Google Develops AI Tool to Write News Articles

Google’s continuous generative AI drive seems to be advancing as the global search engine company explores a product that uses artificial intelligence (AI) to write news articles.

The global search giant is experimenting with a new AI product called Genesis that can write news stories. It is in the early stages of testing the AI tool, which it said could help journalists with options for headlines or different writing styles.

In this article, we will look at Google’s new AI tool, its implications and potential effects on the company’s stock.

Google’s new AI tool creates news stories

Google’s new tool, known internally as Genesis, uses AI technology to take in information such as details of current events and then generate news stories. The company has been testing the tool and presenting it to major news organisations like the Washington Post, the New York Times, and the Wall Street Journal’s owner, News Corp as a “helpmate”, according to the New York Times.

It is unclear exactly how this technology will differ from existing AI systems that are used to write articles, or from its AI chatbot Google Bard. Google thinks that journalists could use the tool as a personal assistant to automate some tasks so they have more time to focus on others. The tech giant considers the tool to be a form of “responsible technology” a way for journalists to use artificial intelligence to enhance their work and productivity, in the same way that they offer help tools in Gmail and in Google Docs.

AI tools will not replace journalists

While Google is eager to promote the benefits of its AI tool, some executives are concerned that it ignores how much effort is required to produce accurate news stories. Google says that the purpose of the technology is not to replace the important role that journalists play in reporting, creating, and fact-checking their articles.

Instead, the tool would act as a “personal assistant for journalists” by automating some tasks. Google sees it as an opportunity to help “steer the publishing industry away from the pitfalls of generative AI”.

Google spokeswoman, Jenn Crider, said that “in partnership with news publishers, especially smaller publishers, we’re in the earliest stages of exploring ideas to potentially provide A.I.-enabled tools to help their journalists with their work.”

She added, “Quite simply, these tools are not intended to, and cannot, replace the essential role journalists have in reporting, creating and fact-checking their articles.” Rather, they could provide options for headlines and other writing styles.

Journalism professor and media commentator, Jeff Jarvis, said Google’s new tool could have potential benefits and drawbacks.

“If this technology can deliver factual information reliably, journalists should use the tool.” On the other hand, Jarvis said that if it is not used properly by journalists and news organisations, it could harm the credibility of the tool as well as the news organisations that use it.

Google’s new AI tool may prompt concerns

 Globally, the use of AI tools in newsrooms is a rising trend and more companies are considering whether to use these tools. The Times, NPR and Insider, have told their employees that they plan to explore how AI could be used responsibly in their newsrooms.

Yet, Google’s new tool is sure to create anxiety among journalists who have been writing their own articles for decades.

News organisations, including The Associated Press, use AI to create stories about corporate earnings. However, these only make up a small proportion of the company’s articles overall, which are written by journalists.

Google’s new tool could raise concerns as AI-generated articles that are not fact-checked or carefully edited have the potential to spread false information.

Earlier this year, the U.S. media website CNET began producing articles using generative AI. This strategy failed as more than 50% of the articles written by AI had to be corrected. Some articles had factual errors, while others had a lot of plagiarised material.

KPMG estimated that AI will replace 43% of tasks

KPMG reported last month that an estimated 43% of the work currently done by authors, writers and translators could be done by AI tools. According to the Organisation for Economic Co-operation and Development, major economies were on the “cusp of an AI revolution” that could lead to job losses in major professions such as law, medicine and finance.

According to Bloomberg, Apple is developing an AI-powered chatbot that engineers refer to as Apple GPT. Although Apple does not yet plan to release the technology to consumers, the chatbot has the potential to compete with ChatGPT.

OpenAI executive, Peter Welinder, denied claims that the GPT-4 model, the most advanced version of ChatGPT, is becoming less smart.

Welinder tweeted that as ChatGPT usage increased, users have started to notice issues they hadn’t seen previously. He stressed that GPT-4 wasn’t dumber but that each new version was smarter than the previous version.

There’s been concern about the use of AI

There’s been a lot of concern that the use of AI in news reporting could spread false information. AI systems and chatbots like Google Bard have shown to be much less capable of checking facts than human writers and are more likely to provide false information.

Some AI systems, such as ChatGPT, have already run into legal issues. In May, a lawyer from New York faced a court hearing after his company used ChatGPT to carry out legal research. The lawyer presented the court with false legal cases. The lawyer who used the tool said he was unaware that ChatGPT content could be false.

A Georgia radio host also sued ChatGPT for defamation last month, after it provided an incorrect summary of a federal court case that falsely claimed he had defrauded his employer and embezzled funds.

Google has been moving quickly to catch up

In order to catch up with OpenAI, Google has been moving quickly to use AI technology. Google’s generative AI tech, Bard, was caught sharing misinformation in its first public demo.

No doubt, Google will try to prevent similar issues in Genesis as factual inaccuracies would be a problem in an artificial intelligence system developed for journalists.

Impact on stock performance

As Google’s Genesis AI tool is tested and gains attention from media organisations, investors may react based on their perceptions of its potential impact. Positive market sentiment could drive stock prices higher if investors consider that Genesis is capable of increasing efficiency and streamlining operations. On the other hand, concerns about AI-generated content spreading false information or replacing human journalists may decrease investor confidence, so investors will be more cautious.

Final thoughts

Another significant step for Google is it tests a new tool that uses AI to write news stories. Though this technology provides opportunities to improve the efficiency and productivity of journalists, there are also concerns about the possible spread of false information. To ensure that AI is used responsibly in the news industry, a balance between human journalistic integrity and AI assistance is essential. As technology advances, it’s crucial for media organisations to adopt AI carefully while considering the implications of its integration.

Disclaimer:

This information is not considered investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced or hyperlinked, in this communication.