In a move that could be huge for the technology stock, Meta (META) has reintroduced a key feature as its stock price nears an all-time high. Indeed, the company announced that it is bringing back facial recognition to Facebook and Instagram as it looks to combat fraudulent activity connected to celebrities on the platform.
The feature is making a return after first being abandoned three years ago. Moreover, it arrives amid a key time for the companyβs stock value. One of the most recognizable brands in the social networking space, it is on the hunt for increased revenue sources amid its growing spending. All of which should be addressed in the upcoming Q3 earnings report to be issued next week.
Source: Washington Monthly
Also Read: Meta Stock Target Gets Boost as Q3 Looks to Build Off 2024 Success
Meta Stock Looks to Set New Record as Facial Recognition Makes a Comeback
within the ever-evolving tech sector, few massive corporations have taken as many risks as Meta. Although they havenβt all paid off, the company is always looking to craft a presence within the newly developing industry. Its Metaverse platform failed to pay off, but it quickly bounced back with its Orion augmented reality glasses.
Those moves have maintained investor belief in the stockβs value. Moreover, Meta has announced it is reintroducing a key tech feature as its stock nears an all-time high price. Specifically, both Facebook and Instagram are set to combat celebrity-related scams with facial recognition technology.
Source: Smartprix
Also Read: GOOGL vs. META: Which AI & Big Data Stock Will Have a Better October
The tech is being rolled out this month, with a starting sample of 50,000 celebrities worldwide. A Yahoo report notes that these individuals will be able to opt-out at any time, with the system being triggered when Meta AI believes a scam ad is being utilized or developed.
This decision falls in line with Metaβs continued technological advancements across social media platforms. It could pay off big this earnings season. Although revenue is still a problem, its overwhelming investment in AI to coincide with rapid demand could be critical in boosting the stockβs value. Moreover, it could have META eyeing a return to the $595 all-time high it hit earlier this month.
