Originally the feature was designed to compete with Craigslist.
But it had totally outdistanced both Craigslist& eBay by combining the power of artificial intelligence with gigantic traffic on the website.
On its anniversary, Facebook launched a new feature which auto-suggest the pricing of the product and adds it to the listings.
After the success of Amazon Spark, it was predicted that Facebook was coming up with a similar technology. Facebook AI is not only giving Craigslist& eBay a hard time it is also competing with Amazon Spark.
The only issues which people consider while buying things online are trust issues.
Why the product be of high-quality?
Is the user a scam?
Will the product be delivered on time?
If you’ve ever worked in an e-commerce store you can understand the feeling of people not trusting you because of a fresh startup.
But with Facebook Marketplace there are no such issues. With honest ratings, people can rate the seller and the buyer which can tell us a lot about someone whom we are about to do business with.
This is not the first time that Facebook is trying to compete with brands like Craigslist& eBay and brands which are much bigger than Facebook. But one grand advantage of Facebook over others is his audience.
Without any further due let us get into the core of this blog and tell you more about Facebook AI.
Some Amazing Facebook AI features
Firstly, there is an option in which the product is categorized automatically to make it easier for the seller.
However, auto price suggestion is not something new in the market. Previously, eBay launched a similar feature for its mobile users. After this, the feature was adopted by Letgo to structure and categorize its products and make it easy for customers to buy.
In Facebook, the company can categorize products based on their description and the product image. The suggested range of price is from $50 to $75. According to the estimates received by the company, Facebook claims that this will reduce the abandoning ratio.
Moreover, Facebook AI will automatically improve and enhance the colors, lightning of the picture to make it more likable.
Adopting the feature from Facebook pages, now the new feature in Facebook AI will enable both the sellers and buyers to share the experience and present their feedback. This is a great initiative as it will make the buying and selling process more transparent. Before buying users can check-out the ratings of each other and decide whether it is a scam or real deal.
The future of Facebook AI
In the future, the things are about to get more interesting for the people who use Facebook. People will be able to discover products by using their camera. Previously, tried by Google, named as Google Glasses, the product was criticized for its heavy price and the security concerns. It is time for Facebook to face the ring and deliver a product that can serve something good to its customers.
The thing works like this. You point your camera at the headphones of your friend, and Facebook AI will present you with all the places from where you can get the product.
In future Facebook is also planning to pin down Pinterest by taking help with your home décor from experts across the globe. Simply, upload the picture of your bedroom and ask the experts for their advice.
Unlimited Shopping Options
While speaking to a tech magazine the company also revealed that Facebook is willing to expand from selling stuffed toys in your backyard to renting homes and providing car rental services right from your phone.
Today, there is the huge market for selling and buying vehicles online. Along with the other electronic items and furniture. In the Facebook Marketplace, the selling and buying cars has been inactive for the past year and giving satisfactory results.
A trusted company
While there is much debate regarding the trust issues and data breach in Facebook, the company is aiming to make the necessary changes to win the trust of their customers. According to the sources here are some key features which will enhance the buying experience on Facebook:
Removing of inappropriate content: Thanks to the Facebook AI, just like a professional digital marketing company cannot afford to keep content which is inappropriate for the potential users, Facebook AI can now analyze, detect, and remove the questionable content before it gets published on the site.
Ratings of both seller and the buyer: As mentioned earlier, now people can identify scams just by looking at the ratings of the seller. In a similar manner, the seller can see the buyers and get feedback on the status of each buyer before they send the product. This gives people the ability to take more informed decisions and create an environment of trust among the community.
Transparent Reporting Tools: The reporting tools in Facebook AI Are quite helpful. Users can report the scams if a certain product or seller/buyer is violating the policies set the company. You can also report if something you feel is on Facebook which is not appropriate for the Facebook audience.
To wrap it all up
Even if there are some features which are not on Facebook Market yet, there is little or no chance that Facebook is leaving the playing field soon. With gigantic size and scale, it is assumed that Facebook will catch-up with the rivals soon. It is on marketers and people who are willing to sell and purchase on Facebook to take the most advantage of the feature.
It is not about using it or ignoring it, the AI technology is just in a novice stage. If you’re a budding entrepreneur or someone with good selling skills, this is your time to shine out like a start.
Look deep into these features by Facebook and see where you fit-in the race against time. There is no such thing as late bloomer in technology, technology is evolving in an exponential rate and you can cope-up with it anytime, providing you are serious about doing something worthy of your time.