Meta Platforms (META) has set its sights on further AI growth with the introduction of facial recognition testing in the U.K.
Stop Online Scams
Following the approval of regulators in the U.K., Meta will now roll out tests of its technology to first stop online scam ads based on the likeness of famous people and second to help users get back into compromised Facebook or Instagram accounts.
Meta has, according to a report in TechCrunch, been somewhat lax in its recent attempts to stop scammers from misappropriating famous people’s faces to sign up to ad scams such as too-good-to-be-true crypto investments. It has also hurt them in the pocket, including a $1.4 billion payout last year to settle a lawsuit around the use of biometric data collection related to facial recognition. Investors seemed to like their vision today, however, with Meta stock up slightly.
Part of the AI Race
But in its drive to lead the way in the AI race across a range of consumer and business sectors, Meta has its eyes firmly on its goal. “In the coming weeks, public figures in the U.K. will start seeing in-app notifications letting them know they can now opt in to receive the celeb-bait protection with facial recognition technology,” Meta said in a statement.
There are no indications of who these “public figures” are, but for the rest of the hoi polloi, Meta’s new “video selfie verification” will be available as optional tools.
Last October, Meta announced that its new tests were being run globally; however, the U.K. and the European Union were not on the list given data protection rules. The U.K.’s own AI vision has seemingly erased some of those concerns, but what now of the EU? Watch this space, as Meta might say.
Is META a Good Stock to Buy Now?
On TipRanks, META has a Strong Buy consensus based on 44 Buy, 3 Hold and 1 Sell rating. Its highest price target is $935. META stock’s consensus price target is $764.61 implying an 19.47% upside.
