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Social Media Giant Facebook Brings New AI-features For ‘Marketplace’ Shoppers, Sellers

Facebook said it had invested in detecting and removing inappropriate content from Marketplace

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Intel, Facebook working on cheaper AI chip. VOA

As Facebook celebrates the second anniversary of its “Marketplace”, the social media giant has introduced new Artificial Intelligence (AI)-powered features to help its buyers and sellers complete transactions faster.

Marketplace was introduced in 2016 as a place for Facebook users to buy and sell within their local communities.

It has grown to be a place where people around the world can discover things they love, connect with people locally, launch a business, and earn a living, Facebook 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,” Deborah Liu, Vice President, Marketplace, Facebook.

AI has already been used to make Marketplace more efficient and help sellers connect with more potential buyers by performing a variety of tasks such as improving the quality of photos automatically and translating Messenger conversations, among others.

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Facebook’s new AI features to help ‘Marketplace’ shoppers, sellers. Pixabay

The new features introduced this week use AI for price range suggestions and auto-categorization.

For example, if you wanted to sell your home office chair, Marketplace could use AI to help you sell it even faster by suggesting you price it between $50-75 based on what similar chairs recently sold for.

It will also automatically categorise the chair as “furniture” based on the photo and description, so that you don’t have to.

“We’re also testing camera features that could use AI to recommend products you might be interested in. Say you liked your friend’s headphones and wanted your own; you could snap a photo of the headphones and Marketplace’s AI technology could recommend similar listings for sale nearby,” Liu said.

In the future, AI could help simplify tasks like completing an outfit or home design project.

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Facebook App on a smartphone device. (VOA)

“For example, you could upload a photo of your living room and get suggestions on furniture to buy based on your layout and size,” Liu added.

Facebook said it had invested in detecting and removing inappropriate content from Marketplace.

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“Thanks to our AI technology, we are working to detect and remove items that violate our policies by analyzing the images, content, and context within a listing,” Liu said. (IANS)

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Facebook CEO Mark Zuckerberg Accepts That The Social media Giant May Have To Pay Excessive Taxes

Zuckerberg will tell the conference that he's glad that that the OECD is looking at tax reform, which Facebook also wants

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Mark Zukerberg
The billionaire social network founder is due to meet members of the European Union's executive Commission in Brussels and speak at the Munich Security Conference in Germany. VOA

Facebook CEO Mark Zuckerberg plans to throw his support behind international reforms that would require Silicon Valley tech giants to pay more tax in Europe.

The billionaire social network founder is due to meet members of the European Union’s executive Commission in Brussels and speak at the Munich Security Conference in Germany.

Zuckerberg is expected to tell the conference  that he’s backing plans for digital tax reform on a global scale proposed by the Organisation for Economic Co-operation and Development. According to an excerpt of his speech provided in advance, Zuckerberg will say, “I understand that there’s frustration about how tech companies are taxed in Europe.”

Zuckerberg will tell the conference that he’s glad that that the OECD is looking at tax reform, which Facebook also wants. “And we accept that may mean we have to pay more tax and pay it in different places under a new framework,” Zuckerberg will reportedly say.

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Mark Zuckerberg Accepts That Facebook May Have to Pay More Taxes. VOA

The OECD plans would require digital and internet companies, including social media platforms, to pay more tax in countries where they have significant consumer-facing activities and generate profits.

The current system for taxing multinationals is based on where they are physically located, which sees internet companies such as Facebook pay the majority of their tax in the United States. The situation is even more complicated in the European Union, where multinationals largely pay taxes on business done across the region in the one country that serves as their EU base, often a low-tax haven.

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Tech companies have faced criticism for not paying enough tax in come countries. The U.S., meanwhile, has criticized the OECD plans, arguing they discriminate against big Silicon Valley companies. (VOA)