Danish Kapoor
Danish Kapoor

Financial Times signs licensing agreement with OpenAI

The Financial Times (FT) announced a deal with artificial intelligence company OpenAI to license content and develop AI tools. This agreement opens the door to further collaborations, in addition to the OpenAI products that FT is already using. FT states that it is a ChatGPT Enterprise customer and that this partnership will increase opportunities to develop new products.

FT content will be accessible via ChatGPT

According to a press release by the FT, ChatGPT users will be able to see summaries, quotes and links from FT articles. Content submitted in response to any request for information will be presented by the publication with a clear reference to the source. In this way, users will be able to quickly access reliable information as well as verify the source of the content.

Under the agreement, OpenAI will work with FT to develop new AI products. Last month, the FT beta released a generative AI search function powered by Anthropic's Claude large language model. This feature, called 'Ask FT', allows subscribers to search for information among published articles.

Financial Times Group CEO John Ridding emphasizes that the company remains committed to “human journalism” alongside its partnership with OpenAI. Ridding states that it is right for AI platforms to pay for the use of material from publishers, and that it is in the interest of users that these products contain reliable sources.

OpenAI has made deals with several news organizations to license their content to train AI models. Axel Springer; Business Insider signed a similar deal involving Politico and European publications Bild and Welt. The Associated Press is also allowing its data to be used to train OpenAI's models. However, the $1 million to $5 million that OpenAI is offering to license content from publications appears to be significantly lower than what other companies like Apple are offering.

Other news organizations' relationships with OpenAI are different. The New York Times filed a lawsuit against OpenAI and Microsoft in December 2023, alleging copyright infringement. The Intercept, Raw Story and AlterNet also filed a separate lawsuit against OpenAI and Microsoft in February with similar accusations. This situation also raises the legal and ethical dimensions of the use of AI technologies, which could have significant impacts on the future of the industry.

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Danish Kapoor