ByteDance has launched Jimeng AI, a new application that converts text prompts into videos. This latest innovation positions ByteDance alongside a growing list of Chinese technology firms diving into the burgeoning AI video market, a space notably targeted by OpenAI with its Sora model.
Jimeng AI, developed by ByteDance's subsidiary Faceu Technology, is now available on the Apple App Store for Chinese users, following its initial release on Android on July 31. This app marks ByteDance's significant step into AI-driven video content creation, a field that has seen rapid advancements and increasing competition from other Chinese tech giants and startups.
The app allows users to generate videos using simple text prompts, offering subscription plans that range from 69 yuan ($9.65) per month to 659 yuan ($92.18) per year. Each subscription level permits the creation of thousands of AI-generated videos and images monthly, making advanced video production tools more accessible to a broader audience.
ByteDance, best known for its immensely popular short video app TikTok, is leveraging its expertise in video technology through Jimeng AI. The app is part of ByteDance's Jianying business unit, renowned for its video editing app CapCut, further solidifying ByteDance's foothold in the digital content creation space.
This launch follows a wave of similar releases by other Chinese companies. Kuaishou, another major player in the video app market, recently introduced its Kling AI text-to-video model to a global audience, making it available in beta version worldwide. Users can register with just an email address, highlighting the ease of access and the push towards global integration of AI video tools.
Startups are also making significant strides in this field. Zhipu AI launched its video-generating model Ying, and shortly after, Shengshu unveiled its Vidu app. These developments underscore the intense competition and rapid innovation within China's AI video market.
The surge in AI video tools reflects a broader trend of Chinese companies investing heavily in artificial intelligence to gain a competitive edge. ByteDance's move to launch Jimeng AI is seen as a response to OpenAI's unveiling of its text-to-video model Sora, although Sora is not yet open for public use. The rivalry between these tech behemoths is likely to drive further advancements and accessibility in AI-driven video production.
For ByteDance, the introduction of Jimeng AI is a strategic effort to tap into a market that promises substantial growth and revenue potential. Subscription-based models for AI tools can significantly enhance the financial performance of tech companies by providing a steady stream of income. This financial boost is critical as companies seek to offset the high costs associated with developing and maintaining sophisticated AI technologies.
