Development of Various Machine-Human Communication Technologies Including Voice and Handwriting Recognition
Q1 Sales Grow 47% Year-on-Year... Highest in 6 Years
Impact of Increased Unmanned Stores in Pandemic Era... Launch of Various Solutions
[Asia Economy Reporter Kim Bo-kyung] Selvas AI, the first AI (Artificial Intelligence) specialized company to be listed on the KOSDAQ market in 2009, is experiencing a second heyday as unmanned stores increase in the pandemic era. Its sales in the first quarter of this year reached 4.12 billion KRW, a 47% increase compared to the same period last year, marking the highest level in six years. Operating profit recorded 58 million KRW, successfully turning to black. Mincheol Kwak, CEO of Selvas AI (photo), said, "Future computers will be able to communicate with people without keyboards, monitors, or mice," and predicted, "The population using computers will increase, and IT technology will expand throughout society and industry."
◆ "The Era of Unmanned Systems Will Open with the Development of HCI Technology" = Selvas AI is a company with 22 years of research and development experience in the field of HCI (Human-Computer Interaction). HCI refers to the study of computers reproducing human language as it is. To imitate human communication, various technologies such as voice recognition, speech synthesis, natural language processing, handwriting recognition, and image recognition are required. Based on these technological capabilities, Selvas AI is expanding its market by developing various AI convergence products. CEO Kwak explained, "As HCI technology develops, even generations who cannot use smart devices will be able to use IT services," adding, "It also means that the era of unmanned systems, where machines replace human tasks, is opening."
HCI technology has been part of our daily lives for several years. In the late 1990s, a cellphone advertisement that automatically dialed when saying "Uri~jip" ("Our home") became a hot topic. This voice recognition technology is also a type of HCI. Selvas AI entered this market earlier than anyone else, accumulating technology and data and building a foundation through numerous commercialization and practical experiences. CEO Kwak asserted, "We record the highest level of voice recognition accuracy in Korea." He added, "As digital transformation accelerates, the customer base, which was previously centered on manufacturers and telecom companies, is expanding and diversifying to general enterprises and the public sector."
◆ Focused Learning of Specialized Languages... Applied to Legal and Medical Fields = Selvas AI focuses on commercializing high-quality technologies and products by learning data from various fields. CEO Kwak said, "Recently, we have been improving work efficiency and productivity in specialized fields such as medical and legal sectors." This differs from large companies like Naver and Kakao, which develop AI services for the general market in B2C (business-to-consumer) transactions.
For example, using the medical transcription solution 'Selvy MediVoice,' doctors do not need to manually fill out medical records or surgical notes; speech is automatically transcribed into text. Medical staff can focus more on patient care and prevent omissions in records. CEO Kwak stated, "By intensively training the language used in this field, we raised the voice recognition rate to over 98%," and revealed, "It is currently used in more than 30 large hospitals in Korea." Additionally, the AI report writing support system 'Steno Selvy,' which utilizes voice recognition technology, was introduced to the Sexual Violence Investigation Division of the National Police Agency last year and will be expanded nationwide starting this year. It will be commercialized in the legal field, which involves many counseling tasks. 'Selvy AI Call' enables 24-hour AI customer service for product ordering, payment, and delivery.
Selvas AI is advancing the era of unmanned systems where machines (computers) perform simple input and consultation tasks previously done by humans. This is thanks to the broad application of HCI technology, which imitates human language. Regarding concerns that AI will take away human jobs, CEO Kwak said, "The core of digital transformation and the Fourth Industrial Revolution is productivity improvement. Machines will replace labor, allowing humans to engage in more valuable and creative work during that time."
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