Artificial intelligence presents a golden opportunity for publications struggling to maintain profitability in a changing media landscape.

But it also risks "fatally undermining journalism and damaging our societies", says News Corp chief executive Robert Thomson.

"This is an important moment in the history of news and knowledge with commercial and social implications and a profound impact on creativity and integrity," the former journalist told investors on Friday Australian time.

As generative AI models – such as ChatGPT – are fed texts, data and images, they pick up on patterns and structures, enabling them to reproduce seemingly original content.

In News Corp's full-year earnings report, Mr Thomson said the technology presented an opportunity to create new revenue streams and cut costs.

The company used AI to generate thousands of "hyperlocal" articles a week on stories covering weather, fuel prices and traffic conditions, News Corp Australia chairman Michael Miller told Mediaweek.

But increasingly, sophisticated technology has given rise to fake news and deep fakes, with an almost limitless potential for counterfeit content.

"Generative AI has the potential to recycle itself in what you might call endless, perfidious permutations," Mr Thomson warned.

"The potential is enormous. But garbage in, garbage out and garbage all about."

Challenges to publishers and intellectual property form a "tech triptych", he said.