Launched in early July, Gen-3 Alpha represents a major leap forward from the previous free Gen-2 model, which Runway describes as “a significant improvement in realism, consistency, and motion compared to its predecessor.” In addition, video generation is much faster than in previous generations.
Shortly after its release, many people shared videos created by Gen-3 Alpha on social media, attracting hundreds of comments. Most praised the new tool as “realistic” and “unbelievable,” with some even expressing concern that videographers and video content creators “might lose their jobs sooner than expected.” They also rated the new tool “a 9 out of 10” and called it the “biggest competitor” to Sora, developed by OpenAI.
According to Runway, Gen-3 Alpha is built on a new-generation technology platform and is trained simultaneously on image and video data to improve realism. In addition, the company has incorporated AI algorithms to enhance and control motion, “understand” physical movements in the real world, and accurately reproduce them in the output video. “The result is that people can create videos that are close to reality,” a company representative wrote on the blog.
Compared to Gen-2, which takes about a minute to generate a four-second video, Gen-3 Alpha can produce a video at least 10 seconds long in under 30 seconds. Users can upload videos, images, or simply enter a short text prompt to create a video.
While Sora is not yet available to end users, Gen-3 Alpha has been released but comes with a fee of $15 per month or $144 per year.
Runway was founded in 2018 and is a well-known AI startup with 45 employees. The company offers tools that help users quickly edit videos, such as removing backgrounds or adding effects. For example, in the video Everything Everywhere All at Once After winning an Oscar in 2023, visual effects artist Evan Halleck used AI from Runway to create the visual effects. “AI ”It’s better at cutting out subjects than the naked eye,“ he said. ”I can cut a figure out of the frame and place it neatly on a photo in just a few minutes, compared to the half-day it used to take.”.
Runway is valued at $1.5 billion after raising $141 million from investors such as Google and Nvidia. According to The Information On July 3, the company is set to receive an additional $450 million in funding, which will value it at approximately $4 billion.
According to VNEXPRESS
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