Read what Netflix has to say about AI
In a recently filed report (viewed by Variety), Netflix added a new part to its risk factors section in the video competition section. U.S. companies are required to describe these risk factors under SEC rules.
The company said: “New technological developments, including the development and use of generative artificial intelligence, are evolving rapidly. If our competitors gain an advantage by using such technologies, our ability to compete effectively and our results of operations could be harmed.
Additionally, the use or adoption of new and emerging technologies may increase our exposure to intellectual property claims, and the availability of copyright and other intellectual property protections for AI-generated material is uncertain.
What Netflix Removed From Its Risk Factors Section
Aside from the AI warning, other risk factors for Netflix in 2023 remained the same. However, the company removed a part of the report that was mentioned in the 2022 report. The part on the risks posed by the Covid pandemic (also present in the 2020 and 2021 report) was removed from the latest report.
This part said: “The ongoing coronavirus (COVID-19) pandemic has disrupted our business, increased our costs, caused delays in publishing content and may again impact our business and results of operations.”
How AI Disrupted Hollywood in 2023
In 2023, two Hollywood unions, WGA And SAG-AFTRA, went on strike as studios began using AI for their productions. Union members were concerned that technology was harming their livelihoods.
During the writers’ strike, Netflix’s job posting for a product manager in the company’s machine learning group with a salary range between $300,000 and $900,000 was also criticized by writers . Striking union members protested Netflix’s release, even though that work focused on developing AI for content personalization and optimizing payment processing systems, not projects based on generative AI.
Times of India Gadgets Now Awards: Vote now and choose the best phones, laptops and other gadgets of 2023
