Artificial Intelligence: BuzzFeed To Collaborate With OpenAI To Create Content
The news led to a massive spike in the BuzzFeed stock on Thursday.
BuzzFeed (NASDAQ: BZFD) announced it will collaborate with OpenAI, the creator of ChatGPT, to utilize artificial intelligence in creating content for its audience. This marks a significant step in how media companies integrate new technology into their operations.
BuzzFeed CEO Jonah Peretti stated in a memo to employees that they can expect “AI inspired content” to become a core part of the business. The technology will be utilized for creating quizzes, brainstorming and personalizing content for the audience. . (CNN)
However, BuzzFeed will not use AI to write news stories, according to a spokesperson.
Other media outlets have also begun implementing AI technology, such as CNET, which recently used an AI tool to write stories, but faced errors which required corrections.
CNET Editor-In-Chief Connie Guglielmo apologized for the errors and said safeguards had now been built into the system to avoid such lapses. However, he said the media outlet would stick to the AI path.
“The process may not always be easy or pretty, but we’re going to continue embracing it – and any new tech that we believe makes life better,” he said.
Notably, the Associated Press began using AI to automate news stories nearly a decade ago.
Meanwhile, Facebook’s parent company, Meta Platforms Inc. (NASDAQ: META), is paying millions of dollars to BuzzFeed Inc. as part of a partnership aimed at bringing more creators to Facebook’s platforms.
This move aligns with both companies’ efforts to tap into the creator economy, in which individuals build large social media audiences by posting videos and other content, and often make money through advertising or brand sponsorships.
This partnership continues a long-standing relationship between the two companies, as BuzzFeed built its business on content that went viral on Facebook, and Facebook has often turned to the publisher for insight on internet culture trends.
The news of its collaboration with ChatGPT galvanized BuzzFeed’s stock on Thursday. It gained nearly 120% to close at $2.09.
Related Story: Microsoft Extends Partnership, Invests $10B In ChatGPT
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