On Tuesday, ByteDance’s cloud service Volcano Engine released a series of cloud products targeting AI startups that need to train large models. Their offerings included a machine learning platform with the added benefit of support for the training of multi-billion parameter models plus the potential for immense computing cost savings up to 70%. ByteDance-the company behind the popular video-sharing app TikTok-shared the news of these developments with Yicai, a Chinese media outlet.
Heading the announcement was Tan Dai – the president of Volcano Engine – who stated that the group will not be developing their own large model, but aiming to help domestic AI startups build options similar to ChatGPT.
ByteDance started as a startup in China in 2012 that specialized in personalized music and video recommendations. With the launch of the TikTok app, owned by the company, their phenomenal growth and exponential reach has enabled ByteDance to become one of the world’s most valuable and competitive technology companies, with branches in more than 30 countries. The company is heavily involved in AI, as well as various other industries such as gaming, news, commerce, and more.
Tan Dai is a Chinese entrepreneur, philanthropist, and investor. He is the founder and president of the Volcano Engine, ByteDance’s cloud service. He served as vice president of operations at Dayima App and introduced artificial intelligence technology and governance systems, as well as growing Dayima into China’s largest women and health-related mobile apps. Tan Dai is also currently investing in AI startups, with a focus on driving AI innovation in the Chinese market.
