KT to Promote AI-Based Digital Transformation Project with Upstage

KT announced on the 28th that it will collaborate with Upstage in the business-to-business (B2B) sector. They will jointly promote digital transformation (DX) projects in the paperless (fully electronic office environment) field using artificial intelligence (AI).

KT and Upstage signed a memorandum of understanding (MOU) related to this on the 27th at the KT Songpa Building in Songpa-gu, Seoul.

KT Park Jeong-jun, Head of Enterprise Customer Division (left), and Upstage CEO Kim Seong-hoon are taking a commemorative photo after signing an MOU at the KT Songpa Building in Songpa-gu, Seoul on the 27th.

Starting in 2025, with the mandatory ESG disclosure, the demand for companies to convert and store electronic documents to minimize paper documents is significantly increasing. According to the "2022 Electronic Document Industry Survey Results" compiled by the Korea Internet & Security Agency, the sales scale of electronic document-related businesses last year was 9.5114 trillion KRW. In particular, the B2B sales portion accounted for 73.1% (approximately 6.9528 trillion KRW) of this. It appears that many companies are actively utilizing paperless solutions for DX in office environments.

KT and Upstage will integrate Upstage's AI optical character recognition (OCR) technology, which recognizes text in documents and extracts key data, with KT's various paperless services.

The two companies have agreed to ▲ cooperate on paperless business and provide consulting services such as electronic document conversion for B2B customers in finance, distribution, manufacturing, and medical sectors ▲ apply AI optical character recognition (OCR) solutions and strengthen cloud-based paperless DX solution product lines ▲ promote joint promotions and expand sales and marketing targeting the B2B market.