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The company, which specializes in AI tools for video editing, already developed the Stable Diffusion text-to-image model, and announced its first AI video editing model, Gen-1, in February.
While Gen-1 transformed existing footage with AI-generated overlays, Gen-2 focuses on generating videos from scratch.
The demo clips shared by Runway are short and not really photorealistic but still impressive.
AI video generated using Gen-2 with the prompt "a woman wearing a white dress meditating, standing on water, peaceful day, the most beautiful scene"
There is even a short film created by combining GPT-4 and Gen-2:
Runway is limiting access to Gen-2, with users having to sign up for a waitlist via Runway's Discord. A spokesperson for the company said they would be "providing broad access in the coming weeks."
Text-to-video is considered the next frontier for generative AI, promising both new creative opportunities and new threats for misinformation.