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Financial Times (FT) of the UK has signed an agreement with OpenAI, the maker of the well-known artificial intelligence (AI) chatbot ChatGPT. This agreement will licence its content and create AI based solutions. Under this partnership, financial times will license its material to OpenAI to develop generative AI technology, which would help the creation of writing, graphics, and code that are indistinguishable from human work.
The strategic part of this agreement seems to revolve around the Financial Times increasing its knowledge of generative AI, particularly it will use AI as a tool for content discovery, and what's being framed as a partnership to create “new AI products and features for FT readers” implying that the news outlet is dedicated to use AI technology more broadly which will benefit end consumers in the long run.
Brad Lightcap, the COO of OpenAI said that this partnership with Financial Times will help find creative ways of AI to help new organizations or journalists and also improve ChatGPT experience with real-time, it would also improve world-class journalism for millions of people all around the world.
As a result of the collaboration, ChatGPT users will see relevant searches accompanied by a selection of attributed summaries, quotes, and rich links to FT journalism. This agreement will be beneficial for Financial Times as it recognizes the value of their professional journalism and it will also give them early insight on how the content will be surfaced by AI. It will not only benefit Financial Times but also the entire industry as a whole.
The ChatGPT chatbot is powered by large language models (LLMs), like OpenAI's GPT, which is known for its ability to "hallucinate" or invent information. The complete opposite of this is found in journalism, where reporters try to ensure that the data they present is as accurate as possible. Therefore, it should come as no surprise that journalism has been the focus of OpenAI's initial efforts to licence material for model training. Perhaps this will help the AI giant to address the "hallucination" issue.
The New York Times filed a lawsuit against OpenAI in December of last year, claiming that the AI giant had trained models without a licence using its copyrighted content. Although OpenAI contests this, paying news publishers for the use of their copyrighted material can reduce the possibility of future litigation from these publishers, whose material was probably taken from the internet or in some other means to support the creation of LLMs.
The Financial Times is widely known for its high quality of journalism. Therefore, it will be interesting to watch how it incorporates generative AI into its newsroom procedures and products going forward.
Thank you.
Regards,
Deep Sheth,
Kautilya, IBS Mumbai.
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