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Visual Effects Veteran Ed Ulbrich Joins AI Firm Moonvalley to Expand Hollywood Partnerships

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Ed Ulbrich, a seasoned visual effects expert known for his work on blockbuster films like Titanic, The Curious Case of Benjamin Button, and Top Gun: Maverick, has joined AI research company Moonvalley as head of strategic growth and partnerships.

Ulbrich’s role involves strengthening Moonvalley’s ties within Hollywood and collaborating with its studio division, Asteria Film, to promote the adoption of Moonvalley’s generative AI technology, Marey. He draws parallels between the current AI surge and the earlier CGI revolution, which despite initial fears, ultimately created hundreds of thousands of new jobs in the industry.

Moonvalley emphasizes the ethical use of AI by training its models only on licensed content, addressing recent controversies around unauthorized use of film and TV libraries that have led to lawsuits against other AI firms like Midjourney. Ulbrich expressed that the company’s respect for creators and clean data use was a key factor in his decision to join.

With over 30 years in visual effects and credits in more than 50 films and 500 commercials, Ulbrich has also pioneered digital human performances, such as the holographic Tupac Shakur at Coachella in 2012. Before Moonvalley, he was chief content officer and production president at Metaphysic, an AI company specializing in digital actor aging effects, acquired by DNEG Group in February. He has also held leadership positions at Deluxe and Digital Domain, serving as CEO at the latter.

Amazon CEO Andy Jassy Signals Workforce Reduction as AI Automates Routine Jobs

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Amazon is preparing to reduce its total corporate workforce over the next few years due to the rapid adoption of generative AI and automation, CEO Andy Jassy said in an internal note on Tuesday. The company expects that AI-driven efficiencies will reshape job roles, decreasing demand for some routine tasks while increasing demand for others.

Amazon employed more than 1.5 million full-time and part-time workers by the end of 2024, alongside temporary and contract staff. Jassy highlighted the company’s ongoing use of AI to optimize inventory management, improve forecasting, upgrade customer service chatbots, and enhance product detail pages.

“As we roll out more Generative AI and agents, it should change the way our work is done. We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs,” Jassy said.

Industry analysts note that this trend reflects a broader shift across the tech sector. Gil Luria of D.A. Davidson commented that AI’s rapid productivity gains are leading to slower hiring, particularly in software development roles.

Other major tech firms like Microsoft and Google have also emphasized AI’s role in boosting productivity while concurrently reducing headcount through layoffs.

While AI is expected to reshape the workforce rather than cause mass unemployment, many roles will evolve significantly in the coming years as automation accelerates.

Adobe Shares Drop 7% as Investors Question Timeline for AI Revenue Gains

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Adobe’s shares fell 7% in early trading on Friday amid investor concerns that the integration of AI into its software products may take longer than expected to generate significant financial returns. This skepticism overshadowed the company’s raised full-year revenue forecast.

Senior equity analyst Angelo Zino from CFRA Research noted growing worries about competitive pressures and a longer timeline to meaningful AI monetization. Adobe, known for creative software like Photoshop and Premiere Pro, announced in April plans to incorporate AI models from OpenAI and Google into its generative AI tool, Firefly.

Firefly enables users to create and edit images and videos for commercial use using simple text prompts, without copyright complications. However, RBC analysts expressed caution, suggesting that although demand remains positive, it will take more time for Adobe’s AI initiatives to prove their value and alleviate competitive concerns.

Adobe now projects 2025 revenue between $23.50 billion and $23.60 billion, up from prior guidance of $23.30 billion to $23.55 billion. Despite this, at least five brokerages lowered their price targets after Adobe’s second-quarter results.

Year-to-date, Adobe’s stock has declined around 13%, and its 12-month forward price-to-earnings ratio is 18.88, notably lower than competitor Autodesk’s 29.16.