South Korea’s telecommunications giant KT Corporation has announced detailed plans to expand its investment in artificial intelligence (AI) after recording early success.
The company, formerly known as Korea Telecom, has said it intends to invest 7 trillion won ($5.3 billion) in AI research and development within five years. The plan was unveiled at a press conference in Seoul, where management set its sights on several areas.
KT Corporation will explore the use of AI in robotics, customer care, education and healthcare. In a show of strong ambition, the company plans to have AI sales surpass his KRW 1 trillion ($764 million) by the end of 2025.
KT Corporation said in a statement that it would explore potential partnerships with key players in the industry to achieve its lofty ambitions. During the conference, KT Corporation Vice President Song Jae-ho announced a partnership with Singapore’s telecom giant Singtel to design a first-of-its-kind AI transportation platform.
“As Korea’s leading AI company, KT will apply the experience, capabilities, infrastructure, and know-how that we have accumulated so far to our AI business, and establish ourselves as a customer-oriented AI service provider,” Sung said. Stated. “We will do our best to improve the competitiveness of the AI industry in Korea and KT’s future growth.”
In addition to partnering and investing in R&D, the company is also eyeing the development of a rich AI ecosystem called “AI Full Stack.” The plan calls for the launch of a range of products, including AI semiconductors and cloud services, to meet the needs of companies building around AI.
KT Corporation wants to expand on its existing innovations and is investing specifically at the intersection of AI and robotics. In the healthcare field, we plan to provide a remote care service and an AI food tag for meal management that can recognize more than 2000 meals.
Korea Prepare for AI
While private sector AI development is heating up in South Korea, the government has learned lessons from the challenges of digital assets and redoubled its efforts to close the gap with preemptive regulation to ensure safe use.
In mid-June, South Korean President Yoon Seok-yeol met with OpenAI CEO Sam Altman to share ideas on the safe use of AI in the country. The president also indicated South Korea’s desire to become a leader in the AI industry by increasing investment in semiconductors to meet the demands of the growing ecosystem.
“We are looking for ways to increase our investment in Korean startups,” Altman said. “I look forward to meeting as many of you as possible here today. I think this kind of collaboration is essential to our work.”
Watch: Konstantinos Sgantzos on CoinGeek, AI and BSV
New to Bitcoin? Check out CoinGeek Bitcoin for beginners This section is the ultimate resource guide for learning more about Bitcoin and blockchain, originally conceived by Satoshi Nakamoto.
