Facebook's Marketplace achieves a nearly 100% increase in consumer engagement using computer vision and natural language processing
Summary:
Facebook has leveraged computer vision and natural language processing to enhance the customer's experience on Marketplace. The company has built a product index that draws information both from the text accompanying a product as well as the photos, through their image and text understanding systems. As a result, when searching for products, the recommended results are ranked based on a content retrieval system. This has enabled Facebook's Marketplace to achieve a nearly 100% increase in consumer engagement.
Problem:
Facebook Marketplace was introduced in 2016 as a place for people to buy and sell items within their local communities. Today in the U.S., more than one in three people on Facebook use Marketplace, buying and selling products in categories ranging from cars to shoes to dining tables. Managing the posting and selling of that volume of products with speed and relevance is a daunting task, and the fastest, most scalable way to handle that is to incorporate custom AI solutions.