OpenAI technology to drive BuzzFeed’s content personalization and quiz generation, as the company aims to overcome financial challenges.
January 26, 2023 – Buzzfeed, an online media company, plans to use artificial intelligence from OpenAI to help create content.
The company plans to use the technology to move beyond curation and help create personality quizzes that ask users questions and generate text write-ups based on their responses. The company sees AI as a new era of creativity that will allow humans to harness creativity in new ways with endless opportunities and applications for good.
The AI-created content will move from an R&D stage to part of the company’s core business this year. It will be used to build quizzes, help staffers brainstorm and personalize content for BuzzFeed’s audience.
The company hopes that the technology will energize its business as it has struggled to boost growth in the past with its stock down nearly 40% over the last year.
OpenAI’s technology has already been tested by other companies and is expected to take over some tasks and improve the quality of other jobs by allowing skilled professionals to focus on more important tasks that require human judgement.
BuzzFeed hopes that using AI technology from OpenAI will help boost their business. The company has been struggling financially, with their stock value decreasing by almost 40% in the last year despite a large gain on Thursday.
Recently, BuzzFeed reported a net loss of $27 million and $104 million in revenue for their latest quarter, although sales did increase by 15% compared to the previous year.
Despite these financial struggles, BuzzFeed’s stock value increased by over 150% to $2.39 during afternoon trading.