[Asia Economy Reporter Hyungsoo Park] Selvas AI is showing strong performance. It is interpreted that buying momentum is gathering as it achieved the largest-ever first-quarter earnings. News that major domestic companies such as Samsung Electronics and LG Electronics are competitively fostering virtual humans as a new growth engine also seems to have influenced this.
At 10:09 a.m. on the 18th, Selvas AI was trading at 8,540 KRW, up 13.26% from the previous day.
Selvas AI recorded consolidated sales of 12.1 billion KRW and operating profit of 1.7 billion KRW in the first quarter of this year. Sales increased by 40.2% compared to the same period last year, and operating profit turned positive. Jaeho Choi, a researcher at Hana Financial Investment, explained, "While most domestic AI companies recorded losses, Selvas AI not only turned operating profit positive but also recorded the largest first-quarter performance in its history."
He added, "Selvas AI has been preparing various projects since last year to expand new businesses based on artificial intelligence (AI) voice technology," and "is developing an interactive ‘virtual human’ together with Engine Visualwave and Wysiwyg Studios."
Furthermore, "It is developing an ‘idol digital twin’ with BPM Entertainment," and emphasized, "the digital twin will precisely reproduce the artist’s voice using AI voice technology to recreate concerts, fan sign events, and album releases in the metaverse."
He stated, "The digital twin will be unveiled in the second half of this year," and judged, "As tangible results in the metaverse field become visible, there is sufficient valuation re-rating potential."
Selvas AI is expanding its application range comprehensively in finance, the police agency, medical, and unmanned markets through productization based on AI voice technology. It is increasing its customer base in both public and private sectors by launching advanced new products. Selvas AI supplies its proprietary services to major companies such as Samsung Electronics, LG Electronics, SK Telecom, KT, LG Uplus, Samsung Life Insurance, Doosan Heavy Industries, Naver, Hyundai Motor Company, Kia Motors, KB Kookmin Bank, Woori Bank, and IBK Industrial Bank of Korea.
On the same day, Selvas AI announced that its voice recording solution ‘Selvy Note 2.0’ received the GS (Good Software) Certification Grade 1. Selvy Note 2.0 is an AI voice recording solution that automatically records, and passing the GS certification test procedure is significant.
GS Certification Grade 1 is the highest grade national quality certification system awarded by the Software Testing and Certification Institute under the Korea Information and Communication Technology Association (TTA). After acquisition, the product is designated as a priority purchase technology for public institutions and must pass nine rigorous test procedures including software functionality suitability, performance efficiency, usability, reliability, and security.
According to the industry, Samsung Electronics will apply the digital avatar ‘SAM’ to digital channels, social media, and Samsung online stores in the South American market within this month. Anna Karina Pinto, Samsung Electronics Brazil Marketing Director, explained, "SAM will play an important role in Samsung’s brand awareness strategy targeting young consumers, especially Generation Z," and "the goal is to strengthen the consistency of the Samsung brand." Samsung Electronics also unveiled the virtual human ‘Neon’ at CES 2020 and the AI assistant ‘Sebastian’ at CES 2022 in January.
LG Electronics also signed a memorandum of understanding (MOU) with Mystic Story last month and plans to debut Kim Rae-a as a singer within this year. LG is actively utilizing AI humans developed at the group level. The AI-based artist Tilda, developed by LG AI Research Institute, showcased fashion show outfits with designer Yoonhee Park at New York Fashion Week in February.
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