ByteDance: Harnessing Artificial Intelligence for Breakthrough Innovation |
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In July 2017, the State Council of China released the “New Generation Artificial Intelligence Development Plan” which laid out plans to make China a world leader in AI by 2030 with a domestic AI industry worth about US$150 billion. With heavy backing from the Chinese government, many tech companies began investing in AI to make fundamental breakthroughs in product development. One such company was ByteDance whose mission was to build content platforms that would enable people to connect with, consume, and create content using AI technology... |
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| ByteDance’s flagship app, Toutiao, offered curated personalized news to online readers based on their interests and likes. Toutiao’s recommendation algorithm was powered by AI technologies such as data mining, user behavior analysis, and machine learning. The company itself did not create any original content... |
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| Analysts attributed the success of ByteDance’s apps in large part to the AI and machine learning algorithms that delivered customized content feeds to its users. As of June 2019, ByteDance, with a market capitalization of US$75 billion, was the fourth valuable internet company in China after only Alibaba Group Holding Ltd (Alibaba), Tencent Holdings Ltd (Tencent), and Ant Financial... |
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| Analysts attributed the success of ByteDance’s apps in large part to the AI and machine learning algorithms that delivered customized content feeds to its users. As of June 2019, ByteDance, with a market capitalization of US$75 billion, was the fourth valuable internet company in China after only Alibaba Group Holding Ltd (Alibaba), Tencent Holdings Ltd (Tencent), and Ant Financial... |
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| ByteDance planned to increase its team of human censors and improve its technology to screen content. The company also established local content monitoring units in its various markets wherein human censors filtered videos based on local regulations and cultural values. In August 2019, ByteDance launched an updated AI tool to better identify violent and sexual content on Toutiao and raise public awareness against content deemed inappropriate by the Chinese regulators... |
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Exhibit I: Top Social Media Apps Worldwide by Downloads
Exhibit II: ByteDance Products*
Exhibit III: ByteDance AI Research Areas
Exhibit IV: Top Chinese Internet Players (as of June 2019)
Exhibit V: Top Ten Global Unicorns (as of July 2019)
Exhibit VI: Development of Monthly and Daily Active Users of Douyin in China, 2017 – 2019, in Millions
Exhibit VII: Key metrics of ByteDance vs Competitors* (as of December 2018)
Exhibit VIII: TikTok Monthly Downloads in 2018 (United States)
Exhibit IX: Top 10 Short-Form Video Apps in China Ranked by Monthly Active Users (Feb 2019) (in millions)
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