For listings, price ranges and categories are suggested.
When Facebook Marketplace first launched two years ago, it looked like this.
Facebook is a social media platform that allows people from different spheres of life to signup for a free account and start connecting with friends and loved ones.
On Oct. 3, 2016, Facebook launched Marketplace, a site where individuals can search for and make offers on things directly through the Facebook mobile app. Today, October 3, 2018, marks the two-year anniversary of Marketplace.
Deborah Liu, vice president of Marketplace, noted in a Newsroom post that more than one out of every three individuals in the United States shop on Marketplace on a monthly basis, and she unveiled some new artificial intelligence-based capabilities.
Marketplace will utilize artificial intelligence to recommend price ranges and categories for postings. “If you wanted to sell your home office chair, Marketplace could utilize AI to help you sell it even faster by offering a price range of $50 to $75 based on what similar chairs previously sold for,” Liu explained.
It will also classify the chair as ‘furniture based on the pictures and description, so you don’t have to.”
Facebook Marketplace now has new AI functions
The social network is also experimenting with AI-powered capabilities in its Camera to propose products to users. “Say you liked your friend’s headphones and wanted your own,” Liu wrote.
You might take a picture of the headphones and use Marketplace’s AI technology to find similar things for sale in your area.”
She went on to say that the technology might be expanded to allow people working on home design projects to upload images of the rooms they’re working on and receive furniture recommendations based on the layout and size of those rooms.
Since its launch, Facebook has added content from businesses such as vehicles, house rentals, home services, and shopping, as well as discounts from ecommerce retailers, to Marketplace.
Marketplace has been a leading destination for buying and selling used cars, according to Liu, since integrating car listings from local dealerships last October.
Liu also went over some of the safeguards that Facebook is putting in order to keep Marketplace safe:
- The social network is using AI to detect and remove listings that violate its policies by analyzing images, content and context within those listings.
- Much like eBay, buyers and sellers on Marketplace can now rate each other after transactions, enabling more informed decisions before future transactions and promoting good behavior.
- Users can report listings or buyers and sellers that violate Facebook’s commerce policies.
“We’re constantly investigating methods to help people make more informed decisions about who to purchase and sell with, such as badges for buyers and sellers who have validated their identity and features that make it easier for sellers to select a nearby public spot to meet in person,” she continued.
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