It’s been a huge day for BuzzFeed, Inc. On Monday, stock for the digital-media company skyrocketed on news that the company plans to adopt and implement machine learning technology from OpenAI, a technology company focused on artificial intelligence. In just one day, shares were up 27%, marking the single-biggest jump in BuzzFeed’s stock since it started trading in August.
The business-minded buzz around BuzzFeed’s decision is that the company could become a key player in the artificial intelligence industry. By leveraging the technology OpenAI has to offer, BuzzFeed could gain an invaluable edge in content creation. Specifically, OpenAI’s algorithms will help create content that is both original and tailored to consumer demand more quickly and accurately than ever before.
The partnership presents an interesting opportunity for BuzzFeed to do more with less, while still satisfying consumer demand. By utilizing artificial intelligence to generate content, the digital-media company will be able to save time, effort, and money while still producing original and entertaining content.
Some skeptics may worry that the quality of content that OpenAI’s algorithms produce will be lacking, but the power and accuracy of machine learning technology has been continuously improving in recent years. With access to OpenAI’s technology, BuzzFeed is paving the way for machine learning advancements and the quality of content produced by AI algorithms could match or even surpass content created by humans in the near future.
At the end of the day, BuzzFeed’s decision to partner with OpenAI was a smart move, as was evident in the company’s increased shares. We anxiously await what the future holds in store for BuzzFeed’s AI-backed content creation.