Financial Times, OpenAI Collaborate for Content Licensing, AI Development

The Financial Times (FT) has entered into an agreement with OpenAI to license its content, and  develop  AI models. This collaboration also grants ChatGPT the capability to respond to queries with summaries sourced from the newspaper, marking the most recent collaboration between media entities and the Microsoft-supported startup.

This agreement follows a series of similar deals executed by OpenAI in recent months, including partnerships with the Associated Press, global news publisher Axel Springer, France’s Le Monde, and Spain-based Prisa Media.

According to a statement from both the newspaper and OpenAI, this latest agreement aims to bolster the ChatGPT chatbot with archived content from the Financial Times.

Additionally, the two entities will collaborate to innovate and develop new AI products and features for FT readers.

Also Read: OpenAI in talks with publishers to license content

According to the companies, the summaries produced by ChatGPT from Financial Times content will also include links back to the newspaper.

“We’re keen to explore the practical outcomes regarding news sources and AI through this partnership,” said FT Group CEO John Ridding.

ChatGPT, the catalyst behind the GenAI surge starting in late 2022, possesses the ability to emulate human conversation and execute various tasks, including summarizing lengthy texts, composing poetry, and even brainstorming ideas for themed parties.

Several platforms have begun incorporating generative AI into their content strategies. For example, BuzzFeed has declared its plans to leverage AI for creating personality quizzes on its platform, while the New York Times utilized ChatGPT to create a Valentine’s Day message generator last year.

Reuters