AI News Aggregator Artifact to Shut Down in February 2024 Despite Early Success
After less than a year of operation, AI news aggregator Artifact will be shutting down completely at the end of February 2024. Despite its initial success, the service has concluded that there is no profitable way forward. Artifact, which was launched in late February 2023 by Instagram co-founders Mike Kreiger and Kevin Systrom, provided curated news feeds to users based on their likes.
One of Artifact’s unique features was the inclusion of AI summaries of articles, allowing users to quickly get a glimpse of the content. Additionally, the platform recently introduced the ability for users to rewrite articles with AI features. However, despite attracting a core group of devoted users, CEO Kevin Systrom stated that the market opportunity for Artifact is not substantial enough to justify continued investment.
To prepare for the shutdown, Artifact will be making several changes to its app. The ability to add new comments and posts will be removed, reducing the need for moderation. Existing posts, though, will remain visible to the users on their profile self-view. Core news viewing will continue until the end of February 2024.
The announcement of the shutdown came directly from Artifact’s CEO, Kevin Systrom, who acknowledged the difficult decision but emphasized the importance of addressing the reality of the market. He stated, It’s easy for startups to ignore this reality, but often making the tough call earlier is better for everyone involved.
Artifact’s closure raises questions about the viability of AI-powered news aggregators in an increasingly competitive market. While the service offered unique features and garnered a devoted user base, it ultimately failed to attract enough widespread attention and generate sufficient revenue.
As the service winds down, users will have to explore other options for their news consumption. Artifact’s exit may provide an opportunity for other news aggregators to step in and offer innovative features that cater to the evolving needs of readers.
In conclusion, AI news aggregator Artifact will be closing down in February 2024 after less than a year of operation. Despite its interesting features such as curated feeds based on likes and AI summaries of articles, the service deemed the market opportunity insufficient for continued investment. The shutdown process has already begun, with changes being implemented to the app’s functionality in preparation. The news raises questions about the future of AI-powered news aggregators and opens up opportunities for competitors to fill the gap left by Artifact’s departure.
