Microsoft in Deal With Semafor to Create News Stories With Aid of AI Chatbot
Freeman writes:
Microsoft is working with media startup Semafor to use its artificial intelligence chatbot to help develop news stories-part of a journalistic outreach that comes as the tech giant faces a multibillion-dollar lawsuit from the New York Times.
As part of the agreement, Microsoft is paying an undisclosed sum of money to Semafor to sponsor a breaking news feed called "Signals." The companies would not share financial details, but the amount of money is "substantial" to Semafor's business, said a person familiar with the matter.
[...] The partnerships come as media companies have become increasingly concerned over generative AI and its potential threat to their businesses. News publishers are grappling with how to use AI to improve their work and stay ahead of technology, while also fearing that they could lose traffic, and therefore revenue, to AI chatbots-which can churn out humanlike text and information in seconds.
The New York Times in December filed a lawsuit against Microsoft and OpenAI, alleging the tech companies have taken a "free ride" on millions of its articles to build their artificial intelligence chatbots, and seeking billions of dollars in damages.
[...] Semafor, which is free to read, is funded by wealthy individuals, including 3G capital founder Jorge Paulo Lemann and KKR co-founder Henry Kravis. The company made more than $10 million in revenue in 2023 and has more than 500,000 subscriptions to its free newsletters. Justin Smith said Semafor was "very close to a profit" in the fourth quarter of 2023.
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