Cryptocurrency News

German newspaper giant to axe old-school editorial staff for AI



7652571a 648f 42de 91e3 59fdc51ad36f

German tabloid company Bild is planning to replace a swath of its editorial staff with artificial intelligence and “automated processes” — the latest example of AI deployment at the cost of human workers.

According to a June 21 report from The Guardian, Bild’s parent publishing firm Axel Springer SE said the move is part of a pivot from print towards digital journalism, paired with a $109 million (100 million Euros) earnings-boosting plan.

Around 200 jobs will reportedly be cut starting in July, with the firm telling staff via email they will “unfortunately part ways with colleagues whose jobs will be replaced by AI and/or automated processes in the digital world.”

The company added that roles “such as editors, print production journalists, proofreaders, photo editors and assistants will no longer exist like they do today.”

The daily tabloid was founded in June 1952. In the 1980s, Bild reportedly sold more than five million copies per day. In 2010, Bild’s circulation fell to 3.55 million, according to Mondo Times. As of 2022, the print newspaper only had a circulation of just over 1 million, per Media Impact.

Cointelegraph reached out to Bild for comment but did not receive an immediate reply.

Related: AI is coming for your job: What industries will be affected?

The rapid development of AI has already sparked many concerns over job losses in the future.

In May, IBM CEO Arvind Krishna told Bloomberg that 7,800 jobs at the firm could be replaced by AI and automation over the next five years, representing approximately 30% of its workforce.

In a June 14 report, management consulting firm McKinsey & Co. predicted that generative AI may be able to fully automate as much as 50% of all work activity conducted in workplaces today, including tasks related to decision-making, management, and interfacing with stakeholders.

AI Eye: Is AI a nuke-level threat? Why AI fields all advance at once, dumb pic puns