The Walt Disney Company’s $1 billion equity investment in OpenAI will serve as “a way in” to artificial intelligence, which will have a significant long-term impact on Disney’s business, Disney CEO Bob Iger told CNBC’s “Squawk on the Street” on Thursday.
“We want to participate in what Sam is creating, what his team is creating,” Iger said. “We think this is a good investment for the company.”
Disney announced its investment in OpenAI as part of an agreement on Thursday that will allow users to make AI videos with its copyrighted characters on the startup’s app called Sora.
More than 200 characters including Mickey Mouse, Darth Vader and Cinderella will be available on the platform through a three-year licensing agreement.
As new AI products have exploded into the mainstream, several media companies, including Disney, have taken legal action in an effort to protect their intellectual property. Iger said Disney has been “aggressive” at protecting its IP, but he has been “extremely impressed” with OpenAI’s growth as well as their willingness to license content.
“No human generation has ever stood in the way of technological advance, and we don’t intend to try,” Iger said. “We’ve always felt that if it’s going to happen, including disruption of our current business models, we should get on board.”
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