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Deal with OpenAI results in skyrocketing Buzzfeed stock prices

Deal with OpenAI results in skyrocketing Buzzfeed stock prices
Russell Kidson

Russell Kidson

The announcement of BuzzFeed’s partnership with ChatGPT led to a skyrocket in the company’s stock price. BuzzFeed is not the only firm that has reaped benefits from its connection to ChatGPT, which was developed by OpenAI. The online media company aims to use OpenAI’s artificial intelligence technology to streamline its content production. This month, companies specializing in AI have experienced a surge in trade activity, and this trend is expected to persist with BuzzFeed’s involvement.

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The next BuzzFeed quiz you do may be generated by AI

BuzzFeed has announced plans to utilize OpenAI’s text synthesis technology, similar to the popular ChatGPT, to generate original quizzes and potentially other content. The announcement caused a massive 200% increase in BuzzFeed’s stock price. In a recent blog post, BuzzFeed also revealed its collaboration with Meta. This development is likely to bring great satisfaction to current BuzzFeed shareholders.

BuzzFeed aims to integrate artificial intelligence into its content creation process to enhance its user experience. The company’s CEO, Jonah Peretti, recently announced that BuzzFeed will be utilizing OpenAI, the makers of the ChatGPT platform, to tailor its popular quizzes and listicles.

‘In 2023, you’ll see AI inspired content move from an R&D stage to part of our core business, enhancing the quiz experience, informing our brainstorming, and personalizing our content for our audience.’

The partnership between BuzzFeed and OpenAI comes at a fortuitous moment as the ChatGPT language model has been receiving significant attention lately. This has prompted Microsoft to increase its investment and Google to respond with its own strategic moves. Google has been on high alert regarding the potential threat of AI for some time, and has issued a ‘Google code red’ warning.

The next BuzzFeed quiz you do may be generated by AI

The ChatGPT platform is powered by the GPT-3 model, which can produce text in various styles based on its statistical understanding of a vast corpus of books and articles. The output, depending on the subject, can be remarkably similar to human writing. The goal of GPT-3 is to predict the most likely words to follow a given user input, known as a ‘prompt.’ 

The significance of carefully crafting these prompts cannot be overstated as it opens up endless possibilities for AI applications. The text-to-text AI techniques, especially their conversational nature, highlight the importance of being mindful of the language used in prompts, much like how you would choose your words when speaking with someone.

Contrary to previous reports, BuzzFeed will not be utilizing the ChatGPT platform, but instead will be developing its own version based on OpenAI’s GPT-3 engine. This is a trend that many other companies have expressed interest in following. While ChatGPT may be the shiny new toy that gets everyone excited about AI, the underpinnings are what matter. We’ll likely see an even greater rise in the use of AI when OpenAI releases a stable version of its GPT-4 platform.

Russell Kidson

Russell Kidson

I hail from the awe-inspiring beauty of South Africa. Born and raised in Pretoria, I've always had a deep interest in local history, particularly conflicts, architecture, and our country's rich past of being a plaything for European aristocracy. 'Tis an attempt at humor. My interest in history has since translated into hours at a time researching everything from the many reasons the Titanic sank (really, it's a wonder she ever left Belfast) to why Minecraft is such a feat of human technological accomplishment. I am an avid video gamer (Sims 4 definitely counts as video gaming, I checked) and particularly enjoy playing the part of a relatively benign overlord in Minecraft. I enjoy the diverse experiences gaming offers the player. Within the space of a few hours, a player can go from having a career as an interior decorator in Sims, to training as an archer under Niruin in Skyrim. I believe video games have so much more to teach humanity about community, kindness, and loyalty, and I enjoy the opportunity to bring concepts of the like into literary pieces.

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