Reddit to test AI-powered search result pages
It'll make finding and interacting with content easier for users.
It seems Reddit is jumping onto the bandwagon of integrating AI into its search, joining the AI-generated summary train with Google and Microsoft.
During its earnings call on Tuesday, Reddit co-founder and CEO Steve Huffman mentioned that the company plans to test AI-powered search result pages to “summarize and recommend content” for users to easily discover and explore Reddit communities.
This integration isn't surprising, seeing that Reddit partnered with OpenAI in May to leverage its large language models for building AI-powered features, and its recent acquisition of the AI startup Memorable AI to boost ad performance on the platform. Reddit will use a combination of first-party and third-party technology to power the feature, and the experiment will commence later this year.
Notably, in the second quarter, Reddit reported 342.3 million weekly active users, a 57% increase from last year. Revenue also climbed to $281.2 million, beating Wall Street's estimate of $253.8 million. The company has been significantly doing well this year, and with the adoption of AI technology, an outstanding performance can be expected.
Huffman also hinted at finding new ways to make money outside of ads, mentioning the possibility of introducing paywalled subreddits to monetize its features.
