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- 1 By 2025, KT aims to surpass 1 Trillion won ($764 million) in annual AI business sales.
- 2 The company plans to establish itself as a customer-centered AI service provider by applying its experience, capabilities, infrastructure, and know-how to the AI business.
- 3 The company plans to introduce telecare services for managing chronic illnesses using AI technologies, including cutting-edge “AI Food Tag” technology.
KT, formerly known as Korea Telecom, has announced its intention to invest $5.3 Billion in AI service research and development over the next five years.
KT Making Huge Investments In AI
The South Korean mobile juggernaut KT Corporation, formerly known as Korea Telecom, has asserted its position as a forerunner in the industry amid the AI sector’s fast growth by declaring its intention to invest $5.3 Billion (7 Trillion won) in AI service research and development over the following five years.
By 2025, KT hopes to surpass 1 Trillion won ($764 Million) in annual AI business sales.
This week, KT revealed its plan for AI-driven robotics, care, and education, along with AI contact centers and logistics business—all of which are customer-customized AI services—during a press conference held at Novotel Ambassador Dongdaemun in Jung-gu, Seoul.
According to an official report, Song Jae-ho, vice president of KT’s AI/DX Convergence Business Division, 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 know-how to the AI business.”
This vision calls for the creation of “super-giant AI technology” and brand-new AI firms, as well as significant infrastructure improvements. To make KT’s AI business more competitive, the company plans to strengthen its infrastructure and AI technological capabilities.
In the competition to rule the AI sector, KT is not acting alone. It is no surprise that the sector has drawn investments from some of the biggest players in the global business environment given that it is predicted to be worth a whopping $15.7 Trillion by 2030.
Advances in AI technology are being made by tech behemoths like Adobe, Zoom, and Microsoft and Amazon among others.
In its robotics division, KT is moving away from a hardware-centric strategy and towards one that is service-centric. The objective of KT is to drive market expansion as an “AI robot service provider,” with a core strength based on a distinctive “delivery system” and “robot platform.”
KT intends to add agricultural delivery robots, small logistics robots for factories and distribution centers, and outdoor delivery robot services to its roster of AI robot products.
KT plans to introduce a telecare service for managing chronic illnesses on a regular basis utilizing AI technologies in the field of healthcare. The service will include cutting-edge “AI Food Tag” technology, which makes it easier to record eating habits and analyze nutritional content with only one picture.
Additionally, the business is getting ready to roll out the “Genie TV Care” service, which extends AI care services to television and helps vulnerable populations like elderly people living alone.
Additionally, KT plans to expand globally. To launch an AI transportation platform, the business will collaborate with Singtel, the leading telecom provider in Singapore.
Singapore’s position as the logistical center of East Asia is supposed to be cemented by this cooperative effort. Additionally, KT wants to commercialize AI care services in Vietnam, concentrating on people with cancer and other chronic illnesses.
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