Snapchat AI bot launches, almost immediately tanks user ratings and stock price
The results of Snapchat's new partnership with OpenAI has been available to users since April 19, 2023; however, it is apparent that a number of those ~750 million individuals do not appreciate the the well-known messaging app's new free feature by now. My AI's roll-out has reportedly resulted in sharp declines in weekly average user-satisfaction ratings and parent-company's stock price, although both have exhibited recovery since.
Nevertheless, My AI apparently continues to be a source of discomfort for Snapchat users, with some complaining that the bot misrepresents the amount of personal data it uses (for example, it reportedly claims not to use location data (which, as Snapchat concedes, it does), then proceeds to recommend nearby businesses or services anyway).
Furthermore, the bot is persistently available in the app's main chat screen - except for paid subscribers, that is. Finally, this evidence that Snapchat has learned nothing from the Spectacles debacle comes with the caveats that it may generate "biased, incorrect, harmful, or misleading content" and should not be used for more than "burning trivia questions", according to its own provider.
Snap Inc. already faces an estimated 4.7% year-on-year drop in revenue for the second quarter of 2023 (2Q2023) due to a gradual draining of its digital advertising "life-blood"; now, My AI might just further risks to the company's profits in the future.