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KT, South Korea’s telecommunications leader, plans to allocate $5.3 billion towards artificial intelligence by 2027.
- This week, KT held a press conference at the Novotel Ambassador Dongdaemun.
- The entire sector is projected to reach an astonishing $15.7 trillion by 2030.
KT, the South Korean telecommunications leader formerly known as Korea Telecom, has revealed plans to allocate $5.3 billion (7 trillion won) towards research and development of AI services over the next five years. This move reinforces its status as a leader in the rapidly evolving AI sector.
The company aims to secure future growth drivers and enhance its competitiveness in AI. It plans to elevate annual revenues from AI-related businesses to over 1 trillion won ($764 million) by 2025.
This week, KT held a press conference at the Novotel Ambassador Dongdaemun in Jung-gu, Seoul, to outline its strategies for personalized AI services. These include AI-driven robotics, care, education, AI contact centers, and logistics operations.
Song Jae-ho, vice president of KT’s AI/DX Convergence Business Division, remarked:
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“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.”
Intense Rivalry from Technology Giants
This strategy necessitates significant upgrades to its infrastructure, along with the development of new “super-giant AI technology” and AI-driven enterprises. KT’s AI initiatives will benefit from the company’s commitment to enhancing its technological capabilities and infrastructure in this domain.
In its quest for leadership in the AI sector, KT faces competition from other players. With the entire industry anticipated to be valued at an impressive $15.7 trillion by 2030, it is not surprising that it has attracted investments from some of the most prominent names in the global market. Major advancements in AI research are being pursued by tech giants such as Amazon, Microsoft, and Google, among others.
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