TechCrunch has reported that Facebook is acquiring London-based startup, Bloomsbury AI, as part of its efforts to fight against fake news on the world’s largest social network. Bloomsbury’s product is an NLP (Natural Language Processing) technology that helps machines answer questions on information derived from documents.
According to TechCrunch’s sources, Facebook plans to deploy the company’s team and technology to work on combating fake news and to tackle other content issues. The company’s stated goal is for their AI to “[eventually] be able to answer any question that requires reading better than a human.” This is the biggest UK AI acquisition this year, and one of the most interesting since Google sucked up the machine learning powerhouse DeepMind in 2014.
Multiple sources say, the deal is believed to be valued between $23 and $30 million for the Bloomsbury AI acquisition, with a mix of cash and stock. It is a Facebook’s strategy for content moderation, which depends more on technology and automated processes than human decision-making. William Tunstall-Pedoe, who was instrumental in the development of Amazon’s AI-powered digital assistant Alexa, is also an angel investor in Bloomsbury.