Get ready for the biggest digital revolution of 2023

By Irene Maria
Representational Photo by Getty Images. Licensed under the Unsplash+ License

A new company that has the potential to disrupt Google’s dominance has emerged, and it is likely that social media will evolve as a result

The internet is about to be transformed by the introduction of ChatGPT, a chatbot developed by OpenAI. Launched in November 2022, ChatGPT is based on the GPT-3.5 family of language models and has been fine-tuned using supervised and reinforcement learning techniques. It is designed to assist users by answering questions and providing information on a wide range of topics. ChatGPT has been trained on a dataset of billions of words from diverse sources, including books, websites, and other texts. This extensive training allows ChatGPT to have a broad range of knowledge and to generate human-like text. Many believe that ChatGPT represents the biggest “digital revolution” since the internet was first introduced, and the potential for further advancements in the coming years, such as the incorporation of real-time data sources and even more data points with the release of GPT-4, is exciting to consider. It is possible that in the next 3-5 years, people will use Google less and less. If this were to happen, it could have significant impacts on various types of websites. Social media sites may still be able to function without search engines, but they may have difficulty growing and monetizing their content. Directory sites, which rely on search engines to help users discover websites, would likely see a significant decrease in traffic and may struggle to monetize their content.

News sites, e-commerce sites, blogs, discussion forums, video sharing sites, educational sites, and government sites may all see a decrease in traffic and monetization if they rely on search engines to promote their content and drive traffic. On the other hand, websites like Amazon may see an increase in traffic and sales. Without search engines, users may have a harder time discovering new websites and resources.

What happens to ethnic media with the onset of ChatGPT

The rise of social media has had a significant impact on the ethnic media landscape in Australia. In the past, ethnic media was a vital source of information for community members and small businesses. However, with the emergence of platforms like Facebook and Google, the landscape has changed dramatically. Many printing businesses that served small niche publications have gone bankrupt in recent years, and the COVID-19 pandemic has further accelerated this trend, with some publications stopping their print runs due to a lack of engagement.

Facebook community groups have become increasingly popular among community groups, but in the coming years, it is likely that ethnic media will further evolve and rely on niche online community groups that offer services to one another. Hive, Circle, Steem are some of them that are gaining importance among community groups. With the growing popularity of blockchain-based social media and AI-based media platforms, it is possible that traditional ethnic media sources will continue to decline in favor of these new technologies. However, nice publications that manage to embrace strong digital community platforms will emerge as winners.

There are several advantages to using a private community platform like Hive and Circle, rather than a public blog or Facebook group. These advantages include:

NFTs and publishing: Non-fungible tokens (NFTs) can be used by publishers to enhance the value of their communities. As community publishers, NFTs can be offered to readers that provide a useful function. As the utility of NFTs grows, they can create real value and a sense of ownership for community members. NFTs can also be a great way to share revenue and other resources with readers.

Improving traction: Private communities can create a sense of belonging and encourage more active participation from members.

Higher quality content: With a smaller, more committed group of members, the content within the community is likely to be of higher quality and more relevant to the group.

Control: As the creator of a private community, you have more control over who can join and what content is shared, allowing for a more curated and controlled environment.

Greater privacy: Blockchain-based media platforms can offer more privacy. Unlike Facebook and Google that use datamining tricks to increase revenue, community publishers can ensure a third party does not use readers data for monetising.

Increased loyalty: Members of a private community may feel a stronger sense of loyalty to the group and its members, leading to increased retention.

Monetization opportunities: Private communities can provide opportunities for monetization through membership fees, subscriptions, and other revenue streams. This can be an alternative to relying on ad revenue from search engines like Google.

Networking and collaboration: Private communities can be a valuable resource for networking and collaboration, allowing members to connect and work together on projects

While ChatGPT presents a number of challenges, niche publishers should embrace emerging trends and implement new strategies as soon as possible in order to adapt. In 2023, ChatGPT is expected to pose a significant threat to companies like Google and Facebook, which will likely prompt editors and publishers to re-evaluate their strategies. It is important for publishers to stay current and be proactive in the face of new technological developments in order to remain competitive.

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