Opinions expressed by Entrepreneur contributors are their own.
As an entrepreneur, you know the desire to build something that works financially and, if possible, in the long term. Stock photography, a market estimated to be worth $4 billion in 2023, has been a reliable source of passive income for years. But with AI-generated content becoming more prevalent, should you trade in your camera for a Photoshop-like algorithm?
The established powerhouse of stock photography
Stock photography is a proven way to monetize your artistic vision. Platforms connect you to a massive marketplace with millions of potential buyers. You upload your work once and earn from it repeatedly and indefinitely. One image alone can earn you hundreds or thousands of dollars through royalty-free sales.
Additionally, stock photo platforms offer licensing agreements, compensation and a clear legal framework for your business, reducing resulting legal risks for everyone involved.
Related: How modern entrepreneurs can benefit from searching for images and videos
The legal and ethical considerations of AI
AI-generated content is the new kid on the block and brings with it opportunities and challenges. Many companies have started selling generative AI but needed to learn more about the needs of stock photography.
Therefore, this new exciting frontier is not without legal difficulties, particularly with regard to copyright ownership, the risk of infringement of intellectual property rights and the need for consent from individuals or models – issues that traditionally created content does not raise.
AI tools have been trained and still largely train on existing images, raising questions about authors’ permissions. Without clear transparency and compensation mechanisms, most artists have not and will not release their work for training or use of AI, on the contrary. So how do you know how much or to what extent your AI-powered image is derived from another artist’s intellectual property? And how high, if any, are your liabilities? Can you create images of people safely and legally? Any unauthorized commercial and even editorial use of someone’s likeness could have significant legal consequences for you and your customers.
Also, who owns the copyright: the AI developers, you, or someone else? A recent ruling says that AI works cannot be protected by copyright, so creators who use such tools are just… tools. If you use AI to generate content, you may find yourself in a less clear legal position: image prompter versus indisputable copyright holder.
Real vs. generated
For image entrepreneurs, success lies in creating distinctive images. Established industry names have signature styles that have been perfected over the years. AI primarily reproduces techniques and styles in a hyper-realistic manner, with results that potentially dilute artistic branding to the point of exhaustion and ultimately fail to produce authentic, diverse images. The crucial question arises: What will happen to creativity if the market is flooded with images that look too similar due to the widespread use of AI? Market saturation affects sales. Therefore, it is a matter of artistic integrity and a necessity for your commercial success that you take a unique approach to your work.
AI could be suitable for abstract concepts for image buyers, but conveying authenticity through AI remains difficult. The audience longs for authenticity and needs relatable images. True authenticity comes from the nuanced perspectives of people who can understand and grasp the larger context. In addition to distinguishing the real from the fictitious, audiences can also gain confidence in brands or services when relying on AI-generated images.
Many customers purchase visuals with high SEO results in mind. Original photos with reliable metadata are a big win, and using natural-looking photos will increase user engagement. Since AI-generated content can lead to content removal, original photos save your customers from serious SEO problems.
AI-generated images often lead to ethical dilemmas regarding deception, misrepresentation and fake news in areas such as journalism or historical documentation. Improving or changing reality undermines credibility and authority and can harm your service.
Related: I tried 3 AI headshot generators, 1 might work for LinkedIn
Why you should work with ethical partners in visual storytelling
Whether you’re buying or selling images, stock photo platforms remain the safest and most reliable place for high-quality, ethical content. Stock photography has many facets and AI has only just begun to enter this landscape.
Explore different platforms, review their content acceptance policies and AI content approaches, and find the platform that suits your goals and audience. Platforms typically emphasize ethical and legal content, ensure that all uploaded images are original and copyrighted, and review each photo before publishing. You can be confident that you are licensing high quality and ethical content.
Additionally, these generative AI platforms are at the forefront of ethical discussions about content creation, particularly with regard to compensating copyright holders. By including such content according to clear ethical guidelines, they set a precedent for the use of AI and AI-generated content. Creators may be limited to using AI tools that grant full rights or may be required to clearly label AI visuals.
Related: Deepfakes are lurking in 2024. Here’s how to navigate the ever-growing AI threat landscape
The bigger picture
AI technology is about progress, and stock photography is ready to embrace it, provided that both creative communities and image buyers benefit. There is a general understanding in the industry that AI is a tool designed to expand and enrich the needs of users, be it creating works of art or improving specific designs. AI is ideal for filling gaps left by photographic images, such as futuristic concepts, utopian landscapes or imagining hypothetical situations.
However, the lack of an official regulatory system means that image entrepreneurs, platforms and content users are still breaking new ground. Before using AI for perfect results, you should weigh its advantages and disadvantages. Like content creation, content creation must be done responsibly, with sound judgment and on a legal basis.
Related: What’s stopping you from using generative AI in your business?
Turn your passion into a thriving portfolio
So is stock photography still relevant for entrepreneurs? Absolutely! AI-generated content is in demand, but quality, authenticity and legal certainty are driving customers to prefer stock photography. As technology evolves and legislation eventually introduces regulations, the choice may come down to personal preference, but uniqueness will continue to be a key differentiator.
Keep the camera, use platforms like Dreamstime, stay informed, and most importantly, let your unique storytelling style shine through your lens. Here’s how to build a successful image business that will thrive over the years and withstand technological advances.