Lotte Chemical Establishes AI-Driven Organization to Advance Process Optimization

AI Organization Established in February Tailored to Basic and Advanced Materials Business

Lee Hoon-ki, President and CEO of Lotte Chemical. Photo by Lotte Chemical

Lotte Chemical has established separate AI organizations tailored to the characteristics of its basic materials business and advanced materials business to strengthen data-driven research utilizing artificial intelligence (AI).

Lee Hoon-ki, the CEO who took office last December, conveyed in his New Year's message to employees, "We will actively utilize generative AI technology to enhance the fundamental value of our business across all areas of company operations and maximize efficiency," and instructed the establishment of a separate organization to advance AI technology and expand and accelerate its application scope.

Accordingly, the basic materials business has established an 'AI Solutions Team' at the Daejeon Integrated Technology Institute to develop AI-linked catalysts, product development, and quality improvement through the integration of accumulated R&D knowledge and AI. This team will consolidate AI tasks previously handled by related departments and use machine learning and deep learning techniques to improve product properties, predict catalyst characteristics, and perform simulation-based reactor design.

The advanced materials business has created a dedicated organization called the 'AI Promotion Office' to identify various issues arising across all business areas, including product development, production, and global supply chains, and to develop AI-based solutions aimed at improving efficiency and product quality. The newly established organization plans to introduce AI technologies necessary on-site, such as predictive equipment maintenance and optimal material combination simulations, to enhance the competitiveness of the specialty materials business.

Lee Hoon-ki, CEO of Lotte Chemical, stated, "In response to the eco-friendly material trend and environmental changes centered on consumers, and to transition to specialty materials and new business areas, we must not fall behind the AI trend. We will actively utilize AI technology in various ways to quickly commercialize accumulated research and technical know-how, along with strengthening cost competitiveness through operational efficiency, to rapidly drive innovation and differentiation for business advancement."