Want to learn the best business insights from remarkable speakers at Slush 2023, but don’t have the time to watch the full speeches on YouTube?
You’ve come to the right place. Below is a summary of a speech by Kia Kokalitcheva from Axios, Hovhannes Avoyan, co-founder and CEO of Picsart.
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<p class="h1-rich">🤏 TL;DR</p>
Picsart is a popular app with over 1.2 billion installations and 150 million monthly users, which started integrating AI features in 2017, initially with AI filters and then expanding to include features like background removal and upscaling. The future of visual creativity lies in AI as a co-pilot, empowering creators to do more with less previous experience. Picsart differentiates itself through user experience rather than technology, focusing on providing a frictionless creative flow.
<p class="h1-rich">✨ Summary</p>
Picsart's Introduction and AI Journey
- Picsart is a popular app with over 1.2 billion installations and 150 million monthly users.
- Picsart started integrating AI features in 2017, initially with AI filters and then expanding to include features like background removal and upscaling.
- Picsart introduced text-to-image tools, becoming one of the pioneers in this field.
Picsart's Impact on Visual Creativity
- Users often use Picsart for both fun and business purposes, with many teenagers using it to start their own small businesses.
- Users frequently edit images after applying AI features, showcasing their creativity and personal touch.
- The future of visual creativity lies in AI as a co-pilot, empowering creators to do more with less previous experience.
Ethical Use of AI and Building Clean Datasets
- Focus should be on the ethical use of AI applications, rather than debating the ethics of the technology itself.
- Companies like Picsart are gradually moving towards cleaner datasets, removing copyright content and using more synthetic content for training.
- Regulations should be put in place to prevent unethical use of AI, ensuring safety and preventing misuse.
Differentiation and User Feedback
- Picsart differentiates itself through user experience rather than technology, focusing on providing a frictionless creative flow.
- User feedback and competitor analysis help Picsart iterate and test new features quickly.
- Product market fit is achieved by understanding user behavior and rapidly experimenting with new features.
Advice for Entrepreneurs in AI
- Entrepreneurs should take AI seriously and find ways to incorporate it into their businesses.
- AI should be seen as a co-pilot or assistant, not as a competition, and should be embraced for its productivity-enhancing capabilities.
- Entrepreneurs should start learning and using AI early to stay competitive and seize the opportunities it offers.
Favorite AI Usage and AI Prediction for 2024
- The speaker enjoys coding with AI and creating working prototypes to communicate ideas effectively.
- A big trend in 2024 will be the use of AI in video production, potentially disrupting industries like Hollywood.