastructure.
A Key Differentiator: User Control
Leonardo.ai differentiates itself from other generative AI art platforms by providing users with a high degree of control over the creative process. Its Live Canvas feature enables users to enter text prompts and create quick sketches, which are then used to generate photorealistic images in real-time.
Training Generative Models: A Questionable Approach?
While Leonardo.ai’s approach to generating AI models is innovative, there have been concerns raised about the potential consequences of using this type of technology. The training data used for generative models can be biased, leading to the perpetuation of stereotypes and discrimination.
Canva’s AI Ambitions
With the acquisition of Leonardo.ai, Canva aims to establish itself as a leader in the field of visual AI. Adams stated that the company has placed a strong focus on building an AI-powered workflow that includes generative solutions like image and design generation. By combining its existing capabilities with those of Leonardo.ai, Canva hopes to deliver new possibilities for teams and enterprises using its platform.
Impact on the Industry
The acquisition is likely to have far-reaching implications for the industry as a whole. As AI technology continues to advance, companies will need to adapt their strategies to remain competitive. The acquisition highlights the importance of investing in AI research and development, particularly in areas like generative models and user control.
What’s Next?
As Canva continues to integrate Leonardo.ai’s capabilities into its platform, users can expect a range of new features and tools that will enable them to create more sophisticated visual content. With the acquisition, Canva is poised to become a major player in the field of AI-powered creativity.
