Artificial Intelligence ventures revealed by SK Networks, along with their sovereign approach strategy
SK Networks, a leading AI-focused business holding company, recently hosted the second edition of AI Wave at Walkerhill Hotels & Resorts in eastern Seoul. The event, which took place on Wednesday, March 2023, aimed to provide a platform for AI startups to present their visions and connect with investors.
In his keynote speech, SK Networks President Choi Sung-hwan emphasized the importance of cooperation between startups and investors in a rapidly changing technology-driven society. He highlighted the need for bold government investment and public-private partnerships to build a South Korean AI ecosystem aligned with global standards.
The event featured presentations from SK Networks portfolio companies, including Upstage and PhnyX Lab. Upstage, the sole startup selected for a government-led project to develop South Korea's own AI foundation model, showcased its enterprise AI models and systems based on its large language model technology. PhnyX Lab, on the other hand, introduced South Korea's first generative AI solution specialized in pharmaceuticals.
A fireside chat between Choi and Upstage CEO Kim Sung-hoon focused on the future of sovereign AI and strategies to strengthen South Korea's AI ecosystem. Kim pledged to expand industry-specific specialized models and a sustainable, independent AI ecosystem to strengthen South Korea's industrial and technological competitiveness.
The event also saw the participation of Dan Morse, head of investor relations at HF0, a Silicon Valley-based residency program for AI startups. Morse participated in a panel discussion on "the future of AI and strategies for smart investment", and represented Kapsch TrafficCom as Head of Investor Relations.
SK Networks' US subsidiary introduced portfolio companies operating in financial technology, including AI-powered lending platforms. The second edition of AI Wave was supported by HF0, ensuring a global perspective for the event.
Shin Sang-eun, from SK Networks, commented that the company structured networking sessions to ensure the event served as a genuine platform for exchange. The event was attended by approximately 100 participants, including Upstage and PhnyX Lab.
In conclusion, SK Networks' AI Wave 2023 was a significant step towards fostering cooperation between startups, investors, and the government in building a robust South Korean AI ecosystem. The company plans to continue enhancing internal capabilities, expanding global technology networks, and supporting innovation-driven growth across its affiliates' AI portfolios.
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