[Featured Stock] CrowdWorks to Build AI LLM Models with Naver and LG... Leading Data Labeling Provider

CrowdWorks is showing strong performance. The news that OpenAI, the developer of ChatGPT, has launched the GPT Store, an 'AI-based app market,' appears to be influencing the stock price. As the company accelerates the expansion of platform businesses utilizing ChatGPT and the large language model (LLM) GPT, growth in AI-related industries is expected to speed up.

As of 3:03 PM on the 11th, CrowdWorks is trading at 39,500 KRW, up 12.06% from the previous day.

Founded in April 2017, CrowdWorks is a leading domestic AI training data platform company that collects and processes data necessary for advancing AI technology. Under the long-term vision of 'AI & Human Resources Platform,' CrowdWorks strives to create an ecosystem where AI and humans can collaborate. Four months after its founding, it received an investment of 200 million KRW from Naver. Over the past six years, it has collaborated with more than 50 teams at Naver and is currently involved in building data essential for AI service development, including Naver's large language model (LLM) HyperCLOVA X. Among the top 30 KOSPI IT companies by market capitalization, 70% are CrowdWorks' clients.

The main business is providing data solutions necessary for AI development, offering customized services across all stages of the AI development value chain. Key products include 'CrowdWorks,' a crowdsourcing-based AI construction service, and 'Crowd Academy,' an educational service that trains personnel needed for AI data construction.

CrowdWorks operates by allowing the general public to participate in data labeling and share profits. The number of registered labelers reaches 500,000, making it the largest scale in the country. It holds a dominant position in the domestic data labeling sector and has secured major clients such as Samsung and Naver. Data labeling refers to the process of processing data such as images, documents, audio, and video so that AI can learn from it.

Lee Do-hee, a researcher at Korea Investment & Securities, explained, "CrowdWorks is pursuing a new business as an LLM platform that provides models and services necessary for the introduction of customized ultra-large language models." He added, "It is a data construction partner for major domestic clients such as Naver, LG Exaone, and KT Mideum."

He continued, "Since signing a B2B solution partner contract with Naver HyperCLOVA X in October last year, they have been strengthening collaboration in various areas. With the transition from the PoC stage project to the main project, we expect the LLM segment's revenue to become visible in earnest."

CrowdWorks has been selected as one of the '2024 Emerging AI+X Top 100 Companies' for four consecutive years.

The '2024 Emerging AI+X Top 100 Companies' are selected by the Artificial Intelligence Industry Association (AIIA), a corporation under the Ministry of Science and ICT. These 100 leading domestic companies are recognized as emerging companies with promising future value, driving future innovation through convergence with various industries (X) based on AI technology. CrowdWorks has been awarded in the AI Data Infrastructure category for four consecutive years since 2020.

CrowdWorks is a crowdsourcing-based AI training data construction platform company that provides data and customized LLM model construction services to over 500 clients across various industries, including Naver, LG, Hyundai Motor Company, the Bank of Korea, and KB. As of the third quarter of last year, its cumulative consolidated sales increased by 132% compared to the same period last year, setting a record high.

CrowdWorks holds a 57.6% stake in DoctorWorks, a specialized medical AI data platform with 26 divisions and over 1,100 advisory medical personnel. Using its own platform, it provides comprehensive services covering medical data collection, processing, verification, and consulting. The cumulative number of processed, verified, and quality-checked cases is approximately 2.6 million.