KT, a South Korean mobile carrier, has made a ground-breaking declaration, announcing its aim to invest $5.3 billion in artificial intelligence (AI) technologies by 2027. By utilizing AI’s enormous potential to spur innovation and revolutionize numerous facets of the economy, the company wants to firmly establish itself as a leader in the field, which is quickly growing.
By making such a substantial investment, KT demonstrates its dedication to leading the way in AI development.
Preparing the ground for the revolution in AI
Amid the AI industry’s rapid expansion, South Korean mobile giant KT, formerly known as Korea Telecom, has positioned itself as a leader in the field by declaring its intention to invest $5.3 billion (7 trillion won) in the research and development of AI services over the following five years.
Korean Telecom aims to guarantee future development engines and boost AI competitiveness to surpass 1 trillion won ($764 million) in yearly sales from AI enterprises by 2025.
This week, the tech behemoth conducted a press conference at the Novotel Ambassador Dongdaemun in Jung-gu, Seoul, to discuss its plans for customer-tailored AI services, including AI-driven robotics, care, and education, as well as AI contact centers and logistics business.
According to a report, the vice president of KT’s AI/DX Convergence Business Division, Song Jae-ho, said, “KT is Korea’s leading AI company, and we will establish ourselves as a customer-centered AI service provider by applying our experience, capabilities, infrastructure, and knowhow to the AI business.”
To realize this goal, investing heavily in its infrastructure and building “super-giant AI technology” and new AI enterprises is necessary. KT’s AI business will benefit from its efforts to improve its technological prowess and infrastructure in this area.
Accelerating economic expansion via AI development
KT isn’t alone in the competition to become the AI industry leader. The entire industry is expected to be worth a mind-boggling $15.7 trillion by 2030, and it’s no surprise that it has attracted investments from some of the biggest names in international business.
Big names in tech like Amazon, Microsoft, Adobe, and Zoom are all making significant advances in artificial intelligence.
KT is transitioning its robotics division from a hardware-centric model to a service-based one. KT’s mission is to become the leading “AI robot service provider” by capitalizing on its distinctive “delivery system” and “robot platform” to drive market expansion.
In the future, KT hopes to offer AI-powered robots for various industries, such as agricultural deliveries, indoor logistics for manufacturing, and outdoor delivery services.
KT’s AI-powered innovations revolutionizing healthcare
KT plans to introduce an AI-powered telecare service for the everyday management of chronic diseases in AI healthcare. To make keeping track of what you eat and how healthy it is easier, the service will incorporate cutting-edge “AI Food Tag” technology.
In addition, the company is getting ready to provide a new service called “Genie TV Care.” This service will bring artificial intelligence-based care services to televisions, which will help vulnerable populations like elderly people who live alone.
Singapore can strengthen its position as East Asia’s primary transportation center by working together. In addition, KT hopes to commercialize artificial intelligence (AI) care services in Vietnam, particularly for those with cancer and chronic diseases.
AI in telecommunications, academic, and collaborations
KT also plans to broaden its operations to a global scale soon. An artificial intelligence (AI) transportation platform will launch in partnership with Singtel, the leading telecom provider in Singapore.
The “AI Future Education Platform” is KT’s way of promoting digital innovation in the classroom. With the use of this platform, AI-powered learning advice can be tailored to each learner, with tasks generated automatically using digital learning tools. This platform will deploy via public education this year and expand to additional regional education offices to catalyze digital transformation in the education industry.
KT’s audacious intention to invest $5.3 billion in AI technology indicates the company’s resolve to take the lead in the AI revolution. KT’s goal is to accelerate innovation across industries by tapping into the full potential of AI by increasing its AI infrastructure, speeding up R&D, focusing on industry-specific applications, and cultivating partnerships.
The world will monitor The South Korean’s efforts closely to see how this massive investment influences the course of technology and helps South Korea become a global leader in the AI industry.
