As we approach the Labor Day weekend, SABEW, the association for business journalists, warns about the twin dangers posed by AI and the increased financial pressures on news organizations.
Artificial Intelligence is no substitute for human judgment, particularly when it comes to understanding and interpreting the complex data included in economic and financial reports released by governments and corporations.
Moreover, financial threats to news organizations posed by market pressures and ownership by private equity and hedge funds are severely limiting access to financial news that’s rooted in local communities. Turning to AI as a substitute for employees is no solution and could undermine an outlet’s credibility.
As the threats from AI and financial pressures rise, there is also a need for government organizations to ensure that everyone is treated equally when economic reports are released. And for those organizations to be more transparent about the release of revised reports.
Finally, we applaud the work of thousands of financial and business journalists around the nation and the world who are doing their best to provide accurate and timely information about the state of business and the economy.
“This Labor Day weekend, we salute those who go the extra mile for their readers, viewers and users,” said James T. Madore, vice chair of the First Amendment Committee and a Newsday reporter. “We also encourage reporters and editors to avail themselves of SABEW’s monthly training sessions and the Sept. 27 Skill Up program at the Wall Street Journal in Manhattan.”
The day before Skill Up, and also in Manhattan, SABEW will mark its 60th Anniversary with a gathering of the top business editors and reporters at Dotdash Meredith on Thursday, Sept. 26. Panels will discuss the state of the business media industry and the role that new technology is playing now and in the future, and honor past SABEW presidents at a closing reception.
SABEW is the largest association of business journalists. The nonprofit organization advocates for the protection of the First Amendment and a free press.
