[Asia Economy Reporter Hyungsoo Park] Wise ITEC is showing strong performance. Wise ITEC plans to introduce an intelligent application static analysis tool by acquiring Archive Technology, the industry leader in static analysis, and combining static analysis technology and know-how with AI technology. Existing static analysis tools derive problems and improvement measures based on predefined rules, but Wise ITEC intends to automate and intelligentize this process by applying AI algorithms. Similar to the recently spotlighted conversational AI service 'ChatGPT,' it is expected that the static analysis tool will enhance its performance and enable interaction with users by curating source codes suitable for quality managers and developers or issuing warnings when security risks are detected.
As of 9:48 AM on the 24th, Wise ITEC is trading at 17,890 KRW, up 4.31% from the previous day.
Wise ITEC has been recognized for its technological capabilities in AI and big data analytics based on 32 years of experience. In 2018, it developed ‘WiseProphet,’ Korea’s first AI development platform. This platform systematizes AI processes, allowing AI projects to be executed without coding. When users input data they want to train on, the platform selects the most suitable algorithm from various options and visualizes the prediction results. It possesses scalability and versatility, enabling easy application of AI technology across diverse industries such as manufacturing, energy, education, and environment.
Researcher Sangguk Lim of KB Securities explained, "Sales of the AI development platform WiseProphet surged 123% year-on-year to 9.5 billion KRW," adding, "This contributed to the overall sales increase." He further emphasized, "Among AI-related companies, Wise ITEC stands out as a consistently profitable firm."
Researcher Jongseon Park of Eugene Investment & Securities analyzed, "The AI development platform, introduced first in Korea, is also contributing to performance growth," and forecasted, "Performance growth is expected to be driven by securing industry-specific references and building key applications."
Wise ITEC is steadily expanding its AI business. To strengthen expertise in data quality and accelerate business expansion, it acquired Archive Technology, a software static analysis company. Archive Technology, the industry leader in static analysis, has been incorporated as a 100% subsidiary. This M&A strategy is understood to reduce the time and cost required for technology internalization, thereby enhancing competitiveness.
Archive Technology is a software quality specialist company that develops static analysis tools for source code diagnosis and improvement. It analyzes application source code and databases to measure change impact and provide quality evaluation information. It integrates distributed infrastructure management and improves understanding of applications to enhance development and maintenance productivity. It holds the largest number of implementations of impact analysis systems in the financial sector, which values system performance and stability, including KEB Hana Bank, Shinhan Bank, Bank of Korea, NH Nonghyup Bank, Hana Card, and Kakao Pay.
Kim Jonghyun, CEO of Wise ITEC, stated, "As system scales grow larger and more complex with the integration of various new technologies, implementing AI-based code analysis and generation systems will improve development productivity and facilitate maintenance." He added, "We expect strong synergy by combining the technological capabilities of Archive Technology and Wise ITEC and leveraging a solid sales network."
Benefits from government policies are also anticipated. On the afternoon of the previous day, Deputy Prime Minister and Minister of Education Jooho Lee held a briefing at the Government Seoul Office and announced the ‘Digital-based Education Innovation Plan.’ The core is to provide customized education to students using advanced technologies such as AI in the era of digital transformation. AI-based digital textbooks will be developed either solely by existing textbook publishers or in collaboration with edutech companies. The Ministry of Education plans to create guidelines for digital textbook development by August and conduct digital textbook certification reviews in the first half of next year.
The news that AI-based digital textbooks for mathematics, English, and information subjects will be introduced from 2025 for 3rd and 4th graders in elementary school, 1st graders in middle school, and 1st graders in high school appears to be influencing the stock price.
Wise ITEC established Edu AI, an education AI specialized company, in September 2020 with Etoos Education to lead the early market of personalized learning in the education sector. In June 2021, it launched the AI-based course recommendation service, the first in the entrance exam education industry. Utilizing various data such as learner study status, level, and mock exam scores, it provides personalized customized education ‘Etoos AI’ recommending necessary learning and lectures to 140,000 Etoos Education students.
Edu AI also launched its own education-based AI product called 'AiDO.' 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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