Date:
August 07, 2024
Continuing its ongoing AI efforts, Reddit is working on developing AI-powered search results and summaries to help users dive deeper into content.
Among the social media giants racing to become AI leaders, Reddit has gained reputed popularity with rather stable AI developments. The company has evolved its offerings to enhance user navigation, experience, and capabilities on the platform. Reddit’s CEO and co-founder, Steve Huffman, has announced to investors and key stakeholders new AI innovations along with the financial numbers during a meeting on Tuesday.
The announcement revolving around AI included new capabilities like AI-powered search results, recommendations, and consolidated summaries. Huffman said that the internal development teams will start working on this project later this year. According to Huffman, introducing these features will help users dive deeper into content discovery and engage better with new Reddit communities.
Reddit will utilize a combination of first-party and third-party technologies to power the AI capabilities. Its strategic partnership with OpenAI and Google for AI technology and data sharing will facilitate faster development and training on the new AI features. The online communities closely following Reddit’s developments had predicted AI search and recommendation features long before its CEO made the official announcement.
When the platform introduced AI-powered translation from English to French, its active user count surged in France by two-digit percentages within a year. Now, the platform is planning to expand its AI translation language library by adding German, Spanish, and Portuguese.
Considering the controversial spotlight Reddit gained last year for eliminating third-party API integrations, this step will help regain the remaining lag in reputation and end consumer sentiment. Many established Reddit communities went dark as a sign of protest, a lot of which have never come back to life.
As a result, the platform lost a significant chunk of end-consumers. The tech giant quickly revamped its strategy and brought back the major loss incurred. Reddit has recorded a significant jump of 57% in its weekly active users, summing to 342.3 million compared to last year. Its revenues have also gained momentum, reaching $281.2 Million, higher than Wall Street’s expectations of $253.8 Million.
