South Korean telephony giant KT Corporation will commit 7 trillion won (~$5.3 billion) to research and develop artificial intelligence (AI) products over five years.
The company will focus on “customized AI services”, including digital assistants, as well as solutions in education, healthcare and business.
Currently, KT has a job assistant bot service and an app that turns a desk phone into an AI device.
According to plans of corporation, by 2025 revenue from the AI direction should reach 1 trillion wons (~$764 million).
“KT is the leading AI company in Korea, and we will establish ourselves as a customer-focused service provider by applying our experience, capabilities, infrastructure and know-how to the business,” said Song Jae-ho, the firm’s vice president of AI.
As part of the initiative, the company will modernize its own infrastructure and create “super-giant AI technology.” The focus will be on service, not hardware. KT will design food delivery robots, special logistics AI for manufacturing plants, and farming bots.
In addition, the corporation will launch an online medicine service based on neural networks. It will use AI Food Tag technology, which analyzes food habits and nutrient content through photography.
Recall that in 2018 the South Korean government announced plans to invest $880 million in the development of blockchain, AI and other innovative technologies.
In 2021, ex-Google CEO Eric Schmidt said that South Korean and Japanese companies will help the US compete with China in the field of artificial intelligence.
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