AI firm 'Runway' releases app that offers users video editing

Web Desk 09:41 PM | 23 May, 2023
AI firm 'Runway' releases app that offers users video editing
Source: RunwayAI

Runway, an AI firm that collaborated on the creation of Stable Diffusion, an AI picture generator, released its first mobile app on Monday to give consumers access to Gen-1, its video-to-video generative AI model.

Currently, iOS devices are the only ones that can use the software.

What does runway AI do?

Users will be able to record videos from their phones and create AI videos with the new software in a matter of minutes. Any movie already in their library can be changed by using text prompts, pictures, or style presets.

Users can choose from the presets provided by Runway, such as "Cloudscape," or they can alter their videos to make it appear to be a claymation, charcoal sketch, watercolour painting, paper origami or any type of art. They can also enter text or upload a picture into the text box.

The app will produce four previews for users to choose from. It will take a few minutes to create the finished item once they have decided which one they prefer.

Naturally, like any AI generator, the outputs can appear warped or bizarre. The idea of AI video makers could come off as goofy or even gimmicky. However, as technology advances and gets better over time, users may find value in it. Content producers, for instance, can spruce up their social media posts.

What does RunwayAi cost?

Two paid plans are available for Runway's new mobile app: Standard ($143.99/year) and Pro ($344.91/year). You receive 625 credits each month under the basic plan in addition to other premium services like 1080p video, limitless projects and others. The Pro package includes all 30+ AI tools from Runway and 2,250 credits per month.

When can we access Runway Gen-2?

Runway brought out its Gen-2 model one month after Gen-1, which debuted in February, and went on sale. Gen-2, a text-to-video generator, is arguably an improvement above text-to-image models Stable Diffusion and DALL-E because it allows users to create videos from start.

According to Valenzuela, Runway has started to gradually offer out access to its closed beta for Gen-2.

Gen-2 will soon be available with Runway's other AI capabilities, such as its image-to-image generator, and will replace the Gen-1 model that the app now supports.

Web Desk
Web Desk

Daily Pakistan Global Web Desk


USD to PKR: Pakistani rupee remains stable against dollar as IMF talks underway

ISLAMABAD – Pakistani rupee remained stable against the US dollar as the market is looking for direction amid Pakistan’s ongoing negotiations with the International Monetary Fund (IMF).

Amid the economic uncertainty, the local currency remained unchanged against the greenback, moving up 0.01 percent during the opening hours of trading. Before noon, PKR was hovering at 285.40 in the interbank.

In contrast to the inter-bank, the dollar continued its upward trajectory in the open market and is reportedly available at Rs315, as the gap between the official rate and open market rate is Rs30 per dollar.

As the money market is waiting for a positive development from the economic front, International Monetary Fund (IMF) Mission Chief to Pakistan said they continued engagement with Islamabad focusing on the restoration of foreign exchange proper market functioning, with special on the upcoming budget.

Today's gold rates in Pakistan – May 30 2023

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 232,700 on Tuesday.The price of 10 grams of 24k gold was recorded at Rs199,510.   

Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,880.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 232,700 PKR 2,500
Karachi PKR 232,700 PKR 2,500
Islamabad PKR 232,700 PKR 2,500
Peshawar PKR 232,700 PKR 2,500
Quetta PKR 232,700 PKR 2,500
Sialkot PKR 232,700 PKR 2,500
Attock PKR 232,700 PKR 2,500
Gujranwala PKR 232,700 PKR 2,500
Jehlum PKR 232,700 PKR 2,500
Multan PKR 232,700 PKR 2,500
Bahawalpur PKR 232,700 PKR 2,500
Gujrat PKR 232,700 PKR 2,500
Nawabshah PKR 232,700 PKR 2,500
Chakwal PKR 232,700 PKR 2,500
Hyderabad PKR 232,700 PKR 2,500
Nowshehra PKR 232,700 PKR 2,500
Sargodha PKR 232,700 PKR 2,500
Faisalabad PKR 232,700 PKR 2,500
Mirpur PKR 232,700 PKR 2,500


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