TikTok owner ByteDance launches text-to-video AI, MagicVideo-V2

TikTok owner ByteDance launches text-to-video AI, MagicVideo-V2

ByteDance, the company behind TikTok, has released a new artificial intelligence tool called MagicVideo-V2 that significantly pushes boundaries in text-to-video generation.

MagicVideo-V2 leverages state-of-the-art AI to produce high-quality video content from text inputs. In human evaluations comparing videos created by MagicVideo-V2 and other leading text-to-video generators like Pika 1.0 and Stable Diffusion-XT, ByteDance’s new tool noticeably outperformed competitors.

According to the project’s GitHub page, it combines a “text-to-image model, video motion generator, reference image embedding module and frame interpolation module into an end-to-end video generation pipeline.”

The MagicVideo-V2 model starts off by creating a 1024×1024 image that depicts the inputted text. That still image is then animated, enhanced, and refined. Finally, the interpolation module lengthens the animation to 94 frames. This creates a richly animated output.

That’s the science but in practical terms how might MagicVideo-V2 be used?

In theory, it could streamline video creation for social media influencers and marketers, help drastically increase video production for media organizations or create animated clips for education and entertainment.

There have been huge advances in video generation AI

The rate at which generative AI is improving is high and shows no signs of slowing down. Stability AI, the company behind Stable Diffusion, recently began experimenting with 3D model generation and also launched a subscription pricing model. Runway, an AI video startup in New York, released a huge update to its flagship AI-filmmaking tool in September last year.

With its domination of the short-form video entertainment market through TikTok and Douyin (a Chinese video-sharing platform), ByteDance is in a position to maximize the value of MagicVideo-V2.

Mid last year it also launched an AI-powered music generator named Ripple. The opportunity for users to create incredibly intricate videos and add generated audio using these tools puts TikTok in front of its competitors in video-focused social media and it will be a challenge for others to keep up if their innovations continue.

Featured image credit: MagicVideo-V2

Ali Rees

Freelance journalist

Ali Rees is a freelance writer based in the UK. They have worked as a data and analytics consultant, a software tester, and a digital marketing and SEO specialist.

They have been a keen gamer and tech enthusiast since their childhood in are currently the Gaming and Tech editor at Brig Newspaper. They also have a Substack where they review short video games.
During the pandemic, Ali turned their hand to live streaming and is a fan of Twitch. When not writing, Ali enjoys playing video and board games, live music, and reading. They have two cats and both of them are idiots.

The post “TikTok owner ByteDance launches text-to-video AI, MagicVideo-V2” by Ali Rees was published on 01/12/2024 by readwrite.com