SEOUL, Jun. 19 (Korea Bizwire) — As competition in the international steel industry stiffens due to oversupply, South Korean steel companies are embracing smart technology to prepare for the Fourth Industrial Revolution.
At the forefront of this trend is South Korean steel-making company POSCO, which announced on Saturday that it has been adopting new artificial intelligence-based automation solutions for metal plating calculation at its production sites since January.
Previously, the amount of metal to be plated was controlled by workers, which left room for deviation depending on the various skill levels among workers.
However, the introduction of the AI-based automation technology is set to improve quality and decrease excessive steel plating, both of which could contribute to reducing the cost of production.
POSCO’s move to go smart amid growing competition in the steel industry is led by CEO Kwon Oh-Joon, and began with his appointment in March.
From this month, POSCO is running a complimentary course on artificial intelligence for young people seeking employment in an all-out effort to cultivate talent in preparation for the Fourth Industrial Revolution.
Similarly, Hyundai Steel is also accelerating its efforts to develop AI-based automotive steel of a brand new generation, which will be 40 percent stronger than previous products.
The steel company has also adopted an automatic detection system with a deep learning algorithm, which helps find metal sheet defects.
“POSCO will invest more and continue to improve production quality to widen the gap with Chinese rivals,” Kim Chang-do, a researcher at POSCO Research Institute said.