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Artificial Intelligence (AI) Market Worth $309.6 Billion by 2026 – Exclusive Report by MarketsandMarkets™

Northbrook, IL, April 7 (Korea Bizwire) — According to a new market research report “Artificial Intelligence Market by Offering (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing), Deployment Mode, Organization Size, Business Function (Law, Security), Vertical, and Region – Global Forecast to 2026″ published by MarketsandMarkets™, the global AI market size to grow from USD 58.3 billion [...]

Road Traffic Authority Develops AI-based Forecasting Model for Dangerous Areas

SEOUL, April 7 (Korea Bizwire) — The Korea Road Traffic Authority (KoRoad) said Wednesday it would introduce artificial intelligence (AI) to upgrade the function of its big data-based ‘road danger prediction system.’ The system is a traffic accident risk prediction system that KoRoad established for the first time in South Korea. The prediction system classifies [...]

Kakao Mobility Unveils Inner Workings of AI Taxi Allocation System

SEOUL, April 5 (Korea Bizwire) — Kakao Mobility Corp., South Korea’s leading taxi-hailing firm, on Monday unveiled how its artificial intelligence (AI) taxi allocation system works via its official website. The site shows how each cab is hailed in various scenarios, how the AI uses a designated forecast model to reach customers faster, as well [...]

S. Korea to Invest Over 20 tln Won in Data, Network, AI Sectors

SEOUL, March 25 (Korea Bizwire) — South Korea plans to invest more than 20 trillion won (US$16.4 billion) in data, network and artificial intelligence (AI) sectors over the next three years in a bid to help nurture future-oriented industries, the finance minister said Friday. Along with fiscal spending, the government plans to provide support for [...]

Patent Office Launches Trial of AI-based Search System

DAEJEON, March 25 (Korea Bizwire) — The Korean Intellectual Property Office (KIPO) said it will launch a trial of an artificial intelligence (AI) technology-based patent search system for its examiners on Friday. This service, developed in collaboration with Kakao Enterprise, can contribute to shortening the search time and improving the quality of examination by using [...]

Samsung Introduces Color Recommendation Service for Bespoke Home Appliances

SEOUL, March 24 (Korea Bizwire) — Samsung Electronics Co. announced Wednesday the Bespoke Creator AI, a service that helps consumers customize colors for the tech giant’s Bespoke home appliances. Customers can use the service to simulate various mixes of colors that would fit perfectly in their homes. The service provides three kinds of recommendations. The [...]

Kakao Enterprise’s AI Model Tops Korean Machine Reading Comprehension Test

SEOUL, March 24 (Korea Bizwire) — Kakao Enterprise Corp., an artificial intelligence (AI) unit of South Korean internet giant Kakao Corp. said Wednesday that its in-house natural language processing AI model LittleBird-large grabbed the top spot in the performance test of the Korean machine reading comprehension dataset KorQuAD 2.0. KorQuAD 2.0 is a massive dataset of Q&As [...]

S. Korea Ranks No. 3 Behind U.S., China for AI Chip Patent Applications

DAEJEON, March 23 (Korea Bizwire) — South Korea is positioned in the third spot after the U.S. and China in the area of patent applications for artificial intelligence (AI) semiconductors, a report from the country’s patent office showed Tuesday. According to an analysis conducted by the Korea Intellectual Property Office along with the Center for [...]

Eagle Eye Networks Introduces Eagle Eye LPR, Making Highly Accurate License Plate Recognition Possible with Any Security Camera

AUSTIN, Texas, March 10 (Korea Bizwire) — Eagle Eye Networks, the global leader in cloud video surveillance, today launched Eagle Eye LPR (license plate recognition), which uses artificial intelligence (AI) in a true cloud-based system for high accuracy in all kinds of challenging conditions. Eagle Eye LPR operates on readily available security cameras making it [...]

Shinhan Bank to Introduce AI-based ATMs to Prevent Voice Phishing

SEOUL, March 8 (Korea Bizwire) — Major South Korean lender Shinhan Bank said Monday it will introduce artificial intelligence (AI)-based automated teller machines (ATMs) that detect abnormal activities to prevent voice phishing. The new ATMs detect a user’s suspicious activities, such as talking on their cell phone while using the machine or wearing sunglasses or [...]