MIT Technology Review: “Runway, the generative AI startup that co-created last year’s breakout text-to-image model Stable Diffusion, has released an AI model that can transform existing videos into new ones by applying any style specified by a text prompt or reference image. In a demo reel posted on its website, Runway shows how its software, called Gen-1, can turn clips of people on a street into claymation puppets, or books stacked on a table into a cityscape at night. Runway hopes that Gen-1 will do for video what Stable Diffusion did for images. “We’ve seen a big explosion in image-generation models,” says Runway CEO and cofounder Cristóbal Valenzuela. “I truly believe that 2023 is going to be the year of video.”..