Reddit’s CEO, Steve Huffman, shared important updates through the firm’s Q2 earnings name, as reported by Devices 360. Huffman introduced that Reddit will start testing AI-generated summaries for search outcomes. These summaries, geared toward boosting consumer interplay with the platform’s numerous content material—together with video games, communities, and product showcases—might be prominently featured on the high of search pages.
The brand new function is designed to supply customers with extra profound insights into their search matters. Huffman additionally highlighted Reddit’s sturdy search capabilities, noting that customers conduct over 1 billion searches every month. Latest statistics present a considerable rise in consumer engagement, with the platform boasting 342.3 million weekly lively customers, marking a 57% improve from the earlier yr.
Alongside the search summaries, Reddit has been enhancing its platform with varied AI-driven instruments. Huffman pointed to the success of Reddit’s AI-powered translation function, with France rising as one of many fastest-growing markets for this device. The interpretation help will quickly lengthen to German, Spanish, and Portuguese.
Reddit has additionally cast strategic partnerships with main tech firms like Google and OpenAI. A take care of Google, valued at round $60 million yearly, permits the tech big to make use of Reddit’s content material to coach its AI fashions. In the meantime, OpenAI has secured entry to Reddit’s Knowledge API, enabling real-time content material sourcing for merchandise like ChatGPT. This collaboration permits Reddit to leverage OpenAI’s giant language fashions (LLMs) to create modern AI options for its platform.
Earlier this month, new challenges arose for tech big Microsoft as Steve Huffman introduced an finish to free information scraping on Reddit, in line with The Verge. Huffman is urging Microsoft and different tech firms to pay for entry to Reddit’s information, following profitable agreements with Google and OpenAI.
Huffman confused the significance of those offers for sustaining management over Reddit’s information and guaranteeing its accountable use. With out such agreements, Reddit can’t oversee how its information is offered or utilized, risking potential misuse.
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Revealed: 07 Aug 2024, 09:02 PM IST
