DAACI Celebrates the Acquisition of Two Technology Companies with Event at Abbey Road Studios24 May 2023 - Press release
The acquisitions of MXX and WiSL herald the ultimate creative AI ecosystem
Music composition system DAACI announced the acquisitions of music technology companies MXX and WiSL yesterday, with an industry event at the legendary Abbey Road Studios in London. The acquisitions are the latest step in DAACI’s journey to develop the ultimate creative AI ecosystem, unparalleled in its capabilities and committed to ethics in music, AI, and the creative industries at large.
The acquisitions position DAACI at the forefront of creative and ethical AI technology – focused on driving a tangible and mutually beneficial partnership between the two. DAACI is also now an organisation with a combined 60 granted patents, a further 20 patents filed, 65 team members, and a current annual revenue of £4.88million.
A select group of industry stakeholders attended Abbey Road Studios for the event in Studio Three, the room where legends including The Beatles, Pink Floyd, Fela Kuti, Amy Winehouse and Stormzy have recorded. The day included demonstrations and an audience with founder and inventor Dr. Joe Lyske, whose life’s work has gone into the patents and method behind this evolution. The event also punctuated the successful completion of DAACI’s incubation with Abbey Road Red, the studios’ music tech incubation programme.
DAACI’s mission is to empower composers, music makers and creatives to unlock their creativity. A key part of this is DAACI’s effort to uphold ethics at the core of its expanding creative AI ecosystem by ensuring that the tools it builds respect copyright, trademark, rights of publicity (where they exist) and Name/Image/Likeness/Voice, put artists at the centre of the creative process, and provide transparency around the data inputs used during the creative process.
With the acquisition of these two music technology firms – MXX and WiSL – DAACI takes another leap forward in powering the content of tomorrow with dynamic music AI that creates an infinite musical palette, and empowers artists and composers to fulfil any brief and tailor each composition to fit specific experiences or occasions in gaming, digital worlds, XR, or VR experiences.
Abbey Road Red has an artist and rights-first philosophy which traverses its incubation guidance. The team advises participants exploring cutting-edge content usage that it is critically important to respect copyright and intellectual property rights and obtain all necessary authorisations and licenses from rightsholders.
Rachel Lyske, CEO of DAACI, said, “This is a milestone moment for DAACI. I’m delighted to welcome MXX and WiSL to the team. We’re forging ahead in collaboration, creating an ecosystem that integrates three decades of experience and research and bridges the gap between static and responsive music creation
“The ultimate goal is to channel our incredibly powerful ecosystem of technology to create new paths for talented individuals to express themselves. Whether you’re an experienced professional, a budding creative or anything in between, you can benefit from the processes and creative options generated by our system. I’d like to thank Abbey Road Red, the DAACI, MXX and WiSL teams and everyone involved for their incredible hard work and commitment. I’m excited for the possibilities these acquisitions bring.
Julian Goodkind, CEO of WiSL said, “We are delighted to be joining DAACI and their team on this exciting journey. They are at the forefront of this evolution and, together, have formed a unique and robust ecosystem which truly amplifies growth for both music makers and content creators.
“It’s vitally important to us that AI technology is adopted and utilised in an ethical way, to ensure that songwriters, artists, rights holders and industry professionals continue to be the driving force at the heart of our industry.
“WiSL remains committed to its objective of creating a marketplace for access and discovery for all music, driven by a suite of AI tools which is supported by the music and content creation industry, so that together we can create a new industry standard.”
Simon White, CEO of the TMC2 Venture Studio, who have invested in all three businesses added, “We have an exceptional track record in ground-breaking adaptive AI technologies for music and media and are thrilled to be continuing our journey as part of the world’s ultimate creative AI ecosystem.”
To find out more: www.daaci.com
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