NVIDIA Invests 4.2 Billion in CoreAI Series C... Collaboration on Conversational AI

CoreAI Raises 87.4 Billion KRW in Series C Funding Round

[Asia Economy Reporter Minyoung Cha] NVIDIA is investing approximately 4.2 billion KRW in the Series C funding round of Core AI, a conversational artificial intelligence (AI) company. Core AI and NVIDIA will also collaborate on the development of enterprise conversational AI-based platform and solution technologies.

Core AI announced on the 30th that NVIDIA participated in the Series C investment round, investing 3.5 million USD (approximately 4.2 billion KRW). Including this, the total Series C investment amount is 73.5 million USD (approximately 87.4 billion KRW).

Core AI decided to collaborate with NVIDIA to address customer churn issues and optimize the experience of customer service representatives. First, Core AI’s conversational AI service will be integrated with NVIDIA’s conversational AI framework, Riva. Riva has been trained on over 1 billion pages of text and more than 60,000 hours of voice data to enhance speech recognition accuracy. Through integration with Core AI, NVIDIA’s GPU performance will enable accurate and rapid responses to customers’ voice-based inquiries.

Through this strategic partnership, Core AI will demonstrate innovative leadership in NLP (Natural Language Processing) technology, while NVIDIA aims to advance voice data transcription, natural language parsing, and text-to-speech (TTS) conversion. Core AI’s SaaS or on-premises solutions will expand customers’ choices of STT (speech-to-text) and TTS engines by adding NVIDIA’s Riva alongside previously supported Google, Microsoft, and Nuance. Additionally, NVIDIA’s GPU performance will help reduce total cost of ownership (TCO).

Raji Koneru, founder and CEO of Core AI, said, “The collaboration between the two companies will optimize customer center experiences for both customers and agents, accelerating business speed for large and small enterprises. Through this partnership, we will provide the best support so that enterprise customers can enhance customer and internal workforce applications by leveraging conversational AI modules.”

John Ashley, General Manager of Financial Services and Technology at NVIDIA, stated, “Our collaboration with Core AI will help achieve the goal of ‘enabling every company to have domain-specialized, real-time conversational assistant support with impressive voice quality that represents their brand.’ This partnership will provide enterprises with the capability to solve core technology challenges in speech recognition, NLP, and TTS integration.”

Core AI helps enterprises optimize search and customer service experiences through digital virtual employees built on a no-code experience optimization platform. The comprehensive conversational AI platform offers features that easily handle multi-party conversations, including customer churn, interruptions, and corrections.