FB acquires visual shopping start-up to bolster AI work
Facebook Inc said it acquired visual shopping and artificial intelligence (AI) start-up Grokstyle Inc. in a move to bolster the social-media company’s own AI work. Grokstyle’s technology, which was integrated into Ikea’s mobile app, was simple in practice. A user takes a picture of a piece of furniture and the technology would match it to similar products that could be purchased online. On its website, Grokstyle said it is “winding down” its business, but that it is “moving on as a team” along with its technology. The company didn’t disclose it’s joining Facebook.
Harry Potter-inspired crypto function sends prices levitating
Cryptocurrency prices appear to be getting a magical bump from optimism over a software privacy function known as Mimblewimble, which is named after a Harry Potter spell that stops people from revealing secrets. Litecoin, the fourth-largest digital asset as measured by Coinmarketcap.com, jumped as much as 36% on Friday in the wake of a report that it may incorporate the protocol to improve privacy and scalability. The digital token slumped almost 90% last year. Bitcoin gained as much as 10%, while Ether jumped as much 18%.