It looks like Google and Facebook go hand in hand. Earlier Facebook decided to shut down few of their apps due to low usage. Now, reports have emerged that Facebook is looking to an AI Startup to tackle fake news. A few months ago, Google made their own Google News for tackling the same issue. The London based Artificial Intelligence Startup is known as Bloomsbury AI which is being acquired by Facebook. The news was first reported by TechCrunch on their website.
Bloomsbury AI has successfully built an NLP. An NLP is a Natural Language Processing technology which helps the machine answer questions regarding the document. The technology is used to analyze the document and get the vital information mentioned it. Guillaume Bouchard, Luis Ulloa, and Sebastian Ridel are the co-founders of this tech which helps the machines understand human voices easily.
The co-founders of the company said in a statement that “We started with building a tech that will understand the document given to it. Hence, when any question is posted to the machine it can answer them according to the document provided. As a result, we made CAPE which lets the user do the same with their own documents. We are looking forward to improving our AI tool so that user can be more satisfied using them”.
With the acquisition of the AI company, Facebook aims to tackle fake news with their technology. If it happens, Facebook will join Google in improving journalism. There has been a lot of fake news on the internet and the top companies want to make people read what is true. To do so, Google and Facebook are trying a lot by using AI and Deep Learning methods.
The Deal Between Facebook And Bloomsbury AI
The rumored deal between the Facebook and Bloomsbury AI is nearly confirmed. Many sources have confirmed about the deal happening between $20 million to $30 million. The deal will include cash as well as stocks of the Social Network giant. One of the sources said that the investors will receive around $5.5 million and around $17 million will be given to the employees in terms of stock. Facebook has been stable for quite some time and has started to improve hence the stock option might not be bad enough for the company members. Another source claims that Facebook is acquiring the startup mainly due to one of its co-founder. When the LinkedIn profile of Sebastian was studied, it says that he is linked with Factmata, a UK based startup which is trying to fight against fake news.
Hence, Facebook is looking out for Bloomsbury AI to build their very own AI platform. It will help them to tackle Fake News spread over the internet. Along with that, Facebook can use the tool for other purposes too. They can use the tool in the FAQ section wherein the users can ask questions and get them answered directly. Also, some of the sources have said that since Facebook was looking out to establish their AI in the UK, the presence of the startup has also ignited the deal a bit. It is quite certain the deal is happening and it will be made official in a few days time by the company.