TikTok Goes On The Offensive To Explain How It Has Helped American Businesses As Threat Of US Ban Looms

TikTok is trying to do whatever it can to ward off the threat of a potential ban of the app in the country.

The latest we know so far is how the platform’s CEO was given the chance to testify in front of the Senate and justify why TikTok should still continue with its operations in the country.

But despite its efforts, we’re not quite sure if that is ever going to be enough to convince US lawmakers that a ban is not needed, considering the fact a lot of them have already made up their minds.

It seems like the company has entered the offensive and is still very optimistic about it.

So many key partners are being dealt with in a similar way by the company. They’re holding meetings to give the assurance that despite the gloomy situation, things will work out for the better.

A lot of emphasis is similarly being put on making others realize that TikTok has really come far in terms of providing assistance to the American population. The app says turning Americans’ hobbies into something of a business really shows how keen it is to make them earn revenue and achieve brand growth during financial crunch situations.

But the concern of having potential links with the Chinese is one that is of the most concern. It’s hard to dispel the assumptions of the American government that data is and was shared with the officials in that nation, without taking the consent of users.

Clearly, desperate times call for desperate moves, and in the past week, the app has really doubled its range of stories regarding the benefits it has had on the American economy, and losing it could affect the country big time.

Furthermore, the app’s CEO recently published two more videos through the platform’s main channel. He called the app’s users to come forward and assist in persuading the local reps in the country and lobbying them toward making a decision that would help save this app.

And by the looks of his desperate calls, we feel that this might be a hint of how close the US is toward banning the platform. The goal seems to sway people in the right direction and we’re not too hopeful that this is the way to do it.

Whatever the case may be, only time can tell if the ban is coming or not. And until then, we’re just going to have to sit and watch in silence while the company scrambles in utter chaos and desperation.

Meanwhile, internal reports from Digiday did reveal how the company is similarly carrying out meetings with important advertising partners to show them more information and concerns about the platform.

It appears to be a part of the five-page long document that talks about TikTok providing key information regarding the platform and how it currently works under the management of both the US and Singapore.

Read next: Does America’s TikTok Ban Spell the End of the Open Internet?
by Dr. Hura Anwar via Digital Information World

Global App Market Displays Signs Of Resiliency Despite Economic Headwinds, New Research Proves

The global mobile app market is booming as per recent statistics proven by new research.

It’s quite clear that consumers are in no mood of joking around in terms of various apps being launched. The news comes as Q1 for 2023 comes near to a close and that’s where this study highlighted some key trends that viewers may have missed.

As per the study, today’s global app market continues to display some huge signs of resilient behavior. And when you consider how unpredictable the current economic situation is at this moment in time, the industry deserves all the more credit.

Mobile users are predicted to spend more funds across various app stores during this first quarter of 2023. It’s very different from what you might see in other quarters with record figures going as far as $33 billion.

But the past has proven to us how trends are not always positive as seen in the previous Market Pulse Report for their third quarter of 2022.

There was a huge decline YoY during this time. And we can safely conclude that this might stand for a correction in Q1 of this year. Moreover, it’s interesting how it's getting shared through two mobile formats, both iOS and Google Play. The former saw a 4% year-on-year growth while the latter witnessed a great 6% growth.

After that, you saw iOS produce $21.7 billion while Google Play grossed nearly $12 billion.

When you compare that to Apple users, they’re really spending so much more money than Android users. Moreover, iOS was seen accounting for 65% of the total app store outlays with this figure getting higher in non-gaming applications.

iOS represents a staggering 71% share. So as you can tell, this sector is really getting support from the huge demand for subscriptions on the app with the sudden emergency of popular apps that make use of them including Calm.

As far as which categories were seen making it bigger than usual, the answer is Gaming, Entertainment, and Social had people spending the most on them. Moreover, both Editors and Video Players including House and Home as well as Health and Fitness had big QoQ growth of between 20 to 21%.

When compared region-wise, it’s countries like the US, South Korea, and Japan that had consumers spending the greatest number of resources.

This rise in consumer spending for this quarter comes with slow and steady growth in terms of downloads. As a whole, consumers are downloading 38 billion apps in this quarter of 2023 and that’s second to what we saw in Q3 of 2022.

Furthermore, the study revealed how the biggest rise took place on the likes of iOS which saw installs rise 12% YoY to nearly 9 billion.

As expected, the applications which led the market in terms of spending included those that are deemed to be the most popular among users today. And no surprise here to guess that ByteDance’s TikTok cemented its lead. Similarly, the Chinese parent firm’s CapCut even made it big too as people spent the most on both these platforms.

H/T: DataAI

Read next: Global Consumer Spending Grows Thanks to Entertainment Apps
by Dr. Hura Anwar via Digital Information World

Global Consumer Spending Grows Thanks to Entertainment Apps

Consumer spending has seen a lot of lows recently, and that is thanks in no small part to the global pandemic. In spite of the fact that this is the case, the years after the pandemic have seen an uptick in consumer spending. While developed countries are still struggling to keep the pace, developing nations and emerging markets have ensured that the growth rate is higher than might have been the case otherwise.

With all of that having been said and now out of the way, it is important to note that global downloads saw huge boost due to the pandemic. While the rate of downloads has slowed, it still sits at a far higher number than what was seen prior to the emergence of Covid-19. Africa is looking to be a major player, with its relatively young population set to make the continent a massive market in the next few years or so, as per ST data.

However, one concerning statistic involves a drop in consumer spending on Android apps. In-app purchases and other forms of consumer spends have gone down by 7% year over year. That is largely due to Apple’s anti tracking policies along with inflationary pressures that are hitting consumers in the wallet with all things having been considered and taken into account.

Despite so many headwinds, consumer spending prospects are continuing to look up. Entertainment apps are coming to the fore, with apps like TikTok and YouTube driving a lot of growth in this sector. That suggests that entertainment apps will be an even bigger focus in the coming years, and considering how important Africa is about to become, it stands to reason that the continent will be responsible for a lot of the decisions that are made down the line.

Much of the digital ad spend is going towards TikTok, and that has led to record breaking numbers for the Chinese social media platform. Brand spending is decreasing, but the prospects for 2023 are looking up as brands hope to increase spends after inflationary pressures begin to subside. That will leave TikTok well poised to take over the industry over the next decade.

Read next: Only One Out of Five Consumers Who Installs Financial Platforms, Join Up in The Starting Seven Days
by Zia Muhammad via Digital Information World

AI-powered Language Models Could Disrupt Job Markets, Study Reveals

The rise of artificial intelligence (AI) and machine learning has brought forth a new era of technological creation, converting various aspects of human life. However, a new study suggests that AI-powered language models such as GPTs (Generative Pre-trained Transformers) could have far-reaching importance for the labor market, potentially disrupting industries and rendering many jobs obsolete.

According to the analysis, approximately 19% of employees in the USA can do 50% of their work with the help of such technologies. Further, it also highlights that these models hold the potential to automate a broad range of tasks that are currently performed by humans, including data entry, customer service, and blockchain. This could lead to significant job losses and unemployment in several sectors, particularly in developing countries where labor-intensive jobs are prevalent.

GPTs are deep learning models that use vast amounts of data to generate human-like language responses. They have already been employed in various fields, including natural language processing, chatbots, and predictive text. They have also been used in language translation services and content generation for marketing and advertising purposes.

However, the study suggests that the widespread use of Artificial Intelligence models could lead to unintended consequences. As companies increasingly adopt AI-powered language models, they may replace human workers with them due to their speed, efficiency, and cost-effectiveness. This could have significant economic impacts, particularly in countries where jobs are already scarce.

The news also suggests that the displacement of jobs by GPTs could exacerbate existing social and economic inequalities. The most vulnerable populations, including women, people of color, and low-skilled workers, are likely to be the hardest hit by the automation of jobs. This could lead to a widening income gap and further entrench poverty and social exclusion.

Furthermore, the rise of AI-powered tech is also expected to boost the demand for highly skilled workers in fields such as data science, computer engineering, and artificial intelligence. This means that workers who lack the necessary skills and education to work in these fields may struggle to find employment in the future, further widening the skills gap and exacerbating inequalities.

However, some experts argue that the rise of AI and machine learning could also create new opportunities for workers. As certain jobs become automated, new jobs may emerge that require a different set of skills, such as data analysis and programming. This could lead to the development of new industries and the creation of new job opportunities.

Read next: 7 Types of Artificial Intelligence (AI) You May Not Know About
by Arooj Ahmed via Digital Information World

Scammers Are Offering Fake Shein Gift Cards to Instagram Users

Social media is full of scams, and the most recent scam of all has to do with a popular clothing brand by the name of Shein. Researchers at Avast have found that users from Australia, the UK, Spain, Poland and France along with many other countries have been targeted by scammers with all things having been considered and taken into account.

The initiation of this scam involves a comment being left on a user’s Instagram post. The scammers state that the user is one of a few lucky individuals that are eligible to receive a gift card from Shein in 2023, and that makes victims more susceptible than might have been the case otherwise.

The comment offering the gift card contains a link, and with all of that having been said and now out of the way it is important to note that this link is very dangerous to click on. If you were to go to the link, you will be asked to fill out a survey. Comments from other supposed winners are also shown because of the fact that this is the sort of thing that could potentially end up making the scam seem more legitimate.

Interestingly, there are no right or wrong answers here. Regardless of which answers you end up picking, you will be offered the gift card once all is said and done. Users are then asked to pay a small postage fee so that they can receive the gift card, and that is where the scam starts to become apparent. The amount is neglible, with just £2 to £5 being requested, and the currency changes based on the user’s country of origin.

Of course, the whole point of this scam is to get thousands of users to give a few dollars each. The scammers won’t have to provide anything in return, and the amount is so small that many users might just forget about it or avoid dealing with it.

Users need to be educated about these scams. Shein will definitely want to take a look at this, since it can wreak havoc with their brand image.

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by Zia Muhammad via Digital Information World

AR/VR Headsets May Heat Up Until 2027 despite This Year's Slower Growth

Since its launch in 2016, augmented and virtual reality headset sales have risen rapidly.

According to analysts at IDC, the market for augmented and virtual reality (AR/VR) headsets will grow less rapidly in 2023 than anticipated. The company forecasts 10.1 million headset shipments globally this year, up 14% from 2022. Nonetheless, the estimated 32.6% cumulative annual growth rate (CAGR) for 2023–2027 indicates that demand may rise in the next few years.

The epidemic has significantly influenced the education sector, where remote learning is now standard practice. Students who want to learn new information and interact with classmates in an immersive fashion are more interested in AR/VR technology.

Gamers also use AR/VR headsets for gaming as they search for more immersive experiences beyond conventional controller-based gaming systems. VR headsets give consumers a more lifelike gaming experience thanks to increased graphics and sound quality.

Furthermore, businesses are also starting to explore how AR/VR technology can be used for training purposes or even as tools for remote collaboration between teams in different locations worldwide. It could open up opportunities for headset makers who can provide solutions tailored towards such use cases.

Overall, while the current economic conditions are suppressing demand for AR/VR headsets, there is potential for growth in the coming years if manufacturers can create products that meet customer needs both from a price point and features perspective.

As we head into 2024, virtual and augmented reality technology improvements are expected to continue despite the challenging economic environment. While several consumer-facing firms, like Xiaomi, Oppo, and TCL, intend to increase awareness of augmented reality over the next 12 to 18 months, Sony's debut of their PSVR2 system will be a significant step forward for VR adoption.

However, because of the difficult market conditions, standalone VR headsets might see certain growth limitations. The demand for standalone VR headsets increased during the lockdowns of 2020 and 2021 as individuals looked for ways to pass the time at home. It created an unfriendly climate for comparable growth rates in 2022; instead, IDC forecasts that tethered VR and AR headsets will be more successful due to sluggish sales numbers this year.

Furthermore, the development of 5G technology has enabled wireless VR capabilities. The new tech will reduce latency and provide more immersive VR headsets experiences. It could be a powerful catalyst for the wider adoption of virtual reality headsets in 2022, as it makes them easier to use and sets them apart from their tethered counterparts.

The year 2022 is shaping up to be crucial for virtual reality and augmented reality applications, with many industry insiders seeing a boom in usage mostly because of the developments in 5G technology. To capitalize on this technology, businesses will probably release new VR and AR goods, while existing hardware producers will focus more on enhancing the headgear experience.

Read next: According To The Recent Survey U.S. Ad Market Struggles for Eighth Month in a Row
by Arooj Ahmed via Digital Information World

6 reasons why blockchain companies need PR services

As with any business hoping to achieve success, blockchain companies need PR services to stand out from the competition and position their brand.

And these aren’t the only reasons to use blockchain PR strategies. Other important aspects impact this need in Latin America, as we’ll see in this text. But first, let’s look at what blockchain is, and how it has impacted the Latin American market.

What is Blockchain?

The clue is in the name. Blockchain unites the words “block” + “chain”. Virtual currency transactions are recorded in batches, known as blocks, and stored in the blockchain.

Each block has a unique mathematical code, called a hash, which serves as its fingerprint. The blocks are linked together in chronological order, forming a chain of blocks that creates an unbreakable and trustworthy record.

With advanced authentication and security features, combined with easy integration in a number of scenarios, blockchain technology offers great potential as a reliable alternative.

Blockchain in Latin America

Cryptocurrency adoption is growing rapidly in Latin America. Brazil has taken the lead in the region and is ranked 5th globally.

The country received close to $150 billion in cryptocurrencies last year, ahead of other Latin American countries like Argentina (ranked 13th), Colombia (15th), Ecuador (18th) and Mexico (28th) in the Chainalysis global cryptocurrency rankings.

Trust in blockchain technology varies by country and demographics, but generally speaking, it is growing in the region as more people become aware of its potential benefits and use cases.

Latin America stands out due to its embrace of blockchain technology. One possible reason for this is a lack of trust in traditional financial institutions.

Argentina

In Argentina, approximately 1.3 million people already use cryptocurrencies, and the country ranked 10th in the 2021 Global Cryptocurrency Adoption Index by Chainalysis.

Brazil

In Brazil, cryptocurrency adoption has skyrocketed, increasing from 2 million people to 10 million in 2022. It is estimated that 4.9% of the Brazilian population owns cryptocurrencies, and the country is quickly joining the Web3 revolution with a growing interest in NFTs.

Colombia

Colombia currently has 60 cryptocurrency ATMs in operation, the most of any Latin American country according to CoinATMRadar. In addition, the 2020 Statista Global Consumer Survey found that over 15% of Colombians have used or owned cryptocurrencies.

Cryptocurrency regulation is becoming more favorable in the country, with the government taking steps to reduce the regulatory gray area.

El Salvador

El Salvador became the most supportive blockchain ecosystem in Latin America in 2021, with the creation of a Bitcoin Law making it the first country to accept cryptocurrency as legal tender.

The country has 52 Bitcoin reforms currently under review, solidifying its regulatory leadership in the Latin American blockchain ecosystem.

Panama

Panama, Costa Rica, Brazil, and Paraguay are among the other countries exploring friendly regulations for Web3 builders. In Panama, regulations are expected to pass later this year, while Brazil is discussing a bill for cryptocurrency operations in Congress and offering tax incentives for the mining industry with the use of renewable energy and carbon offsetting.

Costa Rica & Paraguay

Costa Rica lets employees receive wages in cryptocurrencies, and companies receive payments in them, while Paraguay is moving towards regulating the industry with legislation for virtual asset providers, cryptocurrency mining and tokens.

Venezuela

Venezuela has its own cryptocurrency, Petro, and has a dedicated governmental department for regulating cryptocurrencies in the country, Sunacrip. In Venezuela, users need a license to mine or trade crypto.

6 reasons why blockchain companies need PR services

Last but not least, here are some of the many reasons why a blockchain business should seek to hire PR services. PR can:

Differentiate

Help companies stand out from their competitors by highlighting their unique value proposition and market positioning, in order to gain prominence and trust among target audiences in this new market, which still arouses great distrust among Latin American consumers.

Increase visibility

Increase the visibility of blockchain companies by amplifying their message to a wider audience, via media outlets and other communication channels.
Build credibility

Build credibility by providing a third-party endorsement of their products, services, and values.

Manage reputations

Manage a company's reputation by controlling the spread of negative information and promoting positive stories.

Educate

Educate the public about the benefits and uses of blockchain technology, which is still a relatively new concept for many people.

Build relationships

Build relationships with key stakeholders, including investors, customers, and partners, by promoting the company's message and achievements.

Final Thoughts

Every company looking to stand out and stay competitive in the market needs the assistance of a PR agency. PR agencies can define specific strategies for any business, aimed at the audience they want to reach, and help position blockchain companies as leaders in this space while increasing their competitiveness.

In Latin America in particular, blockchain companies need PR services due to the region's rapidly growing market for blockchain-based solutions and its growing need for transparency and trust in financial transactions.
by Web Desk via Digital Information World