ElevenLabs Unveils Music V2: A New Era For AI-Driven Music Composition

ElevenLabs introduced Music V2, an updated version of its AI music-generation model designed to support more advanced genre transitions, song structure editing and multilingual audio generation. The release expands the company’s capabilities in AI-generated music production as competition intensifies across the broader generative audio market.

Advanced Genre-Switching Capabilities

According to ElevenLabs, Music V2 can transition between multiple music genres within a single track, including combinations involving opera, heavy metal and rap. Music V2 also supports both vocal and instrumental composition while allowing users to incorporate sound effects and more complex audio arrangements. The updated model replaces the company’s earlier music-generation system, launched approximately 10 months ago.

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Enhanced Composition And Customization

Users can create longer-form compositions by generating separate sections, including intros, verses and choruses. Individual parts of a track can also be regenerated through text prompts without modifying the entire composition. ElevenLabs said the model includes improvements involving multilingual generation, vocal flexibility and more detailed arrangement control.

Driving Innovation In The AI Music Landscape

The launch comes as major technology companies continue expanding their presence in AI-generated music and audio tools. Companies including Google, Stability AI and Suno have also introduced systems capable of producing longer and more complex music tracks. Recent developments across the sector have included AI-generated cover songs, section-based editing tools and music video generation features.

Commercial Licensing And Strategic Partnerships

ElevenLabs said Music V2 was trained using licensed data and is approved for commercial use. The company positioned licensing agreements as an important component of its strategy, as legal disputes surrounding copyright and training data continue affecting parts of the AI music industry. Music V2 is currently available through the company’s ElevenCreative platform, while additional music production tools are expected to be integrated into ElevenMusic and the upcoming ElevenAPI service.

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Keve Welcomes New Cyprus Business Development Organisation

by THEFUTURE.TEAM

July 17, 2026

The Cyprus Chamber of Commerce and Industry (Keve) has welcomed Parliament’s unanimous approval of legislation establishing the Cyprus Business Development Organisation, describing it as a major step toward improving access to finance for small and medium-sized enterprises, startups and self-employed professionals.

Expanding Access To Finance

The legislation creates a new public body aimed at addressing financing gaps by supporting businesses that struggle to secure funding through traditional channels.

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According to Keve, the initiative could strengthen entrepreneurship, boost competitiveness and support Cyprus’ green and digital transition. The chamber has long argued that SMEs rely too heavily on bank financing, limiting investment, expansion and innovation.

Keve Calls For Swift Implementation

Keve said it helped shape the legislation through the consultation process and called for the organisation to become operational as quickly as possible. It also pledged to continue working with the Finance Ministry and the organisation’s management to support implementation.

How The Organisation Will Operate

Approved by Parliament on Tuesday, the legislation establishes Cyprus’ national business development body under the supervision of the Finance Minister, while the Central Bank of Cyprus will oversee anti-money laundering compliance.

The organisation will design financing programmes, provide loans and conduct studies to identify weaknesses in the financing market.

Cyprus will provide €60 million in initial capital. Over time, the body will also be able to raise funding from European and international institutions and benefit from state guarantees linked to approved strategic priorities.

Recovery Plan Milestone

Creation of the organisation is one of the final milestones under Cyprus’ Recovery and Resilience Plan and is required for the country to receive the plan’s ninth and final payment. Appointment of the board of directors remains the last outstanding step.

Before approving the bill, the Finance Ministry revised the draft following consultations with MPs and stakeholders. The changes removed provisions allowing the organisation to establish companies and narrowed the list of eligible beneficiaries by excluding small mid-cap companies.

Lawmakers also strengthened governance rules by introducing stricter board suitability requirements, conflict-of-interest safeguards, enhanced reporting obligations and borrowing limits. A seven-member board appointed by the Cabinet will oversee the organisation, while a transitional board will serve for two years until it becomes fully operational.

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