Financial Times Enters Licensing Agreement With OpenAI – What Does It Mean?

The Financial Times (FT) has announced that it has officially opened up a licensing agreement with OpenAI. The partnership will allow OpenAI to use Financial Times content to train its AI models – mainly ChatGPT. In exchange, OpenAI has agreed to share its tech advancements with the FT.

But what does this mean?

Under this deal, ChatGPT will use the FT’s library of content to inform answers to user questions. This means that FT content will be used to make ChatGPT answers more in-depth and accurate, helping users get more up to date information.

Whilst the details of how OpenAI is going to benefit the FT is unclear, it’s believed that the company will help to create new AI-generated products that will improve FT readers’ experience. Though details of this side of the deal remain undisclosed.


Where Does ChatGPT Gets Its Current Content?


ChatGPT gathers its knowledge from a vast library of content on the internet. This includes books, websites, social media posts and news articles up until April 2023.

Through processing this information, ChatGPT is able to analyse and generate text based on the prompt. By training it to analyse words, images and numbers input by users, OpenAI has programmed ChatGPT to generate human-like text based on its analysis of millions of data points.

Whilst it’s generally good at finding and generating information, the content can still include errors, typically estimated to be around 7-8% of the time.

By widening its content library to include thousands of FT articles and resources, ChatGPT can continue to evolve and improve the accuracy of its content.

In fact, as time goes on and more publications enter licencing agreements with the company, the more advanced and accurate its content will be.



What Does This Partnership Mean In Real Terms?


For everyday ChatGPT users, this means more accurate information available. It means that when someone asks ChatGPT about the economy or world news, the model now has more data to pull from, including FT articles.

Ultimately, the more information ChatGPT can generate information from, the better.

For the FT, this could be a great way to expand their reach, allowing them to reach an audience who interacts with news via AI.


How Has ChatGPT Evolved Over Time?


ChatGPT has evolved from a simple conversational tool into a fully functional generative AI model that many businesses and individuals now rely on for their work and everyday life.

With the click of a button, ChatGPT is able to analyse huge amounts of data, generate code, essays, timelines and more. As it becomes more advanced and has more information to learn from, it’s going to become a tool that many businesses and people can’t live without.

Additionally, by incorporating high-quality, reliable journalistic sources like the Financial Times into its output, ChatGPT is evolving into a tool with authority.




This new collaboration between The Financial Times and OpenAI is a step towards better integrating AI and journalism.

As AI technologies continue to evolve, their ability to integrate with more respected news outlets has the opportunity to re-define how consumers interact with news.

Who knows, maybe the future of news reading will be on ChatGPT? Only time will tell…