AI One Team and Woori Bank Sign MOU on the 20th
Woori Bank Joins to Boost AI Research in Finance
Developing Customized Financial and Untact Services Using AI
[Asia Economy Reporter Cha Min-young] Woori Bank is joining the industry-academia-research consortium "AI One Team," established with the goal of making South Korea the "No. 1 AI (Artificial Intelligence) country." It is expected that the use of AI in the financial sector and joint research will become more active.
On the 20th, KT announced that it signed a Memorandum of Understanding (MOU) with Woori Bank at the KT Gwanghwamun Building East in Jongno-gu, Seoul, for the goal of making South Korea the "No. 1 AI country." Attending the signing ceremony on behalf of AI One Team were KT CEO Koo Hyun-mo, Vice President Song Jae-ho, Head of AI·DX Convergence Business Division, Woori Bank President Kwon Kwang-seok, and Executive Vice President Jo Byung-kyu, Head of the Management Planning Group, among other key officials.
Through this collaboration, Woori Bank plans to develop customized financial services using AI, such as hyper-personalized marketing and personalized products, within the AI One Team consortium. They also plan to apply AI to untact (non-face-to-face) financial services, including intelligent conversational services and deep learning financial services. Additionally, they will continue cooperation to nurture AI experts with financial knowledge.
Currently, AI One Team includes KT, Hyundai Heavy Industries Group, Korea Advanced Institute of Science and Technology (KAIST), Hanyang University, Electronics and Telecommunications Research Institute (ETRI), LG Electronics, LG Uplus, Korea Investment & Securities, and Dongwon Group.
Meanwhile, since signing a mutual business agreement in August last year, KT and Woori Bank have continued cooperation in jointly promoting the MyData business and AI workshops. In March, they jointly launched the KAIST "Finance-IT Convergence AI·DX Industry-Academia Course," expanding collaboration in AI talent development.
KT CEO Koo Hyun-mo said, "With Woori Bank, which is leading digital financial innovation, joining, we expect the AI One Team ecosystem expansion and business cooperation to accelerate. KT will work with AI One Team to lead AI innovation across various industrial sectors and add value to people's lives."
Woori Bank President Kwon Kwang-seok stated, "With the development of AI technology, things that were unimaginable in the past are becoming reality. Woori Bank will collaborate with the best domestic companies and institutions participating in AI One Team to provide differentiated financial services and do its best to strengthen the AI competitiveness of the domestic financial industry."
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