The Financial Times and OpenAI have reached an agreement for the license of The Financial Times’ material for the creation of ChatGPT answers and AI models.
The Financial Times and OpenAI have inked a contract that will license the newspaper’s content for the creation of AI models and enable ChatGPT to respond to user inquiries with summaries linked to the publication. This is the latest in a string of partnerships for the Microsoft-backed firm.
The agreement’s financial parameters were not made public when it was announced on Monday. It comes after OpenAI struck agreements of a similar nature in recent months with the Associated Press, Axel Springer, a global news publisher, Le Monde in France, and Prisa Media in Spain.
The newspaper and OpenAI said in a statement that the most recent agreement will assist the company in improving the ChatGPT chatbot with FT historical content and that the companies will collaborate to create new AI products and features for FT readers.
The firms also state that the summaries produced by ChatGPT from FT articles will have links back to the newspaper.
John Ridding, CEO of FT Group, stated, “We’re eager to investigate the practical outcomes regarding news sources and AI through this partnership.”The GenAI revolution was sparked by ChatGPT, which debuted in late 2022 and can mimic human speech while performing jobs like summarizing lengthy texts, writing poetry, and even coming up with theme party ideas.
Generative AI is already being used by several sites for their content. The New York Times utilized ChatGPT to build a Valentine’s Day message generator last year, and BuzzFeed has announced that it will use AI to power personality tests on its website.
