Facebook to Acquire Bloomsbury AI to combat Fake News

Bizztor Editors

According to sources, Facebook has decided to purchase London based startup Boomsbury AI. The news was first reported by TechCrunch’s Steve O’Hear and later confirmed by Facebook. After several allegations of fake news and leaking data of its users, this acquisition by Facebook can be seen as one of its many efforts to combat fake news.

Also read: MEET SIX STARTUPS SELECTED BY UK’S FIRST SPACE ACCELERATOR PROGRAM

Bloomsbury AI is a U.K.-based which is primarily developing AI that reads text documents and answers questions about their contents (called Cape). Users can use Cape on your own documents or website so that users of your knowledge can get immediate answers to their questions. Eventually, the startup wants to be able to answer any question that requires reading better than a human.

“We’re excited to announce that the team behind Bloomsbury AI has agreed to join Facebook in London. The Bloomsbury team has built a leading expertise in machine reading and understanding unstructured documents in natural language in order to answer any question. Their expertise will strengthen Facebook’s efforts in natural language processing research, and help us further understand natural language and its applications,” said Facebook in an official statement.

According to the reports, Facebook would be paying between $23 million and $30 million USD to acquire the AI startup.

Also readSCOOTER STARTUP BIRD RAISES $400 MILLION AT A VALUATION OF AROUND $2 BILLION

In the news