TikTok's AI is now being sold to other companies
ByteDance, which is the parent company of TikTok, has reportedly started selling the AI technology of the short-video making app to other companies.
According to the Financial Times, the company has launched a new division called BytePlus, and its sole purpose is to sell TikTok's technology to third parties. Its client list already includes US fashion app Goat, Singapore travel site WeGo, Indonesian shopping app Chilibeli, and India-based social gaming platform GamesApp.
BytePlus offers customers the chance to access the recommendation algorithm, and personalise it for their apps and customers. It also offers automated speech and text translation and real-time video effects as well as data analysis tools, according to its website.
TikTok’s recommendation algorithm is a huge part of what has made it so popular. The company explained in a blog post last year how its ‘ForYou’ feed determines what videos to serve a given user. Its recommendations are based on user interactions including which videos you like, share comment on, or create; video information, such as captions and hashtags; and device and account settings including what device you’re using, your language preferences, and your location settings.
Disputes over the video app
Over the past year and a half ByteDance and TikTok were among the China-based companies targeted by a series of executive orders from former President Trump, that sought to block China-based apps from US app stores. President Biden signed an executive order in June revoking the bans. Despite the pressure from the Trump administration, TikTok surpassed 100 million monthly users in the US last year.
The Indian government banned several apps developed by Chinese firms in 2020, including TikTok, over concerns that these apps were engaging in activities that threatened the national security and defence of the country. Last month, Nikhil Gandhi, the India Head of TikTok decided to quit.
ManageEngine Survey Finds Global AI Use Increase
ManageEngine, the enterprise IT management division of Zoho Corporation, has announced results from its recent market study, The 2021 Digital Readiness Survey, finding that 86% of organisations worldwide are using artificial intelligence (AI) more than they did two years ago. However, only 35% of the global respondents reported that their confidence in the technology has significantly increased.
The focus of the study was to understand technological changes in a post-COVID world, in areas such as remote work, security, business analytics, and AI. It was found that organisations worldwide mainly increased their use of AI to improve business analytics (63%), increase operational efficiency (62%) and enhance the customer experience (60%). While a majority of global respondents (94%) believe that AI will meet business expectations—and 65% stated AI had delivered measurable business results—some fears remain around the technology’s performance.
“The potential for AI to improve business efficiency and the customer experience was firmly on show through 2020, with AI handling everything from increased customer service volumes to oversight of self-service processes,” said Rajesh Ganesan, vice president at ManageEngine. “While AI is being handed more responsibility and is applied in more business-critical use cases, our research shows this is a double-edged sword and that more work is needed to embrace the technology and lift internal capability to ensure AI achieves its promise.”
Is business analytics the key to success?
The growing use of AI coincides with a broader trend of using analytics to improve the use of available data and the speed and accuracy of decision-making. In the post-pandemic era, profitability and competition are also driving organisations across the world to invest in business analytics platforms and capabilities.
Business analytics is an umbrella term for several types of analytics—descriptive, diagnostic, predictive and prescriptive.
The biggest user of business analytics by far is IT. An average of 63% of IT departments worldwide cited this in the survey. However, in North America, 67% of executives noted their use of business analytics, which was higher than their IT departments’ use (61%). Business areas such as marketing, sales, human resources, operations and R&D are also showing interest in business analytics but are well behind IT and executives on adoption and actual use.
Other key global findings of the survey
– A mighty 96% of organisations are planning to continue supporting remote workers for the next two years. Concerningly, the report also found that 84% of IT professionals believe that remote workers have increased their enterprise’s security risk.
– More than half (56%) of respondents stated that improving their security infrastructure is a key driver of adopting new technologies.
– 78% of organisations revealed that remote workers download software without obtaining approval from the IT department; this shadow IT mainly included mobile-specific applications (40%), online meeting tools (38%) and document sharing solutions (31%).
– 84% of respondents use more cloud services now than they did before the pandemic began. However, most respondents believe that improved security (56%), performance (52%) and reliability (51%) would increase their company’s confidence in cloud-based solutions.