ATE1 Signs Technology Cooperation MOU with AI Translation and Speech Recognition Specialist 'Elsolu'

[Asia Economy Reporter Hyunseok Yoo] On the 5th, EightOne (formerly Saltworks), which was listed with a name change, will embark on full-scale expansion of AI (artificial intelligence) technology-based business.

EightOne announced on the 5th that it signed a technology cooperation memorandum of understanding (MOU) with AI translation and speech recognition technology specialist company ‘Elsolu’. Through this MOU, the two companies plan to ▲expand deep learning-based speech recognition technology and NLP (Natural Language Processing) business ▲promote AI convergence across various sectors such as VR (virtual reality) content, remote lectures, and defense logistics IETM (Interactive Electronic Technical Manual) ▲engage in comprehensive technology cooperation in AI-related business areas including AI algorithm development.

Choi Cheolsun, CEO of EightOne, said, “Using this technology cooperation MOU as a turning point, we will strive to build a user-centered AI platform ecosystem through smooth mutual technology exchange. First, within this month, we plan to materialize global business activation cases such as AI collaborative products and VR content releases targeting the post-COVID-19 era.”

The company stated that since the development of advanced algorithms and construction of learning data are the most critical parts of the AI business sector, it plans to continuously secure core technologies and actively integrate them with various businesses.

Kim Wookyun, CEO of Elsolu, said, “This agreement is a new challenge and an opportunity for Elsolu to take another leap forward. Through technology cooperation, we will concretize the development of an AI VR platform combining AI translation and speech recognition, and aim to enter the global market.”

EightOne made a full-scale entry into the AI business sector in 2019 by investing in KAIT (Knowledge AI Technology), an AI education solution development specialist company located in Boston, USA. KAIT is a 100% subsidiary of Sweden’s Anoto Group, which focuses on EduTech business applying AI in the education field, and supplies self-developed AI solutions for middle and high school education to various state governments in the US.