Imagine a world where your most fantastical visions and creative ideas could be realized visually in less than sixty seconds. — like an airship floating through a technopunk landscape. An image for a print ad complete with smiling models holding up your product. Or a selection of new logos for your business ready to stamp onto your letterhead. Just type the words into your computer, and before the minute has passed, you’ll have a string of images that you can refine and tweak until they’re perfect for use.
And you can even do it for free.
That’s what AI can already offer, and it’s what Midjourney, one AI tool, makes so easy. It even makes the process fun.
BAD AI Show Tells You the How To’s
In a recent episode of the BAD AI Show, Travis Wright and I took viewers through the process of creating incredible AI images from scratch.
Midjourney is currently in beta, but with nearly 15 million members, it’s a pretty big beta. The more people try it out, the faster the algorithm will learn, so the company is keen to bring people on board to type in their prompts.
The program works through a bot on Discord, a social messaging app, so if you don’t have a Discord account already, you’ll need to sign up. You then have to give the Midjourney bot permission to access your Discord account.
It’s worth noting at this point that until you dip into your pocket for Midjourney’s premium services, your interaction with the bot will take place in a group chat.
You’re part of many people talking to the bot in public. You’ll be able to see other users’ prompts and images, and the images you generate will be available for others to see too. Click the Community Showcase on the top left for a gallery of recently generated pictures. Place the cursor over those pictures, and you’ll be able to see the prompts that generated them.
Prompts are the commands that tell the bot what you want to produce.
The more precise your prompts, the more control you’ll have over the image the algorithm produces. Ask simply for an image of a Japanese tree, for example, and Midjourney could give you a woodblock print of a ginkgo tree in front of a temple.
Or the bot could produce a stylized bonsai tree floating in a soap bubble. The result is random and differs every time Add details about the angle of the view, the style of the picture, or the quality of the image, and the algorithm will start to throw in more influences that affect the outcome.
One way to add those details is to examine the prompts used by other members of the community. Terms that turn up frequently include “4k,” “photorealism,” “line art,” and “inspired by,” with the name of a known artist pushing the algorithm to work in a particular style.
You can also combine different AI tools for MidJourney
On the podcast, I explained that I was recently listening to Simon and Garfunkel singing 50 Ways to Leave Your Lover. I asked ChatGPT to come up with a list of 50 ways, then fed some of those ways into Midjourney, asking the bot to make me an image of a man breaking up with his girlfriend.
But there’s no limit to the concepts you can throw into Midjourney, and combining ideas can often produce some fun results. It’s how creativity works: a meeting between two apparently unrelated ideas that generates something entirely new.
Here’s How to Start Entering Your Prompts
To start entering your prompts, select one of the Newcomer Rooms on the left. In the field at the bottom of the page, type “/imagine,” followed by the prompt.
Once you’ve entered the prompts, Midjourney will draw on the millions of images the algorithm has analyzed to produce four unique options within sixty seconds.
You’ll then be able to refine those images in three ways.
Beneath the pictures, rows of numbered buttons let you upscale each of the images or generate four new variations of the image you’ve selected. For example, you could ask the bot to stick with the picture but add more shade or change the background.
If you don’t like any of the results, then a button with a couple of arrows provides a way to generate a new set of pictures.
Remember that while Midjourney is a talented artist, it’s not much of a writer.
Letters become mangled, and words become indecipherable. You’ll need to add any text yourself in post-production. Once you’re happy, you can right-click the image you want, save it, and put it to use.
Midjourney and Copyright Law
Images made by Midjourney are not covered by copyright, so you’re free to use them however you wish. But that lack of copyright protection also means anyone can use them. In February this year, the US Copyright Office wrote to Kristina Kashtanova to partially rescind copyright protection for her comic Zarya of the Dawn. Although the text and arrangement of the images are protectable, the copyright office said the images “generated by Midjourney contained within the Work are not original works of authorship protected by copyright.”
It’s the same principle that applies to other works not created by humans, such as a selfie taken by a monkey or the daubs of an elephant on a canvas. There are no humans in the Midjourney process, so copyright law doesn’t apply.
You’ll Create Your MidJourney Journey With Delight
Use Midjourney to create images for use in a work of art, and anyone will be able to take those images and use them too.
On the other hand, if you use copyrighted assets to create your images, you could still run into trouble. Ask Midjourney to produce a picture of Superman using your company’s product, for example, and you’re likely to get a letter from DC’s lawyers if you use that image in an ad.
Experimenting with Midjourney is free, but premium plans starting at just $8 a month will increase the number of images you can produce each month, give you preference when the API is busy, and let you generate your fantastical visions in private.
Featured Image Credit: Photo by Alexander Ant; Pexels; Thank you!
Joel Comm
The Functional Futurist
Joel Comm is New York Times bestselling author, blockchain enthusiast, podcast host, professional keynote speaker, social media marketing strategist, live video expert, technologist, brand influencer, futurist and eternal 12-year old. With over two decades of experience harnessing the power of the web, publishing, social media and mobile applications to expand reach and engage in active relationship marketing, Joel is a sought-after public speaker who leaves his audiences inspired, entertained, and armed with strategic tools to create highly effective new media campaigns. His latest project is as co-host of The Bad Crypto Podcast, a top cryptocurrency show making the future of digital payments easy to understand.
London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.
According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.
The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:
“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”
The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:
“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”
The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.
The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.
Featured Image Credit: Photo from Kennek.io; Thank you!
Radek Zielinski
Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.
As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.
Goldman Sachs’ Cautious Approach to Implementing Generative AI
In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.
According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.
One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.
To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.
Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.
Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!
Deanna Ritchie
Managing Editor at ReadWrite
Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.
As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.
Streamlining Cryptocurrency Regulations for Innovation
To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.
The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.
Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.
The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.
Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!
Deanna Ritchie
Managing Editor at ReadWrite
Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.
