Story image

Facebook Marketplace gets a dash of AI for smarter listings

04 Oct 18

Facebook Marketplace has been infused with a dash of artificial intelligence (AI) and a few new features to make the platform more efficient and personalised.

Since Marketplace’s launch two years ago, it has served many growing businesses – to the point where one in three US Facebook members visit Marketplace every month.

Now sellers will be able to use AI for a number of different features, including price range suggestion, translation, and auto-categorisation.

Price range suggestions and auto-categorisation are designed to suggest prices based on what similar things have sold for on Marketplace, and categorise a product as a specific item.

Facebook Marketplace VP Deborah Liu explains: “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.”

Facebook’s AI will also improve photo quality, translate Marketplace listings, and translate Messenger conversations. It is also testing a feature that allows potential buyers to take photos of things they like – Marketplace will then suggest similar listings for sale nearby.

Marketplace now serves a larger base of sellers, after it added more content from businesses including cars, shopping and deals from e-commerce merchants, home services, and home rentals.

”Today, vehicles is one of the most popular categories for Marketplace globally, alongside furniture and electronics. Since introducing car listings from local dealerships one year ago, Marketplace has become one of the top destinations for people to buy and sell used cars. And I’m one of them. In fact, my family just sold our car to a man who is planning to use it to help grow his small business,” Liu says.

Facebook adds that it is committed to building and maintaining trusted Marketplace communities. It has rolled out a number of trust tools, including:

•    Detecting and Removing Inappropriate Content: AI will detect and remove items that violate our policies by analysing the images, content, and context within a listing.

•    Buyer and Seller Ratings: Buyers and sellers can now rate each other to signal whether they had a good or bad experience, as well as leave feedback on where they can improve such as response time, friendliness and reliability. In addition to helping people make more informed decisions on who to transact with, community ratings help create a better experience by promoting good behaviour.

•    More Robust Reporting Tools: The community can report content that doesn’t belong on Marketplace. If you see an item for sale that you believe violates Marketplace Commerce Policies, you can easily report the listing. You can also report buyers and sellers if you see activity that you think shouldn’t be on Facebook.
Facebook is also asking users for ideas about creating safer marketplaces, such as identity verification and badges, and in-person safety features.

Report finds GCSB in compliance with NZ rights
The Inspector-General has given the GCSB its compliance tick of approval for the fourth year in a row.
Preparing for e-invoicing requirements
The New Zealand and Australian governments are working on a joint approach to create trans-Tasman standards to e-invoicing that’ll make it easier for businesses in both countries work with each other and across the globe
5c more per share: Trade Me bidding war heats up
Another bidder has entered the bidding arena as the potential sale of Trade Me kicks up a notch.
Hootsuite's five social trends marketers should take note of
These trends should keep marketers, customer experience leaders, social media professionals and executives awake at night.
Company-X celebrates ranking on Deloitte's Fast 500 Asia Pacific
Hamilton-based software firm Company-X has landed a spot on Deloitte Technology’s Fast 500 Asia Pacific 2018 ranking - for the second year in a row.
Entrepreneur reactivates business engagement in AU Super funds
10 million workers leave it up to employers to choose their Super fund for them – and the majority of employers are just as passive and unengaged at putting that fund to work.
Tether: The Kiwi startup fighting back against cold, damp homes
“Mould and mildew are the new asbestos. But unlike asbestos, detecting the presence – or conditions that encourage growth – of mould and mildew is nearly impossible."
Capitalising on exponential IT
"Exponential IT must be a way of life, not just an endpoint."