ChatGPT stock premium – new hype is emerging as cryptocurrencies mature

On January 26, 2023 BuzzFeed stock made ~40% when the news came out that they made a content creation deal with Meta. (In other words, they will write articles specifically to fill Facebook feed.) Then, it made ~70% on the news that it will use ChatGPT from OpenAI to write content. (If you connect these two pieces of information, then you may come to a conclusion that BuzzFeed will probably post texts generated by ChatGPT to Facebook users. This is an indication of ChatGPT’s potential target audience.).

Then BuzzFeed stock almost doubled the next day. Today it’s finally correcting after these jumps.



This market reaction is very familiar to early days of crypto than this or that company was saying that they plan to do something with crypto and the stock price was jumping.

Crypto is not a hype, at least for now. Bitcoin switched from a hype asset to an equity-like asset. 30 days daily change in Bitcoin price has a positive correlation with daily change in NASDAQ since mid-November 2021.



BuzzFeed was first, look for other stocks which will start using ChatGPT and the stock price will go to the moon.

At the same time, ChatGPT has a lot of limitations. You can read this directly at OpenAI CEO’s Twitter. On December 11, 2022 Sam Altman posted:

“ChatGPT is incredibly limited, but good enough at some things to create a misleading impression of greatness.

it's a mistake to be relying on it for anything important right now. it’s a preview of progress; we have lots of work to do on robustness and truthfulness. ”

https://twitter.com/sama/status/1601731295792414720

The rush with which people jumped to using AI to generate news has quickly led to noticeable problems. CNET Money (personal finance section of CNET) announced on January 25 that they had stopped using internal AI Engine to generate financial news after detecting factual errors.

“In November, one of our editorial teams, CNET Money, launched a test using an internally designed AI engine – not ChatGPT – to help editors create a set of basic explainers around financial services topics. We started small and published 77 short stories using the tool, about 1% of the total content published on our site during the same period. Editors generated the outlines for the stories first, then expanded, added to and edited the AI drafts before publishing. After one of the AI-assisted stories was cited, rightly, for factual errors, the CNET Money editorial team did a full audit.

Here's what we've learned.

AI engines, like humans, make mistakes

We identified additional stories that required correction, with a small number requiring substantial correction and several stories with minor issues such as incomplete company names, transposed numbers or language that our senior editors viewed as vague. Trust with our readers is essential. As always when we find errors, we've corrected these stories, with an editors' note explaining what was changed. We've paused and will restart using the AI tool when we feel confident the tool and our editorial processes will prevent both human and AI errors.”

CNET Human editors checked AI articles and decided that there is more work to find and fix mistakes in AI generated texts than writing them from scratch with human editors.

CNET Money took a stance opposite to that of BuzzFeed. This can tell you a lot about journalism standards applied by these two companies. It looks like many are ready to follow BuzzFeed.

CNET

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Tags: ChatGPT, Crypto