TL;DR:
- South Korea’s telecom giant KT Corp. plans to invest 7 trillion won ($5.4 billion) by 2027 to establish itself as the country’s top artificial intelligence (AI) service provider.
- The investment will focus on the robotics, healthcare, and education sectors, leveraging KT’s telecommunications experience to offer customized AI services.
- KT aims to generate 1.3 trillion won ($1 billion) in revenue by 2025 from AI-related service areas, including contact centers, logistics, robots, healthcare, and education.
- The company has already deployed AI technology in call center automation and logistics processes and is set to unveil delivery robots, logistics robots for factories, and robots for agricultural produce.
- In the healthcare sector, KT will provide remote healthcare services for patients with chronic diseases, supported by AI-based care coordinator groups.
- KT is developing AI-based learning platforms for the education market to enable students to assess their performance and engage in self-guided learning.
- Additionally, KT plans to launch an AI-powered transportation platform in Singapore through a partnership with Singtel, expanding its presence internationally.
Main AI News:
KT Corp., South Korea’s prominent telecom service provider, has announced an ambitious plan to invest approximately 7 trillion won ($5.4 billion) by 2027, aiming to position itself as the nation’s leading artificial intelligence (AI) service provider. The company’s primary focus will be on the lucrative markets of robotics, healthcare, and education.
During a press conference, Song Jae-ho, the Vice President of KT and the Head of its AI and DX Convergence Division, emphasized the utilization of their accumulated expertise in the telecommunications sector to deliver tailored AI solutions across various industries. This strategic approach is expected to drive the expansion of KT’s business ventures.
The substantial investment of 7 trillion won will be allocated as follows: 4 trillion won for securing advanced AI technologies, 2 trillion won for enhancing AI-related infrastructure, and 1 trillion won for the development of innovative AI service models. The decision to make such a significant investment stems from the rapid growth witnessed within the AI industry, prompting KT to take proactive measures to solidify its position.
KT has already made notable strides in integrating AI technology within its operations. For instance, the company has successfully implemented AI in automating call center operations and optimizing specific logistics processes. Furthermore, their AI robots have garnered considerable attention, particularly from understaffed establishments such as restaurants, hotels, resorts, and hospitals. These AI robots offer a comprehensive range of services, facilitating seamless order placement, payment processing, and even customer assistance.
To ensure uninterrupted AI services, KT diligently analyzes a staggering 60 million data cases on a daily basis. This meticulous data-driven approach enables them to swiftly identify and rectify any disruptions. In the near future, KT plans to unveil a diverse lineup of AI-powered robots, including indoor and outdoor delivery robots, small-scale logistics robots for industrial settings, and specialized robots for agricultural purposes.
According to Song, KT has set an ambitious revenue target of 1.3 trillion won ($1 billion) by 2025, derived from five key AI service areas: contact centers, logistics, robotics, healthcare, and education. In the healthcare sector, the company plans to introduce remote healthcare services, catering to patients with chronic illnesses starting in the second half of this year. By leveraging AI-analyzed data, KT’s dedicated care coordinator groups, comprising nurses and dietitians, will deliver personalized healthcare solutions.
In the field of education services, KT is actively developing AI-based learning platforms that empower students to assess their own performance and engage in self-guided learning experiences.
Expanding its horizons beyond its domestic market, KT has formed a strategic partnership with Singtel, Singapore’s leading telecom service provider. Together, they aim to launch an AI-powered transportation platform in Singapore later this year. This collaborative effort signifies KT’s commitment to leveraging AI on a global scale, capitalizing on new market opportunities, and strengthening its position as a pioneer in AI services.
Conclusion:
KT Corp.’s significant investment in becoming South Korea’s leading AI service provider demonstrates their commitment to capitalizing on the growing AI industry. By leveraging its expertise in telecommunications and expanding into robotics, healthcare, and education, KT aims to generate substantial revenue and solidify its position as an innovative player in the market. The company’s focus on AI-driven solutions and strategic partnerships not only signals its ambition but also highlights the transformative potential of AI technology across various industries.
