Posted January 26, 2023
By Ray Blanco
AI Shoulders its Way Into Digital Media
Since its release, OpenAI’s ChatGPT has been a massively popular hit.
Across the internet, people have used the natural language processing service to do everything from writing essays, writing code, conducting research, and much more.
And, almost as an inevitability, ChatGPT has begun to work itself into the toolbelts of media and publishing professionals.
To be honest, this comes as no real surprise…
An AI service that is designed to replicate human conversation and written language? It only makes sense that it would be useful for publishers.
In fact, I even used it in the past for a Technology Profits Daily issue to demonstrate its capabilities.
As it turns out, more media companies will be using ChatGPT for day-to-day processes.
In this case, specifically, I’d like to bring up Buzzfeed Inc. (NASDAQ: BZFD).
If you’ve ever been in email chains with relatives or friends, you’ve likely received a Buzzfeed link or quiz in the past.
Buzzfeed is a news and entertainment company that focuses on digital media and tracking viral content.
One of Buzzfeed’s most popular content styles is its quizzes, which prompt you to answer a handful of personality questions and then spit out something like what type of tea you are, for example.
And now, the company has said it would rely on ChatGPT to enhance its quizzes and develop certain personalized content for its audiences.
Investors are hot on this news, too…
After the announcement, shares of BZFD shot up over 150% at one point in the day.
"To fulfill the promise of our mission, we need to build a stronger business foundation by executing a forward-looking strategy," BuzzFeed CEO Jonah Peretti wrote to employees regarding the company's embrace of AI technology.
However, some of this boost could be for another reason too…
Coupled with the news that Buzzfeed will be integrating AI into its business, the company also announced that it will be slashing around 12% of its workforce in Q1 of 2023.
There’s a joke somewhere in there about AI taking our jobs… albeit, not a very funny one for the select Buzzfeed staff getting the boot.
Either way, with Buzzfeed utilizing ChatGPT for some of its day-to-day and additionally dropping 12% of its staff, the company is cutting down on costs while potentially taking no hit to productivity.
That’s a pretty attractive combination for most businesses. We’ll have to see how this move pans out for Buzzfeed, but I’d be willing to bet that other companies may follow suit.
Your Latest AI-Generated Content
As I just mentioned, we will likely start to see handfuls of companies at a time adopt AI services into their businesses, especially digital media companies.
Even outside of generating written content, there are a variety of ways media companies could integrate services like ChatGPT into their day-to-day processes.
For example, ChatGPT can be used not only to generate written content, but to help brainstorm ideas for content such as news article topics, blog post ideas, and social media updates.
This can save time for journalists and editors, and also allow for a more efficient content creation process, another step forward for the labor automation movement.
AI systems can be used to personalize user experiences by generating personalized content recommendations and responses to user inquiries.
For example, a news outlet could use ChatGPT to respond to user queries about specific topics with relevant articles.
This adds an extra layer of customer service that would enhance a user's experience without adding extra work for the customer service team.
As a third-party use, AI could even be trained on a large dataset of true and false statements, allowing it to quickly and accurately fact-check written content.
This can help digital media outlets ensure the accuracy and credibility of their content.
All in all, AI continues to show a ton of promise right now.
By integrating AI into their day-to-day processes, digital media outlets can improve efficiency, personalization, and accuracy.
However, it's important to note that AI models across the board have varying levels of performance right now depending on the quality and quantity of data they are trained on.
So, a good understanding of the model's capabilities and limitations is imperative before its implementation.
But as the technology improves more and more every day, we’ll likely see more integration as well.