Artificial Intelligence will be playing a big role for BuzzFeed in the coming days, as the company announced that the company will use OpenAI to create quizzes and other content creation to offer to its audiences.
The logo of news website BuzzFeed is seen on a computer screen in Washington on March 25, 2014. AFP PHOTO/Nicholas KAMM (Photo credit should read NICHOLAS KAMM/AFP via Getty Images)
NICHOLAS KAMM/AFP via Getty Images
(Photo : NICHOLAS KAMM/AFP via Getty Images) The logo of news website BuzzFeed is seen on a computer screen in Washington on March 25, 2014. AFP PHOTO/Nicholas KAMM
AI-Generated Content
BuzzFeed Inc. will go big in AI-created content as they are currently planning to generate content by using OpenAI. According to a reviewed staff memorandum by Wall Street Journal, AI will now be used for the company's editorial and business operations this year.
The company specifically said that AI will be used for online quizzes that will produce individual results for its audiences. Now that the company's creative process will be assisted by this technology, Chief Executive Officer Jonah Peretti stated this will be part of their core business.
He added, "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 will still rely on people for providing ideas, cultural currency, and inspired prompts, while OpenAI will focus on the creative process and enhancing the produced content. This partnership expects AI to help the company with the creation, personalization, and animating content rather than curating existing content.
Perreti considered entering this new venture as a new era of creativity for the company, as it allows humans to alter creativity in a refreshing way that offers limitless possibilities. Forbes reported that BuzzFeed believes that AI benefits both content creators and audiences.
White editorial and business will use OpenAI, BuzzFeed will remain its reliance on human journalism for its newsroom department.
When they received the memo from the CEO, several concerns were raised by the employees regarding this new technology, including legal issues, workforce reduction, and fact-checking.
However, Perretti clarified that experiments were done in the past with AI-generative images, as they took this problem very seriously. Several illustrators, photographers, and art directors of the company will be affected by this, especially since the produced content is protected by US copyright.
He added that these added tools for the company will be the way for the employees to be more efficient and creative, and not rather seen as a workforce reduction strategy. Reuters reported that the company would be cutting about 12% of its workforce due to the economic downturn.
BuzzFeed's Stocks
After this news flocked to different publications online, BuzzFeed stocks rose by 120%. Bloomberg reported that this brings the company's market value to almost $300 million, with 190 million shares.
The stock also jumped 50% on a separate report when the company revealed that Meta will pay BuzzFeed millions of dollars to bring more content creators to both of its platforms, Facebook and Instagram. This will help the platform to generate content and train creators to grow their online visibility.
