Hidden Value Doctorworks Accelerates Global Launch of Medical Specialized LLM Solution
Projected Large-Scale Profit This Year with Generative AI Data Growing Twice Annually
CrowdWorks is showing strong performance. It appears that securities firms' analyses, which suggest that the company will benefit from the emergence of multimodal AI such as OpenAI's ‘DALL·E3’ and ‘SORA,’ are influencing the stock price. OpenAI, which unveiled the AI 'Sora' that converts text into videos, has seen its valuation in the US grow nearly threefold to at least $80 billion (106.84 trillion KRW) in just over 10 months. According to market research firm CB Insights, OpenAI ranks as the third most valuable tech startup globally, following ByteDance, the parent company of TikTok in China, and SpaceX in the US.
As of 9:36 AM on the 19th, CrowdWorks is trading at 43,400 KRW, up 12.14% from the previous trading day.
Hana Securities expects CrowdWorks, which operates in the AI data business, to turn profitable this year. They estimate sales of 36.7 billion KRW and an operating profit of 7.3 billion KRW. This represents a 53.0% increase in sales compared to last year and a turnaround to profitability in operating income.
Researcher Jo Jeong-hyun of Hana Securities stated, "With the emergence of multimodal AI such as OpenAI’s ‘DALL·E3’ and ‘SORA,’ the demand for data necessary for foundation model training will surge," adding, "Demand will begin in earnest not only for high-quality text but also for image, voice, and video data." DALL·E3 and SORA are OpenAI services that convert text into images and videos, respectively.
He added, "CrowdWorks’ performance will grow this year as demand for multimodal AI data?including text, images, videos, and voice?increases, and sales from the new customized LLM service become visible." He further predicted, "Companies like CrowdWorks, which possess essential data processing platforms and technological capabilities for generative AI training, will experience structural growth."
Researcher Jo also noted, "CrowdWorks is a cloud partner of Naver Cloud and Microsoft," and forecasted, "Starting next year, expansion into cloud services will accelerate its external growth."
He also introduced, "Its subsidiary, DoctorWorks, is the only domestic medical-specialized LLM solution provider," and mentioned, "In November 2020, it launched Korea’s first medical crowdsourcing platform." Furthermore, he said, "About 1,200 specialists across 26 departments directly collect and process high-quality medical data," adding, "They have secured multimodal data covering all medical data sectors, including text, images, biosignals, and voice."
Researcher Jo stated, "Currently, they hold approximately 2.6 million medical data processing references," and predicted, "Using this, they will develop the LLM-based medical AI solution ‘DoctorWeb’ and actively pursue domestic product launches and entry into the North American market." He advised, "Given that global companies like Google and OpenAI are applying multimodal AI to the medical industry, attention should also be paid to the activities of the subsidiary DoctorWorks."
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