BuzzFeed says it will use AI to help create content, stock jumps 150%

[Hydrogen]

New York CNN — BuzzFeed said Thursday that it will work with ChatGPT creator OpenAI to use artificial intelligence to help create content for its audience, marking a milestone in how media companies implement the new technology into their businesses.

Jonah Peretti, the company’s co-founder and chief executive, told employees in a memo that they can expect “AI inspired content” to “move from an R&D stage to part of our core business.”

Peretti elaborated that the technology will be used to create quizzes, help with brainstorming, and assist in personalizing content to its audience. BuzzFeed, for now, will not use artificial intelligence to help write news stories, a spokesperson told CNN.

“To be clear, we see the breakthroughs in AI opening up a new era of creativity that will allow humans to harness creativity in new ways with endless opportunities and applications for good,” Peretti said. “In publishing, AI can benefit both content creators and audiences, inspiring new ideas and inviting audience members to co-create personalized content.”

“When you see this work in action it is pretty amazing,” Peretti added, vowing to “lead the future of AI-powered content.”

The news sent BuzzFeed’s sagging stock skyrocketing more than 150% in trading Thursday to more than $2 a share.

Media industry leaders have increasingly said that artificial intelligence will revolutionize their businesses.

While BuzzFeed is the biggest digital content creator to move to implement OpenAI’s technology into its business, some other outlets have taken similar steps.

CNET recently used an artificial intelligence tool to help write stories. But the process did not go smoothly, with a number of articles ultimately requiring corrections.

In a note published online Wednesday, CNET Editor-In-Chief Connie Guglielmo apologized for the errors and said new processes had been put in place to prevent them in the future.

But, Guglielmo said, the outlet will not shy away from using artificial intelligence moving forward.

“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,” Guglielmo wrote.

The Associated Press also began using artificial intelligence to automate news stories nearly a decade ago.


https://www.cnn.com/2023/01/26/media/buzzfeed-ai-content-creation/index.html

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Does anyone remember a time around 5 years ago when many publicly traded corporations gained massive increases in stock value simply by announcing blockchain related projects?

Kodak announces its own cryptocurrency and watches stock price skyrocket

Jan 9, 2018

There’s a growing list of companies that have added language about blockchain or cryptocurrency into their names and mission statements, and it makes sense. Companies that do so see their stocks rise in value afterward. The latest company to jump on this trend is, unexpectedly, Kodak, which just launched its own KodakCoin, a cryptocurrency for photographers. As soon as the news was announced, Kodak’s stock (KODK) jumped up, and as of this writing, its stock price is $5.02, a 60 percent gain.

https://www.theverge.com/2018/1/9/16869998/kodak-kodakcoin-blockchain-platform-ethereum-ledger-stock-price

It appears similar trends might emerge for businesses who announce AI related projects involving chatGPT and other emerging tech.

This is where the value of insider trading and good sources of information can profit traders more than intelligence or knowledge. Even with investment and trading, who you know can be more valuable than what you know. Having inside information as to which stocks are planning to announce blockchain or AI projects which might send their prices surging upwards is the type of result which usually cannot be accurately predicted through technical chart analysis. The inside information can only be gleaned through having inside sources.

It seems that AI is emerging as a hot commodity in markets. Maybe now is a good time to found that AI tech start up you've been thinking of starting over the years, and never got around to it.

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[Hispo]

There is a clear difference between a company launching its own shitcoin for the sake of attention or for the sake of just doing it from a company actually implementing Artificial intelligence in the creation of their content.

While launching a shitcoin for no reason is an exercise of pumping and dumping shares, an AI could actually generate value to the company, at minimum it could save money by doing the job of several people at the creative department of a business.

Why would Macdonalds have a dozen of artists working for days in the next advertisement campaign, if they could get an AI which could come with a good result in just a couple of hours at most ?

All this sounds very dystopian for those in the industry of creativity and arts.

[rat03gopoh]

Slowly they reduce the role of contributors? Or will be shifted to just being a proofreader at a lower rate of pay due to the fact that Chatgpt is still limited to future talk.

Welcome to the future! Where the industry prefers robot workers, because they never demand promotions, salaries, and holidays. Chatgpt is indeed more relevant to the news industry.

[o48o]

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While launching a shitcoin for no reason is an exercise of pumping and dumping shares, an AI could actually generate value to the company, at minimum it could save money by doing the job of several people at the creative department of a business.
-cut-

I am pretty sure that there are more companies out there who has planned for AI helping content creation for a while now, and i am guessing there will be some investors betting on those firms before their future announcement and waiting for the similar pump. But that effect obviously goes away fast and rapidly becomes a standard and effect goes away.

And yeah, it saves money for the company and most likely increases quality, but i would imagine that writers have been using ai to help them since chatgpt came out. Like journalists, website builders or coders. Who have been saving own money as they save their own time. And it's not like they all will be replaced fully by AI. They still need almost as much people, they will just do more in less time.

[buwaytress]

I remember Long Blockchain or Long Island Blockchain yeah. Similar to all the "e-name" companies I saw pop up by the dozen or even "name.com".

AI does seem a bit old fashioned now, no? .bit never really caught on, .io was only popular in crypto but I expected Web3 to be the next buzzword... or .xyz to denote Web3.

Could be wrong, have been wrong before.

[Captain Corporate]

Stock jumped because if they can actually do it, like actually achieve something like that. Then they do not need most of their workers, not saying something as big as that would be able to work with just 1-2 people, it would still require a dozen people at least even if nobody writes, but between editors, office workers, the executives, the blue collar workers and if they are in housing it, then stuff like legal and accounting, all these will require some people. But compared to what is required to hire writers to build this? If they turn that into AI, then many people will be unemployed, that's quite bad.

[hugeblack]

In short, it is a representation of what the market wants, but I see that the reason for the rises is not always due to cash payments from investors, but rather it may be sometimes an exaggeration that the company carries out by buying its shares, then it needs positive news and therefore it searches for hot topics such as artificial intelligence and then carries out a process Buying them stocks to pump the price and showing it as a trend in the news, and thus more investments.

People will not talk about a stock price that rose by 5%, but they will definitely do so after the company announced the acceptance of Bitcoin or AI.

So you find this pattern happening with random companies with random new/trend topics.

[Fortify]

Does anyone remember a time around 5 years ago when many publicly traded corporations gained massive increases in stock value simply by announcing blockchain related projects?

Kodak announces its own cryptocurrency and watches stock price skyrocket

Jan 9, 2018

There’s a growing list of companies that have added language about blockchain or cryptocurrency into their names and mission statements, and it makes sense. Companies that do so see their stocks rise in value afterward. The latest company to jump on this trend is, unexpectedly, Kodak, which just launched its own KodakCoin, a cryptocurrency for photographers. As soon as the news was announced, Kodak’s stock (KODK) jumped up, and as of this writing, its stock price is $5.02, a 60 percent gain.

https://www.theverge.com/2018/1/9/16869998/kodak-kodakcoin-blockchain-platform-ethereum-ledger-stock-price

It appears similar trends might emerge for businesses who announce AI related projects involving chatGPT and other emerging tech.

This is where the value of insider trading and good sources of information can profit traders more than intelligence or knowledge. Even with investment and trading, who you know can be more valuable than what you know. Having inside information as to which stocks are planning to announce blockchain or AI projects which might send their prices surging upwards is the type of result which usually cannot be accurately predicted through technical chart analysis. The inside information can only be gleaned through having inside sources.

It seems that AI is emerging as a hot commodity in markets. Maybe now is a good time to found that AI tech start up you've been thinking of starting over the years, and never got around to it.

It happens again and again, as gamblers jump in on any company using the buzz word of the moment. Back in the year 2000 any company that was building a website would instantly get a boost. You mentioned blockchain projects and since then NFT's were the must have accessory that people were chasing. It's quite comical to see the latest fads blow up fast and deflate just as quickly, we never seem to learn or there are new fools born every minute. I guess if you're wise then you can take advantage of the situation but you need to be able to read the trends early and get in on the trade at the bottom, then be willing to jump out again before it bombs back - this sort of timing is very difficult to predict.

[Hispo]

-cut-
While launching a shitcoin for no reason is an exercise of pumping and dumping shares, an AI could actually generate value to the company, at minimum it could save money by doing the job of several people at the creative department of a business.
-cut-

And yeah, it saves money for the company and most likely increases quality, but i would imagine that writers have been using ai to help them since chatgpt came out. Like journalists, website builders or coders. Who have been saving own money as they save their own time. And it's not like they all will be replaced fully by AI. They still need almost as much people, they will just do more in less time.

Artificial inteligence can indeed be used as a tool to save money and time for those creative teams, specially within companies that can afford to use such technology in an efficient way.

I am just pesimistic on the future of the workers, because some greedy executives may try to push the AI as far as possible to spend as little as they can in terms of art and redaction.

In the future, we could see advertisements and articles 100% created by AI and published at light speed, in detriment of actual people who need to pay their bills.

Graphic designers and artist in general have little power and money to lobby in order to protect their rights as human beings.

[The Sceptical Chymist]

The news sent BuzzFeed’s sagging stock skyrocketing more than 150% in trading Thursday to more than $2 a share.

Oooooh, 2 bucks a share! 

Seriously, I didn't know Buzzfeed was publicly traded.  Now that I know, I'm going to put them on my watchlist--and before I even look at any of the data I'm going to guess that they don't have any earnings and likely never have.  It doesn't matter if they use AI or the leftest-leaning, sorriest excuses for real-life human beings, their content is crap and their stock will forever be on the dollar menu.  They might save money by replacing the idiots they have on staff, but they've always been a lousy business even in a time when tech and internet stocks were/are booming.

[Nwada001]

AI is the future; it is gradually replacing human labor; it is a new development that we cannot ignore. As such, companies that are exposed to technology are diverting to it; initially, it will cost them more to acquire or develop them, but after that, the cost of maintenance will be less than that of maintaining a human employee, which will cost the company less and save them a lot of money.

The stock price will eventually go up because people like to invest in trending technology and things that will produce results, but new investors should not rush into investing because of promises that are sometimes never fulfilled which  in turn can bring back the stock price to what it was and sometimes below, we should all be careful when taking investment decisions.