BuzzFeed harnessed the growing power of social media into a digital media business that was worth more than $1 billion at its peak. But as the tech giants behind social platforms backed down from posting, BuzzFeed’s valuation plummeted.
To get back on its feet, BuzzFeed once again relies on a new technology: artificial intelligence.
Since announcing AI integration a few months ago, the company has conducted a number of experiments and embraced the technology more than most publishers. On Tuesday, BuzzFeed unveiled its most ambitious offering yet, a free chatbot called Botatouille (unrelated to Pixar’s Mouse Chef) that provides recipe recommendations from YummyBuzzFeed’s grocery brand.
Botatouille is based on the technology powering OpenAI’s popular ChatGPT program, customized with Tasty recipes and user data.
Rainy day? Botatouille recommends winter chili or lentil soup. Feeling lonely? Botatouille recommends chocolate chip cookies or a vegetable curry. Botatouille might also recommend shepherd’s pie, which he joked was his mother’s recipe.
“For me, the transition from what is kind of a crumbling wave of social networking to a growing wave of generative AI is an exciting transition,” said Jonah Peretti, the company’s chief executive officer. “And I think there are things we can definitely learn to make sure we get more lasting value from a technological trend.”
Although BuzzFeed is among the first media companies to experiment with artificial intelligence, many others are considering how to adapt. Executives from Bloomberg, Insider and the New York Times are all weighing the potential upside against the risks to their existing businesses.
Potential pitfalls include a traffic loss from search engines, as AI-supported chatbots answer search queries. And some companies using artificial intelligence for content creation have done so already published Faulty Items.
Mr. Peretti switch off BuzzFeed News last month, but going forward, he said, BuzzFeed plans to experiment with AI to improve its news business, now organized under the HuffPost brand.
Mr Peretti said this could include using artificial intelligence to create headlines for search engines or find ways to tell specific stories.
But he said he doesn’t anticipate a future where artificial intelligence will replace HuffPost journalists.
“Even if you were an evil CEO trying to replace all journalists with AI, you would be very unsuccessful,” Mr. Peretti said. “It wouldn’t work on the business side.”
He said he draws several lessons from BuzzFeed’s unequal relationship with social media to its artificial intelligence experiments.
When BuzzFeed turned to social media to grow its audience, profitability wasn’t always a priority. The company grew quickly, but has since experienced tougher times. It’s now worth nearly $90 million — a small fraction of its 2016 peak of $1.7 billion. The closure of BuzzFeed News impacted dozens of jobs.
The company is now focused on building a sustainable business from the start, Mr. Peretti said. BuzzFeed plans to use artificial intelligence to sell subscriptions to its users by giving them personalized services and custom interactions on offerings like Botatouille, he said.
“We’re much more focused on monetization, and much sooner than we were then,” Mr. Peretti said.
Big question for BuzzFeed: Does Botatouille work?
Before I went to a party on Sunday night, I asked the chatbot to recommend a batch cocktail recipe to take home.
“You there! Sounds like you’re ready to party!” Botatouille replied in his usual cheery tone – adding a caution to drink responsibly. “I recommend the ‘Boozy Bubbly Sherbet Punch’.” It’s a fun and fruity one drink that is perfect for a party.”
Botatouille then shared the recipe, a harmonious blend of vodka, champagne and fruit juices from concentrate, topped with a scoop of rainbow sorbet.
Later, I asked Botatouille to propose meals to a laid-off digital media employee. It was difficult for me to give an answer at first. “Oops. Something went wrong,” it said.
Then it had an idea.
“Hmm, it seems like you’re feeling a bit depressed. How about I suggest a meal that will lift your spirits?” said Botatouille. “For a laid-off digital media employee, I suggest trying two different ways of one-pan chicken and vegetable meal prep.”
