TikTok will now outsource its AI tech
TikTok’s parent company, ByteDance, has opened a new division called BytePlus to outsource technology developed for the platform to other companies, according to a report from Financial Times.
This will include TikTok’s recommendation algorithms, real-time filters and effects, automated translations, and vision tech.
The social media channel’s recommendation algorithm is a large part of its popularity and offering it to other companies will bring additional revenue to the business.
Due to TikTok’s fame, ByteDance revenue last year increased 111% to $34.3 billion and its annual gross profit rose by 93%.
BytePlus launched in Singapore last June. It also opened its offices in Hong Kong and London. Its first customers include the Goat fashion app, online shopping company Chilibeli, and travel service WeGo.