Companies will now have to pay to access Reddit API
Reddit is a platform that hosts immense human interactions. Since the end of last year, we have observed a rise in the AI revolution. Many AI companies used Reddit to train their AI models. All such companies have benefitted from the platform free of cost. Now, the company is taking a step that will prevent the usage of Reddit’s data for free. Reddit has announced a new policy that will require companies to pay for using Reddit’s API.
In addition to this, the company claims that developers (for creating apps) and bots (helping users use Reddit) will have free access to its API. However, the details about the pricing of API access for companies are missing. Some reports indicate that the company will divide the price depending on the conditions into two different tiers. In order to make sure that the moderators can still access the platform’s API, the company is introducing a dedicated moderation app. The app will be launched for both Android as well as iOS. It will feature rule management tools, mod queue information, mod logs, and more.
The importance of Reddit’s data
According to the co-founder and CEO of the company, Reddit is a unique platform that permits genuine conversations. The information is available on Reddit but can’t be found anywhere else on the internet. CEO Steve Huffman further states that because of these unique attributes the platform won’t give its value for free to companies like Google and OpenAI.
In addition to this, Reddit also intends to incorporate AI into its services. such services would include the detection and marking of the content generated by AI bots. well, this recent development by the company is not something strange. Since AI is growing rapidly. Various platforms and companies have taken a similar perspective on AI. Some other rumors suggest that Reddit will go public this year. In this way, the company would generate a new revenue stream. Having companies pay for API access would ensure the monetization of data. In this way, Reddit’s data would be used by companies that actually value it.
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