ByteDance Ltd., the parent company of TikTok, is preparing to release Seedance 2.1, an updated version of its AI video generation model, with a reported 20% improvement in generation quality over the current 2.0 version, according to sources familiar with the matter. The upcoming release underscores ByteDance's ambitions in the rapidly expanding generative AI video space, where competitors include OpenAI's Sora, Kling AI, and Runway's Gen-3 Alph…
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