AI Update: News Corp's AI Bet, Paul Graham's View Of AI Boom, Fast Tracking Ideas

News Corp's AI Ambitions: A Lucrative New Frontier or a Slippery Slope?

Rupert Murdoch's Media Empire Eyes AI as a Potential Revenue Stream

In the ever-evolving landscape of media, News Corp, led by media mogul Rupert Murdoch, is setting its sights on artificial intelligence (AI) as a potential source of revenue. Despite a 75% drop in profits, News Corp's CEO Robert Thomson sees AI as a game-changer that could not only generate new streams of revenue but also reduce costs. But as the company embraces this brave new world, questions arise about the role of human employees and the potential consequences of relying on AI-generated content.

The Rise of AI in Media:
Digital media has taken center stage at News Corp, accounting for more than 50% of its full-year revenues. This shift marks a "profound transformation" in the company's business over the past decade, according to Thomson. However, critics argue that while the digital side of the company has exploded, the "old media" side has declined. Nevertheless, News Corp is not alone in its AI endeavors, as several media companies have begun experimenting with AI-generated content.

AI's Revenue Potential:
Thomson believes that AI presents a "remarkable opportunity" for News Corp to create new streams of revenue while reducing costs. The company is actively negotiating with generative AI companies to seek payment for the use of its content and data in training AI. This move highlights the potential for media organizations to monetize their assets in the AI era.

The Uncertain Future of Human Employees:
As AI gains traction in the media industry, the role of human employees becomes increasingly uncertain. News Corp's division in Australia, for example, already uses generative AI to produce 3,000 local news items per week. With AI's ability to generate content at such a massive scale, the need for human journalists and writers may diminish, raising concerns about job security and the quality of AI-generated content.

The Cautious Optimism:
While AI offers exciting possibilities for revenue generation and cost reduction, it also raises important ethical and societal questions. The reliance on AI-generated content could lead to a homogenization of news and a loss of human perspective and creativity. Media organizations must strike a delicate balance between harnessing the power of AI and preserving the value of human journalism.

News Corp's foray into AI represents a significant shift in the media landscape. As the company seeks to capitalize on the revenue potential of AI, it must navigate the challenges and uncertainties that come with relying on AI-generated content. The future of media lies at the intersection of human expertise and AI capabilities, and finding the right balance will be crucial for the industry's long-term success.

Paul Graham Calls A.I. 'The Exact Opposite of a Solution in Search of a Problem

Renowned venture capitalist sheds light on the true potential of artificial intelligence

In a recent tweet, Paul Graham, the co-founder of Y Combinator, made a bold statement about artificial intelligence (A.I.). According to Graham, A.I. is not a solution in search of a problem, but rather "the solution to far more problems than its developers even knew existed." This perspective challenges the conventional wisdom that technology should be developed to address specific issues. Instead, Graham suggests that A.I. has the potential to revolutionize a wide range of industries by solving problems that were previously unsolvable.

The Unorthodox Approach of OpenAI:
Graham's viewpoint aligns with the unorthodox approach taken by OpenAI, the A.I. venture cofounded by Elon Musk and others. OpenAI's leaders, including CTO Greg Brockman, admitted to breaking Silicon Valley rules by not having a specific problem to solve when they started the company. Instead, they focused on developing A.I. technology and later discovered its potential applications across various fields. This approach has proven successful, with OpenAI now valued at nearly $30 billion.

A Language Business:
Brockman believes that every company, individual, and business is, in essence, a language business. By adding value to existing language workflows, A.I. can be adopted on a broad scale. This perspective highlights the transformative power of language-based A.I. technologies like OpenAI's GPT-3 and GPT-4.

A Missing Piece in Important Puzzles:
Graham's observation about the current Y Combinator batch further supports the idea that A.I. is the missing piece in many important, almost-completed puzzles. He noted that domain experts in various fields have found ways to use A.I. to solve longstanding problems. While specific examples were not provided, Graham mentioned meeting two startups using A.I. to address supply chain and procurement challenges.

The A.I. Gold Rush:
The launch of OpenAI's ChatGPT has ignited a gold rush in the A.I. startup ecosystem. Graham argues that this surge in A.I. startups is not just opportunistic hype but a response to the sudden solvability of numerous previously intractable problems. The A.I. gold rush is a testament to the transformative potential of A.I. technology.

Paul Graham's perspective on A.I. challenges the notion that technology should be developed to address specific problems. Instead, he believes that A.I. has the potential to solve a wide range of problems that were previously unsolvable. This perspective aligns with the unorthodox approach taken by OpenAI and the current surge of A.I. startups. As A.I. continues to evolve, it will be fascinating to see how it addresses long-standing challenges and reshapes industries across the board.

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