Media News

FT CEO: We should insist on payment from AI companies

May 28, 2024

Posted by Chris Roush

John Ridding

Financial Times chief executive John Ridding told other news publishers they “have leverage and should insist on payment” from AI companies, reports Charlotte Tobitt of Press Gazette.

Tobitt reports, “His words for the industry at the WAN-IFRA World News Media Congress in Copenhagen came one month after the Financial Times became the first UK news publisher to announce a licensing deal with OpenAI.

“Ridding said on Tuesday of the deal that the FT had wanted to be an ‘early mover’ but also to understand the potential use cases and impact of AI and to broaden its overall reach.

“Giving a keynote speech, Ridding said: ‘The payment matters, for principle and for revenue of course, but also important is the opportunity to extend our reach and to understand how users will interact with AI.

“‘As with the digital and mobile revolutions, pulling up the drawbridge or trying to hold back the tide is not going to be a strategy for success.'”

Read more here.

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