LG to strengthen AI competitiveness through sharing and integration of 'digital transformation' within the group

■ The AI and Big Data Talk Concert was held at LG Sciencepark in Magok, Seoul on November 26
 
■ The first Korean conglomerate to establish a public cloud-based integrated AI development infrastructure
 
■ To strengthen open innovation by investing 20 billion won in SoftBank Ventures in a bid to create an AI ecosystem
 


  
LG held the AI and Big Data Talk Concert at LG Sciencepark in Magok, Seoul on November 26.
  
At this event, executives including Seung-kwon Ahn, CEO of LG Sciencepark, and more than 600 people related to AI and big data gathered to share information on the latest trends, such as technology that analyzes customers' purchasing patterns and predicts purchasing preferences using AI and big data as well as technology to detect defective products in the manufacturing sector, and to seek ways to utilize them.
  
On the same day, LG also unveiled an AI development infrastructure that can reduce deep learning working time by more than 30% by enabling the use of multiple graphics processing units (multi-GPU) based on the public cloud for the first time among Korean conglomerates.
  
AI competitiveness depends on the amount of data, the latest algorithms (software), and computers (hardware) with high computational speed.
  
In particular, the graphic processing unit (GPU), which boasts high computational speed, is acting as a supercomputer in developing products and services in the field of future growth engines such as information and communications and biotechnology.
  
To increase the usability of AI, LG has applied a user graphic interface (GUI) that allows developers to select menu items on the screen by clicking the mouse without direct coding.
  
Furthermore, the company will actively promote open innovation by collaborating with Amazon and Google while invigorating the developer ecosystem by sharing AI and big data algorithms among subsidiaries through the AI development infrastructure.
  
Meanwhile, LG has partnered with venture capital SoftBank Ventures to discover and invest in promising global AI startups in an effort to create an AI ecosystem.
  
Four subsidiaries—LG Electronics, LG Chem, LG Uplus, and LG CNS—decided to jointly invest 20 billion won in the Growth Acceleration Fund worth about 320 billion won, which is being raised by SoftBank Ventures to invest in the AI sector.
  
Through this investment, LG plans to actively promote open innovation by finding promising AI startups at home and abroad and seeking collaboration opportunities.
  
Separately, LG is operating LG Technologies Ventures, a venture capital established in Silicon Valley, with an investment of 500 billion won to prepare for the future and strengthen existing business capabilities.
  
"We will lay the foundation for accelerating digital transformation through the development and investment of AI technology to break the mold and create differentiated customer value," LG Sciencepark CEO Seung-kwon Ahn stressed.