The Chinese video-making app TikTok will now show its algorithm, moderation rules, and data sources to regulators. The move comes shortly after TikTok set up a $200 million fund for developers and influencers in the US. TikTok says it strives to become more transparent and accountable by unveiling its algorithm. The business also encouraged other major tech firms to join suit.
TikTok CEO Kevin Mayer in a blog post said, “The entire industry has received scrutiny, and rightly so. Yet, we have received even more scrutiny due to the company’s Chinese origins. We accept this and embrace the challenge of giving peace of mind through greater transparency and accountability. We believe it is essential to show users, advertisers, creators, and regulators that we are responsible and committed members of the American community that follows US laws.”
The TikTok CEO further said the company welcomes a healthy competition calling Instagram Reels a copycat product. He also challenged the short-form app to “bring it on.” Reels is slated to release in the US in August. Mayer said Facebook’s previous video-making tool Lasso was also a copycat product and that it had failed quickly. TikTok has also said that it would offer 10,000 job positions in the US over the next three years. “TikTok has become the latest target, but we are not the enemy,” Mayer said.