Shou Zi Chew Attends LEAP, the Largest Technology Exhibition in the Middle East

LEAP, known as the Middle East’s version of Digital Davos, is one of the world’s largest tech shows held in Riyadh, Saudi Arabia. The event also attracted the participation of well-known Chinese tech personalities, including Tencent’s Tang Daosheng, DJI’s co-founder Li Zexiang, Alibaba’s Yuan Qian, and Wang Xiaogang, co-founder of Shangtang Technology. In addition, many investors and entrepreneurs from all over the world were gathered on site to discuss and exchange the latest news and trends in the tech sector.

On March 6, TikTok CEO Zhou Shouzhi held a conversation on the theme of “Making Global Connections Hotter”, saying “TIK TOK is committed to investing in the next generation and young people, and Saudi Arabia is a very young country where we have many partners. As part of the Vision 2030 program, we are partnering with local Saudi organizations to produce videos and grow each other’s power.” Below is a key summary of the conversation:

1、Innovative content recommendation: emphasized the importance of algorithms in content recommendation and user experience. tikTok combines content and user impressions, using pattern recognition technology to deliver personalized content.

2、Emphasis on user safety: safety is regarded as the core, and product design is used to prevent the spread of harmful content.

3、Technology iteration and community type system: Through continuous improvement of technology, community norms are established to quickly identify and remove harmful content.

4、Elimination of inaccurate information: TikTok is committed to removing inaccurate information from the platform and maintaining the authenticity and objectivity of the information.

5、Machine learning and video creation: Machine learning technology is utilized to provide new video creation tools that require consideration of the contextual background of the content.

6、Emphasis on relationships and user experience: In the digital age, TikTok focuses on healthy relationships and long-term user experience, including use by different age groups.

7、Investment in Saudi Arabia and the Middle East: TikTok is committed to investing in the next generation and young people, working with local organizations to support the Vision 2030 program.

The Middle East is fast becoming a key battleground in the global e-commerce and social media markets. TikTok has grown particularly in this region, supporting local content creators by establishing MCN organizations, which not only improves the quality and reach of content, but also drives exposure and revenue for the platform. Since 2021, TikTok has accelerated its development in the Middle East market, especially in the areas of live streaming and e-commerce.

According to 2022 data, TikTok’s revenue performance in the Middle East has been exceptional, especially in the markets of Saudi Arabia and the UAE.In 2021, TikTok marked its official entry into the live streaming e-commerce track with the launch of TikTok Shop in Indonesia. This strategy is rapidly expanding into the Middle East, as this region has become one of the fastest growing e-commerce markets in the world, leading the way especially in terms of internet penetration.

ByteDance’s presence in the Middle East market is not limited to the TikTok platform. As early as 2021, the company invested in iMile, a Dubai-based e-commerce logistics company dedicated to solving the challenges of e-commerce logistics in the Middle East. Meanwhile, other international e-commerce giants such as Alibaba, Jingdong, Amazon, eBay, and Pinduoduo’s Temu are also actively laying out the Middle East market, and a battle of e-commerce giants is about to start in the Middle East.

News source: https://equalocean.com/news/2024030720585