Facebook could leverage the underlying AI technology of GrokStyle as well as the start-ups employees to strengthen its own efforts in this field
Facebook,the social media giant has recently announced that it has acquired GrokStyle – a visual shopping and artificial intelligence (AI) startup, in order to strengthen its own AI work.
GrokStyle is a start-up that has developed an AI-powered visual search engine to let the users to find products.Its technology was integrated into the mobile app of Ikea and was simple in practice. It allows a user to take picture of a product to match it with the same products that could be bought online.
To Boost AI capabilities
Vanessa Chan, Spokeswoman, Facebook,stated that they are excited to welcome GrokStyle to Facebook and their team and technology will contribute to their AI capabilities.
In an official statement GrokStyle has revealed that they are winding down the business. However, it didn’t reveal that it is joining Facebook.
Facebook could leverage the underlying AI technology of GrokStyle as well as the start-ups employees to strengthen its own efforts in this field. It will help Facebook Marketplace, the service for buying and selling products from other users of Facebook on its social network.
Earlier, Facebook has bought the team behind Chainspace -a blockchain technology firm.The acquisition of GrokStyle marks the second such transaction by social media giant this year.
Last year, Facebook acquired nearly four companies, including start-ups that are focused on AI and messaging.