Facebook shares closed higher in the US Tuesday, after the social media platform shared key details in a call over its plans to tackle fake news and accounts, particularly amid election periods around the world.
The tech giant said it is employing a range of tactics, including artificial intelligence, to minimise bad actors’ ability to influence public opinion.
Facebook shares ended the US Tuesday session 1.78% higher at $214.67. The stock is also higher in after-hours activity.
Facebook scrutinises content
Facebook unveiled its increased efforts at limiting fake news on its site, ahead of the US mid-term elections that will take place in November. The platform has been heavily criticised for just how much political propaganda has been shared on it, in targeted campaigns.
“In the first half of this year we’ve done some more work all around the world like in Italy, Colombia, Turkey, and even the primaries for the US midterms,” said Facebook’s head of civic engagement, Samidh Chakrabarti.
“Using machine learning we’ve gotten more effective at either blocking, or quickly removing fake accounts. And that’s important since they’re often the root of a lot of the bad activity that we see on our platform. And we’re now at the point that we stop more than a million accounts per day at the point of creation,” he added.
Data privacy and Q2 earnings
This latest update on its increased efforts to sanitise the information that propagates across the platform, comes ahead of the tech firm’s latest earnings update. Facebook will publish its Q2 earnings figures after the US Wednesday trading closing bell.
The figures will be even more closely scrutinised than usual, in the wake of the Cambridge Analytica Scandal, to see how its user growth numbers have held up.
In addition, the company outlook will be of interest to investors too, to see just how much investment Facebook thinks it will take to consistently remain on top of the fake user and news that has recently come to light as a major issue for users.