These latest stories from the tech space will keep you updated with trends today.
1. China reviews rule on sale of Chinese companies as TikTok struggles with U.S.
China’s newly formulated rule, mandating the government as part of the process to sell companies to foreign associates, has been branded by experts as a lifeline that might prevent the sale of TikTok to any U.S. company, in the pending flex of muscle between the two powerful nations. On Friday, Chinese officials revised rules that govern the sale of certain kinds of technology to foreign buyers. According to the reports, the new regulation covers companies in data processing, speech and text recognition
Analysts, familiar with the Chinese business regulations, have pointed out that “the announcement marked the first time those rules” were revised since 2008. Commenting on the new development, China’s Ministry of Commerce and Ministry of Science and Technology noted, however, that the changes were meant to “formalize the management of technology export” and “protect national security.” With the new grandstanding rule, TikTok or its owner ByteDance would need a written permission and approval from the government to consider the sale of its U.S. arm, a development that might further escalate the existing tension between China and U.S.
Which of the following ecommerce solutions was built by Nigerians?
Answer: See end of post.
2. Apple launches AI/ML residency program to attract niche experts
In expanding its artificial language and machine learning initiative, Apple has launch an interest to attract talents. According to press, the tech gaint is openly seeking to recruit U.S. and European candidates with niche expertise for a yearlong AI/ML residency program. Apple, in its announcement, further promised immersion and mentoring bonuses to talents as they get engaged to advance their careers.
In attempt to explaining Apple decision to undertake the development, analysts noted that the goal was in a bid to find people whose interests aren’t necessarily AI/ML specific. According to these leading analysts, it is to give them (talents) the knowledge and tools to apply machine learning and deep learning to their disciplines. Considering the nature of tech, and its heterogeneous tendencies, the process is expected to widen Apple’s ability to solve users’ problems in those disciplines. Speaking on an ideal candidate for the programme, Apple listed candidates with existing background in fields such as cognitive science, psychology, physics, robotics, public health, or computer graphics.
3. Egyptian DigiFi Network raises pre-seed funding
The managing board of DigiFi Network, an Egyptian startup, has announced raising a pre-seed funding from the US-based Loyal VC to help it scale. The startup, which is a Wi-Fi-enabled platform that helps business owners reach digital audiences more efficiently and affordably, was founded in 2019 by Ahmed Nassef and Mohamed Maher. Reviews revealed that DigiFi allows customers to share their basic profile data with a business owner in exchange for free Wi-Fi at their establishment. Business owners can then use this demographic data to promote their services to the customer.
Although, third party advertisers can also promote push-based advertising to the same customers, the business model only gives the founders owner a share of the advertising spend. As a graduate of the Founder Institute programme in Egypt, the footing was instrumental in facilitating the funding from Loyal VC. Today, DigiFi has over 50 venues in its portfolio and more than 500,000 monthly ad views. Commenting its vision, the startup noted that it hopes to become the biggest data hub for enhancing retargeting campaigns for digital advertisers.
Tech Trivia Answer: Listbuy
Listbuy is a social commerce platform, built by Nigerian techprenuers, that enables small businesses and individuals create and share their online stores, accept payment and allow users ship products to their customers seamlessly, and on the go.
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