[Asia Economy Reporter Hyungsoo Park] Wise ITEC is showing strong performance. Its recognized technological capabilities in artificial intelligence (AI) and big data analytics, based on 32 years of experience, appear to be influencing its stock price. According to market research firm IDC, the global AI market, including super-large AI, is expected to reach $554.3 billion (approximately 700 trillion KRW) by 2024. Given the current pace of development, it is anticipated that AI performance will soon surpass the human brain. In fact, the U.S. AI research company OpenAI has declared its intention to create GPT-4 with over 100 trillion parameters by 2030. The human brain has about 100 trillion synapses.
As of 9:37 a.m. on the 20th, Wise ITEC is trading at 15,550 KRW, up 18.7% from the previous day.
Wise ITEC focuses its business on AI and big data. In the AI sector, it offers WiseProphet, an AI development platform that systematizes AI processes, enabling AI projects to be executed without coding. When users input the data they want to train on, the platform selects the most suitable algorithm from various options and visualizes the prediction results. It boasts scalability and versatility, allowing AI technology to be easily applied across diverse industries such as manufacturing, energy, education, and environment.
According to the "Corporate Perception and Status Survey on AI" conducted by the Korea Development Institute (KDI), 77.8% of companies responded that adopting AI technology helped improve business performance, but only 3.6% have actually implemented AI technology. This is due to a shortage of specialized personnel to develop and operate AI models from data collection to initial model creation. WiseProphet provides solutions to institutions and companies hesitant to adopt AI due to inadequate data environments, lack of experts, and difficulties in coding-based model development.
Researcher Jongseon Park of Eugene Investment & Securities stated, "The AI development platform, introduced domestically for the first time, is also contributing to earnings growth," and analyzed, "It is expected to drive earnings growth through securing industry-specific references and building key applications."
Wise ITEC’s big data sector can be divided into big data quality management and analysis. Big data quality management establishes data standards and minimizes duplication or errors to ensure data reliability. Big data analysis analyzes and visualizes large volumes of data from various perspectives to facilitate objective and effective data-driven decision-making.
Wise ITEC explained that AI and big data are deeply interconnected, and projects often combine the two fields. They possess total software (SW) for big data utilization, from quality management to analysis and AI prediction, which they provide according to customer demand.
They were the first in Korea to apply AI algorithms and automate data maintenance. Even without precise business rules, they detect outliers by analyzing data distribution and correlations. They automatically detect duplicate data by analyzing text data similarity.
To lead the early market of personalized learning in education, they established EduAI, an education AI specialist company, with Etoos Education in September 2020. In June 2021, they launched the first AI-based course recommendation service in the entrance exam education industry. Using various data such as learner progress, level, and mock exam scores, they provide personalized customized education called "Etoos AI," recommending tailored learning and lectures to 140,000 Etoos Education students.
They also launched 'AiDO,' an education-based AI product unique to EduAI. It offers various services in the edutech field, including personalized diagnosis and recommendations for gifted math microlearning, personalized recommendations for adult learners, and analysis for school record and entrance exam consulting.
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