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One of the most highly-trafficked financial news websites in the world is creating AI-generated stories that bear an uncanny resemblance to stories published just hours earlier by other competitors:
Investing.com, a Tel Aviv-based site owned by Joffre Capital, is a financial news and information hub that provides a mix of markets data and investing tips and trends. But increasingly, the site has been relying on AI to create its stories, which often appear to be thinly-veiled copies of human-written stories written elsewhere.
[...] Pere Monguió, the head of content at FXStreet, told Semafor in an email that he and his team noticed several months ago that Investing was publishing stories similar to their site's articles. FXStreet's 60-person team monitors and quickly analyzes developments in global currencies. By pumping out AI articles, Investing was eroding FXStreet's edge, Monguió said.
"Using AI to rewrite exclusive content from competitors is a threat to journalism and original content creation," he said.
[...] "This isn't truly a new thing," Lawrence Greenberg, senior vice president and chief legal officer at The Motley Fool, said in an email. "We have seen, and acted against, people plagiarizing our content from time to time, and if you're right about what's going on, AI has achieved a level of human intelligence that copies good content and makes it mediocre."
See also: Sports Illustrated Published Articles by Fake, AI-Generated Writers
(Score: 2) by VLM on Wednesday December 13 2023, @05:30PM (3 children)
That's a very wordy description of clickbait, an AI would have a more succinct word choice.
When you combine a world consisting entirely of clickbait with classic Dead Internet Theory, we have bots generating articles to be pretend clicked on by other bots. All funded... for now... by ad money.
When this scam inevitably blows up, it's going to make the dotcom crash look like a minor blip.
I don't know of a good financial vehicle to make a profit off knowing an entire industry sector is fraudulent. You can't get humans to buy more stuff by having bots write articles for bots to click on. Its easy to create a financial model where you track / graph the marginal return on every new $1 of ad spend, and watch it decline, but where's the tipping point where you start shorting ad networks and clickbait farmers? If you wait until the marginal return drops to zero you'll probably wait too long. Wait until it approaches commercial borrowing interest rate, if its not possible to make money buying ads then people won't borrow money to buy them...
(Score: 0) by Anonymous Coward on Wednesday December 13 2023, @06:45PM (1 child)
Or, you know, you could be patient, buy quality stocks in market segments that match your risk-targets (some sectors fluctuate in price much more than others)...and for the most part hold them. Isn't this the Vanguard mutual fund approach?
(Score: 2) by VLM on Thursday December 14 2023, @04:02PM
How would any of that leverage my knowledge of fraud in an industry sector?
I guess, invest outside the fraudulent sector LOL?
(Score: 1) by khallow on Thursday December 14 2023, @12:04AM
Periodically buy small amounts of puts that are well above water and more than a year out in the stocks in question. If you're right, it'll pay out at some point and justify all the puts that didn't make it. Or you could short the stock and post on decision maker sites like SN to persuade the masses to make you rich!