Targeted at local community buying, this new Facebook Marketplace AI feature might give a tough competition to apps already doing the same
Facebook, on the second anniversary of its Marketplace, has announced new AI features to further improve the user experience. The newly launched Facebook AI features will not only give price suggestions but will also help users in auto-categorisation of products.
The Social Media giant in a press release said, “We believe AI can fundamentally change the way people shop and are excited about the potential opportunities and value it can bring to buyers and sellers.”
How Facebook’s new Marketplace AI features work?
The new AI feature collects data on prices, people are selling their products on Facebook Marketplace and suggests a price range based on the photo of the product you upload and want to sell. For example, if you are looking forward to selling a king size bed on the marketplace, the new Facebook AI feature will suggest you the price range as soon as you upload a photograph. The feature will also automatically categorise it as “Furniture”, making it easy for potential buyers to search the product.
Targeted at local community buying, this new Facebook Marketplace AI feature might give a tough competition to apps already doing the same. It’s not new for Facebook users to see ads of the products they had once searched for on their FB timelines.
A small future prediction
Seeing the amount of technological progress AI is making, the day that machines improve our experience as a consumer may not be far at all. In fact, price comparisons, better choices, product quality and availability are verticals that various AI platforms have already aced.
Sounding optimistic about the future, Facebook in the same press release has also mentioned, “In the future, AI could help simplify tasks like completing an outfit or home design project. For example, you could upload a photo of your living room and get suggestions on furniture to buy based on your layout and size.”
A bit like OLX, you can easily access Facebook Marketplace by searching for keyword “Facebook Marketplace” on your FB account.