During a recent earnings call, Reddit shared its intentions to trial AI-generated summaries for content displayed on its search result pages. This innovative tool aims to enhance user engagement by allowing individuals to explore the platform's various offerings, such as games, communities, and product showcases. The announcement noted that Reddit has reached an impressive milestone of 342.3 million weekly active users, showing a significant 57 percent growth from the previous year.
At the investor call for the second quarter, Reddit’s CEO Steve Huffman revealed plans for implementing AI in search result displays. This advancement will utilize AI to create concise overviews of user-searched content while also supplying tailored recommendations. Huffman emphasized Reddit's search capabilities, mentioning that its users perform over 1 billion searches each month.
Huffman praised the success of Reddit’s AI-driven translation function, particularly highlighting France for its rapid user adoption. He also confirmed that support for translation in German, Spanish, and Portuguese will be introduced shortly.
This initiative follows the recent acquisition of Memorable AI, a company that employs generative AI technologies to aid advertisers in crafting more effective and captivating advertisements by guiding them in choosing the best text, visuals, and videos.
Additionally, Reddit has established collaborations with major technology firms such as Google and OpenAI to utilize AI technologies and develop new features for its audience. The agreement with Google, estimated at around $60 million annually, permits the search engine to incorporate Reddit’s content into the training of its AI models.
On the other hand, OpenAI now has the ability to use Reddit's Data API to obtain up-to-date content for ChatGPT and its other offerings. This partnership will allow Reddit to harness OpenAI’s extensive language models to create advanced AI features for its platform.