This photo provided by LG Electronics Inc. shows its new wireless transparent TV LG Signature OLED T unveiled at CES 2024 in Las Vegas, set to run from Jan. 9-12, 2024. (Image courtesy of Yonhap)
LAS VEGAS, Jan. 8 (Korea Bizwire) — LG Electronics Inc. on Monday emphasized its artificial intelligence (AI) technologies across its global range of home appliances and other products, positioning on-device AI as a crucial element for South Korean electronics further growth.
“AI is one of the most essential enablers to take customer experience to a whole new paradigm,” CEO Cho Joo-wan said during a press event one day ahead of the opening of CES 2024. “Our focus is on how it can make a difference in the real world, delivering real benefits to our customers.”
He said around 7 billion LG Electronics’ smart products are used in home, mobility and commercial sectors globally, with embedded AI working in real time to understand users’ physical and emotional patterns.
This vast dataset enabled the company to glean valuable lifestyle knowledge and insights about their customers.
The LG Electronics chief distinguished its on-device AI as “affectionate intelligence,” emphasizing its role in orchestrating and fine-tuning various electronics in a user-friendly manner.
Also, its AI is safeguarded by LG Shield, a comprehensive data security system applied throughout the entire process of data collection, storage and usage.
This photo provided by LG Electronics Inc. shows its next-generation mobility vision of “Alpha-able” unveiled at CES 2024 in Las Vegas, set to run from Jan. 9-12, 2024. (Image courtesy of Yonhap)
“LG Electronics has the opportunity to capitalize on real-time life data collected from billions of our smart products and Internet of things devices used in various spaces,” he said. “The data is a unique asset and a clear differentiator that many companies don’t have.”
LG Electronics has been expanding its business portfolio to business-to-business segments, including automotive electronics and air solutions businesses.
It posted 996.7 billion won (US$738.2 million) in operating profit for the third quarter of 2023, up 33.5 percent from a year earlier, on brisk sales of new-platform services and automotive electronics.
For all of 2023, however, its operating profit was estimated to have edged down 0.1 percent on-year to 3.55 trillion won due to increasing marketing costs.
(Yonhap)
