BuzzFeed (BZFD) will use AI to enhance content

The Wall Street Journal reports BuzzFeed Inc. (BZFD) announced in a memo sent to staff on Thursday that the internet media company will rely on ChatGPT creator OpenAI to enhance its quizzes and personalize some content for its audiences.

The memo, sent by CEO Jonah Peretti, says that the company intends for AI to play a larger role in the BuzzFeed’s editorial and business operations this year.

Mr. Peretti expects AI to assist the creative process and enhance the company’s content, while humans play the role of providing ideas, “cultural currency,” and “inspired prompts,” he wrote in his memo. In 15 years, he wrote, he expects AI and data to help “create, personalize, and animate the content itself,” rather than just curate existing content.

BuzzFeed’s move comes as ChatGPT, new chatbot technology from research lab OpenAI, generates buzz among consumers and businesses alike. Some publishers have said they are starting to discuss using AI technology, while others are already experimenting with it.

Microsoft Corp. (NASDAQ: MSFT), which has invested billions of dollars in OpenAI, plans to incorporate artificial-intelligence tools like ChatGPT into all of its products, Chief Executive Satya Nadella said last week.

It was also announced this week that Facebook parent company, Meta Platforms (NASDAQ: META) will be paying BuzzFeed close to $10 million dollars as part of an effort to bring more creators to their platforms.

Shares of BZFD are up 167.22% near end of day trading on Thursday.

META and MSFT are also up 3.41% and 1.70% respectively.

By Michael Elkins | [email protected]

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