The stock more than doubled on Thursday, Jan. 26, closing a frenzied 120% gain: US media buzz feedwhich was at its worst, flew off when the Wall Street Journal revealed that the New York-based company had signed a contract with Meta worth almost 10 million dollars (9.2 million euros) to provide content to Facebook and Instagram, and above all that it would use artificial intelligence (AI) to create them.
In a note to staff sent Thursday morning, Chief Executive Jonah Peretti said he wants AI to play a significant role in the company’s publishing and business operations this year. The company, famous for its quizzes, intends to collaborate with OpenAI, the inventor of ChatGPT.
He hopes these tools will help make content better, while humans will provide insights, offering a “cultural currency” And “inspired incentives”according to an internal note cited by the Wall Street Journal. But, fifteen years from now, Peretti expects artificial intelligence to help “create, customize and animate the content itself”.
An old relationship
ChatGPT, OpenAI’s artificial intelligence tool, has ignited the internet since its introduction in November 2022 and won over a million users in just a few days. This revolutionary tool, in which Microsoft will invest $10 billion, has sparked a new debate on the role of AI in business and education. The tool, which writes for the students, managed to pass a master’s degree in business administration (MBA). at Wharton Business School, near Philadelphia, Pennsylvania, with a B grade. He was banned from New York schools.
Always second Wall Street Journal, buzz feed has signed an agreement with Meta to generate content for Facebook and Instagram, and train creators and influencers, to increase their online presence. The relationship between buzz feed and Meta is old, with media often going viral on Facebook. The partnership should help the American giant founded by Mark Zuckerberg to counter TikTok, or even to integrate the Chinese application, if the ban of him in the United States were to intervene, supported by many elected Americans.
Success then falls
buzz feed it was one of the successes of the last decade and had obtained its consecration by winning, in June 2021, a Pulitzer Prize for an investigation into the persecution of Uyghur Muslims by the Chinese Communist Party. Then came the fall, with its IPO in December 2021, through a Special Purpose Acquisition Company (SPAC), which allows entry to Wall Street by skipping the steps.
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