Facebook Now Has A Wealth Algorithm
The social media giant wants to understand which socioeconomic bracket you fit into, and has filed a patent to allow this.
A new Facebook algorithm has been invented, allowing the social media giant to understand which socioeconomic bracket you fit into - according to what you post.
The algorithm starts with your age, then moves deeper. It will use information such as the places you’ve travelled, the amount of devices you have connected to the internet, and your education level to generate an estimate of your yearly earnings. Once this has all been recorded, the algorithm decides which socioeconomic group you fit into.
Facebook stated that they’ve developed the algorithm as an advertising tool to create targeted advertising and increase awareness about products and services.
They patented the idea back in 2016 but it only surfaced recently - when the patent was published.
We often forget just how much information we feed to Facebook, so it’s lucky for us that the algorithm is currently just a patent. Although there is no way of telling when Facebook will roll it out, if they ever do.
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