Featured Image of this Article

Facebook Boosts Its Artificial Intelligence Play

Facebook has been a hot topic as it struggles with many negative reports, so here is finally some good news coming from the company.

Facebook has been a hot topic as it struggles with many negative reports, so here is finally some good news coming from the company.

As the social media giant battles scandals, whistleblower reports, and investigations from lawmakers, Facebook (NASDAQ: FB) has kept its cool and plowed on with its artificial intelligence (AI) plans. 

What is Facebook’s Ego4D project? 

On Thursday, it unveiled its latest research project, in which it collected 2,200 hours of first-person footage to be used to help it train its AI models. This video data was captured using GoPro (NASDAQ: GPRO) cameras and Vuzix smart glasses. The mission, which Facebook has nicknamed, Ego4D, could be very important for Facebook’s Reality Labs division. 

Lead research scientist at Facebook, Kristen Grauman, stated: 

This release, which is an open data set and research challenge, is going to catalyze progress for us internally but also widely externally in the academic community and [allow] other researchers to get behind these new problems but now be able to do it in a more meaningful way and at a greater scale.”

Whispers have also hinted that the data could also be deployed for AI models, used in particular to train robots by helping them to better understand the reality we humans live in. 

The company stated that Ego4D has around 20 times more hours of footage than any other data set in its league. While the footage was recorded in the U.S., U.K, Italy, parts of Asia, and in the Middle East, the firm said it plans to expand the project to Colombia and Rwanda too.

Facebook pushes AI 

Facebook has been busy building numerous projects in the AI sphere, including smart glasses, such as the Ray-Ban Stories that it released last month, and its virtual reality efforts. 

The company is betting big on its virtual reality efforts. In 2014, Facebook acquired Oculus, a virtual reality headset manufacturer, for $2 billion.

What is Facebook up to? 

The launch of Ego4D definitely comes at an intriguing time for Facebook as it has been increasing its investment in hardware recently. In September, it released its first smart glasses, Ray-Ban Stories, at a cost of $299. Back in July, it also told the press about its new product team which is working specifically on its “metaverse” mission. The idea behind the project is to build a digital world that will allow multiple people to experience it at the same time. 

All of the latest developments have excited investors and rightly so as they could represent a huge advancement in the tech/social space. 

To find other worthy investments, check out MyWallSt’s shortlist of market-beating stocks. Click here for a 7-day free trial.