Mirae Asset Daewoo Launches Big Data and AI-Based Information Service

[Asia Economy Reporter Song Hwajeong] Mirae Asset Daewoo announced that it has received approval from the Financial Supervisory Service for the 'Big Data and Artificial Intelligence (AI) Based Information Provision Service' as an ancillary business and will start the service from the 6th.

The newly launched big data and AI information provision service includes the sale of datasets (collections of data) generated based on AI algorithms and big data analysis capabilities secured through Mirae Asset Daewoo's online financial service platform, m.Club, as well as financial big data analysis consulting and provision of analysis content.

Mirae Asset Daewoo plans to utilize AI technology, which has been applied to spam news filtering and overseas news translation, to jointly develop services and solutions with partner companies for customer service. In the future, it will sell datasets, application programming interfaces (APIs), and more through the soon-to-be-opened Financial Data Exchange.

A Mirae Asset Daewoo official stated, “Recently, with the amendment of the three data-related laws including the Credit Information Act, a regulatory foundation has been established for financial companies to conduct big data operations.” He added, “We will strengthen customer services by leveraging Mirae Asset Daewoo’s big data analysis and AI expertise and contribute to revitalizing the data economy.”