TL;DR:
- Korean AI startup ActionPower believes it can surpass giants like Google, Microsoft, and OpenAI.
- ActionPower’s confidence stems from its portfolio of original AI technologies and research competency.
- The company holds 21 local and two international patents related to AI.
- ActionPower has been recognized for its innovative technologies at prestigious conferences.
- Startups typically rely on existing AI technologies, but ActionPower aims to develop its own.
- The company invests heavily in R&D and talent acquisition.
- ActionPower’s audio transcript service, Daglo, boasts 95% accuracy in voice recognition.
- Daglo recently introduced version 6.0 with improved features.
- ActionPower plans to replace ChatGPT with its proprietary LLM.
- The company’s larger dream drives its focus on developing original technologies.
Main AI News:
In a bold statement, Cho Hong-Sik, the founder and co-CEO of ActionPower Corp., a Korean AI startup founded in 2016, claims that his company has what it takes to surpass industry giants like Google, Microsoft, and OpenAI. Despite being small and young in comparison, ActionPower’s CEO exudes confidence in the ability of his team to outshine its formidable foreign peers.
Cho Hong-sik’s belief stems from ActionPower’s impressive portfolio of original AI technologies, which have been meticulously developed through extensive research and development efforts. Currently holding 21 local patents and two international ones, all focused on AI-related technologies, ActionPower has received significant recognition for its groundbreaking advancements. The company’s innovative solutions have been showcased at prestigious conferences such as INTERSPEECH, ICASSP, and ACL, solidifying its position as a player to watch in the field.
The journey toward success has not been without challenges. Startups, in particular, face uphill battles when it comes to developing original AI technologies, such as large language models (LLMs). Many young companies opt to leverage existing AI technologies from established players like OpenAI’s ChatGPT or Google’s Bard to power their own AI services. However, ActionPower’s co-CEOs, Cho Hong-sik and Lee Ji-hwa, have chosen a different path.
Lee Ji-hwa emphasizes the importance of independence from reliance on existing technologies like ChatGPT, asserting that such dependence would perpetually place them a step behind. Instead, the duo firmly believes that ActionPower’s proprietary AI technology is on par with renowned counterparts worldwide. To maintain its competitive edge, the company is making substantial investments in research and development, as well as talent acquisition. Notably, over 70% of ActionPower’s 50-strong workforce are skilled developers, with around 70% holding advanced degrees.
One area where ActionPower has showcased its expertise is in mitigating the challenges posed by generative AI-powered chatbots. Through their AI-powered audio transcript service, Daglo, which has been operational for five years, ActionPower has developed unique strategies to address the issue of hallucinations generated by such chatbots.
Daglo converts audio into searchable and editable transcripts, boasting an impressive 95% accuracy rate in voice recognition. Currently serving approximately 300,000 subscribers, spanning both web and mobile users, Daglo recently introduced version 6.0, featuring enhanced voice recognition capabilities and a new note-taking service. While ActionPower currently employs ChatGPT to enable users to edit and summarize transcriptions, their ultimate goal is to replace it with their proprietary LLM.
Cho Hong-sik and Lee Ji-hwa’s unwavering dedication to the development of original technologies is driven by their overarching vision—a vision that extends beyond the present. ActionPower’s ambition lies in the pursuit of their larger dreams, propelling them to push the boundaries of AI and carve out their place in the industry.
As ActionPower continues to pioneer innovative AI solutions and challenge industry giants, it is clear that this Korean startup is well on its way to making a name for itself in the global AI landscape. With their relentless pursuit of originality and investment in talent, the future holds great promise for ActionPower and its ambitious visionaries.
Conclusion:
ActionPower’s emergence as a formidable AI player poses an intriguing challenge to established tech giants in the market. With its portfolio of original technologies, investments in R&D, and focus on talent acquisition, ActionPower is positioning itself as a disruptive force. By offering innovative solutions and aiming to replace existing AI technologies with its proprietary LLM, ActionPower signals its ambition to carve out a significant share of the AI industry. The market can expect increased competition and potential shifts in the landscape as ActionPower continues to push the boundaries of AI development.
