ChapGPT is going to transform many sectors including the media industry; Buzzfeed has a playbook.
BuzzFeed is joining a burgeoning group of tech companies and publishers in embracing artificial intelligence. The media company is relying on ChatGPT creator OpenAI to write copy, enhance quizzes, personalize content and play a role in editorial output, according to The Wall Street Journal. A company representative also confirmed the news to Reuters and The Verge. In an internal memo viewed by WSJ, CEO Jonah Peretti suggested that the technology would be used initially to augment BuzzFeed’s writer-generated content. But in the future, it could “create, personalize, and animate the content itself.”
The company stock soared 200% after it announced that it would partner with Facebook parent company (Meta) and use ChatGPT and other AI systems created by OpenAI, to create and personalize contents: “BuzzFeed shares jumped this week, soaring as much as 200% on Thursday following the news and reports of a deal with Meta Platforms.” That has cumulatively toped 325% increase in days.
Yet, not everyone thinks it will work: some “people are divided on the use of AI, after digital technology publisher CNET recently received flak for using AI to create explainers with factual errors.”
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Shares of BuzzFeed Inc (BZFD.O) jumped on Thursday on reports of a deal with Meta Platforms Inc (META.O) and plans to use artificial intelligence to personalize and enhance the digital media firm’s online quizzes and content.
The stock was 19% higher in extended trading, after more than doubling in value earlier in the day as a Wall Street Journal report said it would use ChatGPT creator OpenAI for its content.
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“In 2023, you’ll see AI inspired content move from an R&D stage to part of our core business, enhancing the quiz experience, informing our brainstorming, and personalizing our content for our audience,” BuzzFeed Chief Executive Jonah Peretti said in memo to employees reviewed by Reuters.
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