Facebook Marketplace Introduces AI Capability To Facilitate Vendors’ Sales

Facebook Marketplace Introduces AI Capability To Facilitate Vendors’ Sales
Merchandising & Curation

The social media site's Marketplace has a tool that gives sellers price range suggestions and can automatically categorize features, optimizing the selling experience

Todd Neikirk
  • 8 october 2018

One of the ways Facebook looked for ways to continue growth and monetize its presence was to create Facebook Marketplace, a buy-and-sell feature meant to compete against Craigslist. With access to the latest in emerging technology, Facebook looked to artificial intelligence to improve its platform, using the technology to help sellers determine the proper price point for their items.

Facebook’s tool will be able to categorize vendors’ items based on a photo and description, then will make suggestions as to a price range for sellers to choose from. Furthermore, the autosuggest feature reportedly reduces the chance that vendors will abandon their listing, boosting their confidence.

Facebook hopes to not only streamline the vendor experience, but also further incentivize marketplace activity and attract new members.

Facebook

One of the ways Facebook looked for ways to continue growth and monetize its presence was to create Facebook Marketplace, a buy-and-sell feature meant to compete against Craigslist. With access to the latest in emerging technology, Facebook looked to artificial intelligence to improve its platform, using the technology to help sellers determine the proper price point for their items.

+AI
+artificial intelligence
+craigslist
+Facebook
+marketplace
+merchandising & curation
+Shopper education & assistance
+Social Media
+technology

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