Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Reddit rolls out AI chatbot to enhance search on platform

Published 09/12/2024, 14:14
© Reuters.

Reddit (NYSE:RDDT) Inc. introduced a new AI-powered chatbot feature named Reddit Answers, aiming to improve the search experience for its users. The social media company is working to keep users engaged by simplifying access to over 1 billion posts and discussions on its platform. Reddit Answers will assist users in finding information, making recommendations, and surfacing relevant forum discussions.

The initiative is part of Reddit's broader investment in enhancing its search capabilities to compete with traditional search engines and AI companies that summarize web content. Previously, users often turned to third-party search engines like Google (NASDAQ:GOOGL), adding "Reddit" to their queries to find posts on the site. In fact, "Reddit" ranked as the sixth-most searched word on Google in the US this year.

To counter external AI tools summarizing its content without directing traffic back to Reddit, the company has started to block certain search engines from accessing its forums unless they enter commercial agreements. Reddit has already established licensing deals with Google and OpenAI, allowing summaries of its posts to appear in search results and ChatGPT, with agreements worth $203 million over the next two to three years.

The new chatbot, powered by AI models from Reddit, OpenAI, and Google, is part of a growing trend among social networks to include chatbots to maintain user engagement. For example, Meta Platforms Inc (NASDAQ:META). integrated a Meta AI chatbot across Facebook, Instagram, and WhatsApp, boasting 600 million monthly users. Other companies like Elon Musk's X with its Grok chatbot and Snapchat have also adopted similar AI features.

Reddit Answers is initially rolling out to a select group of users in the US on the web and iOS platforms. The company plans to expand the chatbot's availability to more languages and locations in the future. This conversational tool is designed to provide users with quick, curated summaries of related content, offering a more direct and efficient way to navigate the vast array of discussions on Reddit.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.