Oracle/Walmart: TikTok provisional US government approval
In an announcement made by Oracle the company has reported a provisional agreement with the US government to resolve outstanding TikTok issues. As a result Oracle and Walmart - together - will acquire 20% of the TikTok Global business.
As part of a recent deal, TikTok has established a new company known as TikTok Global. This company will provide all services to users in the United States, as well as most users in the rest of the world.
Following the establishment of TikTok Global the company will be an independent American company, that is majority owned by America. In addition the Board of Directors will have four American members out of the total five, and all TikTok technology will be in possession of TikTok Global, following US laws and privacy regulations.
In the recent announcement made by Oracle, the administration has conditionally approved a deal in which Oracle will become the provider of secure cloud to TikTok. As part of the deal, Oracle will provide data privacy to 100mn American users by moving all data to its Generation 2 Cloud data centres.
Oracle’s Generation 2 Cloud works to eliminate the risk of foreign governments spying on or influencing American users, with its full isolation of running applications and its autonomous response to security threats.
In addition to Oracle providing secure data privacy, Walmart aims to not only provide its equity position, but its omni-channel retail capabilities too, including: Walmart.com, eCommerce marketplace, fulfillment, payment and measurement-as-a-service advertising service.
By establishing TikTok Global in the US, the company is expected to create 25,000 jobs, and will pay over US$5bn in new tax dollars to the US Treasury.
Alongside Oracle, SIG, General Atlantic, Sequoia, Walmart and Coatue, TikTok Global has plans to establish an educational initiative that is artificial intelligence (AI) diven. The online video curriculum will teach children a variety of educational subjects including: reading, maths, science, history, computer engineering and more.
Image source: TikTok
Intelliwave SiteSense boosts APTIM material tracking
“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.
We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.
Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate.
With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.
There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.
Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture.
It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.
Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.
On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.
As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.
A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.