Facebook All Set To Predict Whether You Are Rich Or Poor!

Facebook All Set To Predict Whether You Are Rich Or Poor!

-Facebook already knows a lot about us, but it could soon be able to guess your income if a newly patented technology ever comes to fruition.

Facebook already knows a lot about us, work, friends, social life etc. Now in a very futuristic step, it will be able to detect our socio-economic status. Yes whether you are rich or poor!

The social media giant, Facebook wants to build a system that collects users’ personal data, such as education, homeownership and internet usage, in order to predict their socioeconomic status.

The filing suggests an algorithm that may help improve Facebook’s targeting capabilities so that it can serve up more relevant advertisements to users.

Facebook already knows a lot about us, but it could soon be able to guess your income. That is if a newly patented technology ever comes to fruition.

The patent was effective on July 27, 2016, but came to light on Thursday.

The filing suggests an algorithm that may help improve Facebook’s targeting capabilities so that it can serve up more relevant advertisements to users.

A decision tree starts by asking what the user’s age is. And, from there, asks a question that would be seemingly relevant to that user’s age group.  In the filing, 20 to 30-year-olds are asked how many internet devices they own. Meanwhile, 30 to 40-year-olds are in question whether or not they own a house. Other information that’s considered is a person’s travel history, what kinds of devices the user owns, how many internet connected devices they own. And also what their highest level of education is. At the bottom of the decision tree, a question asks ‘What is the probability that the user is in the middle class?’

Facebook Socioeconomic Patent

Pictured, a decision tree begins classifying users based on their age. From there, it asks a series of questions based on age group, such as ‘Does the user own a house?’

The patent notes that, generally, a user’s socioeconomic group is close to a user’s income.

But unsurprisingly, Facebook acknowledges that users might not be comfortable offering up how much they make per year.

‘Online systems often do not have information about the income of users. For example, because there is no typical inclination of users to share income information. Which may be sensitive information, on online systems’. The patent states.

So instead, Facebook is side-stepping questions about income and using other personal data to make conclusions on its own.

It not only uses data supplied by users on the platform but can also refer to ‘actions performed by the user on Facebook.’

‘By predicting the socioeconomic groups of users, Facebook is able to help the third party present sponsored content to the target users’. This info is correct according to the patent.

‘Third parties are able to effectively promote their products or services, and the online system can provide a more engaging user experience to users’. The filing notes.

Facebook would use the decision tree to group users into three classes – working class, middle class or upper class.

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