Reddit will soon add AI-generated summaries atop its search results, co-founder and CEO Steve Huffman told investors on a Q2 earnings call last week. The company will later this year begin testing AI-powered search result pages that “summarize and recommend content,” said Huffman, who expects the technology will help Reddit users “dive deeper” into content and aid in discovery. Huffman mused monetization strategies, including boosting ad inventory and possibly installing a paywall to differentiate premium content. The discussions accompanied news that Reddit lost $10.1 million in Q2, which saw revenues of $281 million, a 54 percent increase year-over-year. Continue reading Q2 Report: Reddit Adds Users, Narrows Losses, Preps for AI

Facebook parent Meta announced better-than-expected earnings for Q2 last week, surpassing Wall Street estimates for revenue and profit. The company plans to continue spending heavily on artificial intelligence and virtual reality, despite significant losses in its AR/VR and metaverse businesses. Meta reported a revenue increase of 22 percent from $32 billion for the same quarter last year, representing four straight quarters of growth exceeding 20 percent. The company noted that net income jumped 73 percent to $13.47 billion. Advertising revenue, largely from Facebook and Instagram, was up 22 percent year-over-year. Continue reading Meta Reports Q2 Digital Ad Growth, Will Continue AI Spending

Meta Platforms CEO Mark Zuckerberg unveiled the latest version of computer vision platform SAM 2, an update on the company’s Segment Anything Model that automates for video what the original SAM did for still images — identifying the edges of an object and isolating it in the frame. Zuckerberg demonstrated SAM 2 as part of a SIGGRAPH 2024 keynote session in which he was interviewed by Nvidia CEO Jensen Huang. “Being able to do this in video and have it be zero shot and tell it what you want, it’s pretty cool,” Zuckerberg said. Meta is sharing the code and model weights for SAM 2 with a permissive Apache 2.0 license. Continue reading Mark Zuckerberg Unveils SAM 2 AI Tech for Segmenting Video

Meta Platforms is bringing its Meta AI assistant to Quest 3 headsets in the U.S. and Canada. As part of the company’s ongoing collaboration with Microsoft, Quest 3’s Horizon OS will also get access to real-time information courtesy of Bing search. The update will also bring Meta AI with Vision — already integrated with the Ray-Ban Meta smart glasses — to Horizon OS, initially just in passthrough mode. “These changes will begin rolling out in the U.S. and Canada in experimental mode next month — and we’ll continue to improve the experience over time,” Meta explains. Continue reading Meta Brings AI Assistant, AI Vision to Some Quest Headsets

Federal regulators have taken the unprecedented step of banning the NGL messaging platform from providing service to users under 18. The action is part of a legal settlement between NGL Labs, the Federal Trade Commission and the Los Angeles District Attorney’s Office. NGL, whose niche is “anonymous” communication and features the tagline “Ask me anything,” has also agreed to pay $5 million in fines. An FTC investigation found that in addition to fraudulent business claims about divulging the identities of message senders for a fee, NGL also falsely claimed it used artificial intelligence to filter out cyberbullying and harmful messages. Continue reading Popular Messaging App Banned from Servicing Young Users

Meta Platforms CEO Mark Zuckerberg recently announced that the company will test a feature to create AI characters through the AI Studio on Instagram that can engage with fans and respond to messages. “Rolling out an early test in the U.S. of our AI Studio so you might start seeing AIs from your favorite creators and interest-based AIs in the coming weeks on Instagram,” he wrote. “These will primarily show up in messaging for now, and will be clearly labeled as AI.” Zuckerberg noted the beta test will help the company improve AI characters and will be made “available to more people soon.” Meta launched AI Studio last year to help businesses build custom chatbots. Continue reading Meta Testing AI Chatbots for Instagram Created by Its Users

To address Gen Z’s ongoing interest in social video content, Pinterest announced it is updating its app so that users will have the ability to create video versions of the more than 10 billion curated boards on Pinterest. The videos can then be shared on popular social platforms such as TikTok and Instagram. Pinterest users have been using manual methods such as screenshots and green screen effects to share their boards on other apps. According to the company — which refers to this as the “mecore” trend — searches for boards labeled “mecore” jumped 255 percent since last year. The updated approach to board sharing is designed to leverage this growing trend. Continue reading Pinterest Introduces the Ability to Convert Boards into Videos

Bellevue, Washington-based startup Butterflies AI has created a new social platform that makes artificial intelligence more interactive with humans, allowing people to create customized AIs that generate posts, comments and DMs to which their creators and other humans — as well as other Butterfly AIs — can respond. Anyone using the platform, which has launched publicly on iOS and Android after 5 months in beta, can create their own AI, called a “Butterfly.” The venture, created by former Snap engineer Vu Tran, has raised $4.8 million on Tran’s premise that the public lacks an “interesting” consumer AI product. Continue reading Butterflies: AI Interacts with Humans on New Social Platform

New documents submitted to state regulators for license applications are shedding light on how Elon Musk plans to make his X app into a payment platform that competes with services like Venmo and PayPal. Plans include letting users store money within their X accounts that can then be applied to purchases — including in physical stores — or issuing payment to other individuals or businesses. The filings come as X seeks to expand its revenue pool beyond advertising, which had in its Twitter days accounted for as much as 90 percent of sales. Ad income is said to have fallen below that threshold since Musk purchased the company in October 2022. Continue reading Musk Takes Next Step Toward Making X an ‘Everything App’

The European Commission is expanding its investigation of Apple based on preliminary findings of anticompetitive breach of the new Digital Markets Act (DMA). The Commission has found the App Store engages in “anti-steering” by preventing app purveyors from offering consumers “alternative channels for offers and content.” The Commission also opened a new investigation into App Store developer contracts, citing  the “core technology fee” implemented in January in what was perceived as a workaround to the new European Union rules, saying such policies “fall short of ensuring effective compliance with Apple’s obligations under the DMA.” Continue reading Apple in EU Crosshairs for Anticompetitive Action Under DMA

United States Surgeon General Dr. Vivek Murthy has renewed his push for Congress to enact social media warning label advising of potential mental health damage to adolescents. Murthy also called on tech companies to be more transparent with internal data on the impact of their products on American youth, requesting independent safety audits and restrictions on features that may be addictive, including autoplay, push notifications and infinite scroll, which he suggests “prey on developing brains and contribute to excessive use.” His federal campaign joins a groundswell of local laws restricting minors’ access to social media. Continue reading U.S. Surgeon General Calls for Social Media Warning Labels

More U.S. youth are relying on TikTok for news, according to a study by the Pew Research Center, which says young adults increasingly believe the short-form social video platform exposes them to information they don’t see elsewhere, even though they don’t primarily associate it with news. Among those who use TikTok, only 15 percent cite “news” as a major incentive for using the app. The study, which examines American news consumption on social media platforms, found X to be the most popular news source across all demographics, beating Meta’s Facebook and Instagram as well as ByteDance’s TikTok. Continue reading Pew Says Youth Turn to TikTok for News, but X Tops Overall

Yahoo announced it is bringing new AI features to its news and mail platforms. Its reimagined news app leverages tech acquired when it purchased news aggregator Artifact this spring. Greater personalization and a more intuitive UI are among the upgrades, which include feed customization, summaries of articles and top stories and improved sharing tools. Yahoo says all of this will allow users to make its news aggregator feed a more individualized experience that improves with use. Artifact creators Mike Krieger and Kevin Systrom, who co-founded Instagram, announced plans in January to shutter the AI-powered news app. Continue reading Yahoo Upgrades Its News and Mail Apps with AI Technology

Voodoo, the French app publisher behind mobile games like “Helix Jump” and “Crowd City” has purchased social network BeReal for $537 million. Paris-based BeReal was launched in 2020, focusing on “authentic interactions,” but didn’t gain widespread popularity until 2022 when it captured the imagination of Gen Z. According to Voodoo, the platform now has more than 40 million active users, largely concentrated in the U.S., Japan and France. The new owner says it will invest in BeReal and plans to “accelerate its growth” using Voodoo’s “expertise and technologies,” adding that the acquisition “accelerates its diversification into consumer apps.” Continue reading Mobile Game Publisher Voodoo Acquires Social App BeReal

The New York legislature passed a bill prohibiting social media companies from providing children with so-called “addictive feeds” without parental consent. The Stop Addictive Feeds Exploitation (SAFE) for Kids Act specifies addictive feeds as those that prioritize exposure to content (using a recommendation engine, or other means) based on information collected about the user or device. “Non-addictive feeds,” in which the algorithm serves content in chronological order, are still permitted under the bill, which New York Governor Kathy Hochul has vowed to sign into law. Continue reading New York Lawmakers Aim to Make Social Feeds Safe for Kids