Artifact was launched in January last year.
The AI-powered platform was presenting summaries of news for users and also brings other features like creating new posts.
Instagram continues to top the app charts with billions of users and new features, but their co-founders have decided to end a project due to changes in the market. The app called Artifact is an AI-powered platform that delivers news and recipes to people in a concise manner. It would shut down just a year after it was launched by Kevin Systrom and Mike Krieger.
The co-founders feel that an AI-powered platform is probably not the best use of their investment and would rather work on something that can deliver solid returns. “We’ve built something that a core group of users love, but we’ve concluded that the market opportunity is not large enough to warrant continued investment in this way,” Systrom wrote.
It is interesting to hear this statement from the co-founders at a time when AI-powered devices are gaining prominence and popularity among consumers. Artifact came out 12 months ago and has since added AI-powered summaries and a few other features.
Problems began to arise for Systrom and company when they had to begin planning for further expansion of the team, which required more investment. And as the comments above show, they clearly weren’t willing to do so.
News content aggregation is a viable model, that too with the help of AI, but adopting a strategy to moderate the content is equally important and this is where the duo decided to pull the plug before delving deeper into the product. There’s a reason why Instagram decided to stay away from news and even Threads, which is reportedly a rival to Twitter (now called X), avoided focusing on news.
So, what happens to the people who use the artifact? The platform will shut down its features in the coming weeks and disable the option to comment and new posts for users. The main news aggregation engine will run until the end of February but after that the app will be inactive. Systrom says he’s excited about AI in general, so it’s likely the two co-founders will be back with AI in a new incarnation.
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