Facebook has just announced that for Marketplace’s second birthday it will be receiving some new features that are powered by artificial intelligence (AI). While AI was already used to improve image quality and translate listings, it will now be used for price range suggestions, and auto-catergorization of products.
Describing the new tools, VP of Marketplace, Deborah Liu, said:
“[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 categorize the chair as “furniture” based on the photo and description, so that you don’t have to.”
Facebook said it is also testing some new camera features that are powered by AI too. For example, if you liked the look of some headphones, you’d be able to take a picture of them and get similar listings recommended to you on Marketplace. Another idea Facebook has had is giving users the ability to upload a photo of your living room and getting suggestions on furniture to buy based on the style, layout, and size of the room.
Aside from new AI features, Facebook has added content from businesses that deal in cars, home rentals, and home services. The firm said that vehicles have been some of the most popular products on its platform since launching in 2016. In terms of the general health of Marketplace, Liu claimed that one in three people on Facebook in the U.S. are now using Marketplace every month.
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