CEO Myung-ho Yoo “Striving to be No.1 AI company”
SNUAILAB (CEO Myung-ho Yoo), a company specializing in artificial intelligence (AI), is targeting the vision AI service market.
According to an industry on the 10th, SNUAILAB has recently been discussing commercialization of its "AI Auto Care Platform" with various IT companies. The company discussed with these companies to build an integrated AI solution platform, cooperate in the original technology sector, jointly enter domestic and foreign markets, and upgrade business models. Companies that have formed cooperative relationships include FinTech company Finger, voice AI company Mediazen, Ssangyong Information & Communications, and DAEYOUNG IoT.
The company's Auto Care Platform automates the deep learning development process. Auto Care is equipped with its own detector that improves performance by 50% compared to existing market vision AI detectors. Compared to other products, the time required for image extraction and work calculation has been reduced by half. The company applied for 13 related AI technology patents in Korea and 2 in the U.S.
The company is stepping up efforts to tap into the market through cooperation with major domestic companies. An official from SNUAILAB said, "Vision AI is a high-efficiency AI that replaces 'simple work' among the tasks that the human eye can do." "It has already been recognized for its practicality through proof of concept (PoC) at domestic and foreign industrial sites," they said. They also expressed, "In particular, we blocked the possibility of information leakage through an on-premise method."
They also said, "Related business discussions are underway with companies in the security, defense, industrial safety industries, medical, and global smart farms." “In the future, we will create a representative AI solution to support the competitiveness of domestic key industries, they added.
It also laid the foundation for global expansion. Earlier last year, SNUAILAB has exchanged a memorandum of understanding (MOU) with POSCO International to enter the global market. The two companies are cooperating in areas such as △ sharing information on overseas AI market △ establishing related standard strategies △ consulting on specific requirements of customers △ marketing and public relations education. The company focuses on expanding global customers through cooperation with POSCO International, the largest general trading company in South Korea.
It is also striving to strengthen its technology by upgrading its vision AI. A domain adaptation project is underway to upgrade the platform. Research is a study to automate image classification work (hereinafter referred to as labeling work), which is a simple repetitive task.
Recently, as CCTVs, black boxes, and detection cameras for safety in factories have been installed exponentially, the amount of manager labeling work is increasing in all areas of industry and daily life. The company plans to automate labeling and upgrade Auto Care through research.
CEO Myung-ho Yoo said, "We will establish ourselves as the No. 1 company in vision AI this year through differentiated technology and collaboration." "As we are a company established by the nation's top authorities in the AI field, we will try to grow into a representative company in the vision AI market," he said.
The company was co-founded in 2019 by Seoul techno holdings and professors at Seoul National University. A veteran in the field of vision AI and big data processing, which reproduces human visual recognition skills with AI, participated as founding members. Six faculty members of Seoul National University and key researchers from Samsung Advanced Institute of Technology and Samsung Techwin (Hanwha Techwin) also played key roles. The company is spurring the commercialization of service solutions by industry through Auto Care.
By Staff Reporter Joong-kwon Lim (firstname.lastname@example.org)