Meta Platforms, Facebook’s parent company, isn’t making as much headway on eCommerce as staff expected when the pandemic hit, according to The Wall Street Journal. Several retailers aren’t thrilled about it.
Retailers have expressed their dissatisfaction with the service, claiming that it lacks fundamental features such as the ability to show items in multiple configurations if they aren’t sold directly through Facebook and Instagram.
According to a WSJ source, at least five senior executives have come and gone in the last six months. Meta, on the other hand, is optimistic about the initiative.
A multi-year plan
According to Joe Osborne, a Meta representative, building a full-fledged commerce platform is a multi-year endeavour that became a corporate priority less than two years ago. Meta says it is proud of its progress and the people who are striving to make these experiences a reality.
Early in the pandemic, Meta allegedly ramped up its eCommerce efforts, debuting products like Facebook and Instagram Shops. Brands were able to put their catalogs immediately on the applications.
In addition, Meta had begun planning for numerous privacy changes Apple was considering implementing.
Apple pulled the trigger
The changes included policy changes that would allow users to opt-out of having personal device activity recorded by firms like Meta, which was critical to Meta’s ad efficacy analysis.
Meta has increased access to its massive language model, which now includes the AI community, to do research. The model is the world’s first 175-billion-parameter language model available to AI researchers.
Natural language processing systems that have been trained on enormous quantities of text and can answer reading comprehension questions or create new content are referred to as “big language models.” Meta stated that the Open Pretrained Transformer would improve research’s comprehension of how massive language models function.
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