The generative AI wave may revive Photobucket, an image=hosting site that once had 70 million users, but has dwindled to 2 million,Reuters reported. CEO Ted Leonard is negotiating to license its vast archive of 13 billion photos and videos for AI training, potentially unlocking a new revenue stream amid a burgeoning data market for AI development. Tech giants, facing copyright challenges, are also buying content for AI training, signaling a shift from free internet scraping to paid acquisitions.
A Surge That Keeps on Surging
Generative AI, exemplified by technologies like ChatGPT, is transforming content creation across audio, code, images, text, simulations, and videos. Since ChatGPT's debut in November 2022, the technology has rapidly evolved, showcasing both its potential benefits, such as in medical imaging and weather forecasting, and its risks. A 2022 McKinsey survey indicated AI adoption and investment were surging, with generative AI poised to significantly alter various job functions. In 2024, generative AI continues to lead the hub of tech interest, as the generation these models are capable of is becoming more sophisticated.
Ethics Issues
The rapid growth of generative AI (GenAI) has sparked significant ethical concerns, notably massive copyright infringement and the potential for harm through deepfakes. Lawsuits from artists, writers, and media companies against firms like OpenAI, Midjourney, and Stability are highlighting debates over the use of copyrighted content without permission from original creators. Deepfakes have caused notable incidents, including explicit fabrications of celebrities, a $25 million theft via deepfake, and misleading robocalls, underscoring the technology's potential for misuse. Amidst this, a group of AI and social media companies signed an "AI Elections Accord" to mitigate risks, though it stopped short of banning misleading electoral content.
Despite uncertainties about its full impact, businesses are eagerly integrating these tools, anticipating generative AI could contribute up to $4.4 trillion annually to the global economy. As technology continues to develop, its implications for organizations and the broader economy remain a critical area of exploration.
