UMG Partners With Liquidax to Speed Up AI Patents Program: ‘Accelerating the Evolution of the Music Ecosystem’
Just two weeks after Universal Music Group’s chief digital officer said that, when it comes to AI, corporations without a seat at the table may “wind up on the menu,” UMG has launched a strategic partnership with an intellectual property advisory firm to speed its program for developing and obtaining patents using AI in music.
The partnership is with Liquidax, a South Carolina-based company that provides corporations with financial advisory, asset management and investment services related to their intellectual property (IP) holdings.
UMG has been using AI since 2020 to support artist marketing, analytics and distribution. By enlisting Liquidax as its partner, UMG has outside expert support to speed up its AI patent development program, from developing to obtaining patents to launching new products.
The companies have already filed 15 patents together — two of which have been received — “in the fields of musical collaboration, multi-media content and campaign creation, music & health, AI threat protection, music administration and rights management,” according to a press release. UMG said its company Music IP Holdings, Inc. will license the AI patents and other technologies.
UMG technology executive Chris Horton said this will help build on UMG’s track record of successful patent applications.
“We are looking forward to significantly advancing our internal efforts, with a dedicated focus on AI technology,” Horton, senior vp in UMG’s strategic technology division, said in a statement. “We intend to develop a strong … relationship that will amplify our ability to develop IP and take it to market, accelerating the evolution of the music ecosystem.”
Liquidax founder Daniel Drolet said their collaboration with UMG will be focused on protecting creative rights and enhancing “UMG’s fan experiences worldwide.”
Powered by Billboard.