"To Become a Bridgehead for AI Transformation in Venture Companies"... Launch of AX Bridge Committee

'AX Bridge Committee Launch Commemorative Forum'
Discussion on AI Transition Strategies for Venture Companies

The Korea Venture Business Association has taken the first step to enhance the artificial intelligence (AI) competitiveness of ventures and to present the direction of artificial intelligence transformation (AX).

On the 1st, the Korea Venture Business Association held a forum commemorating the launch of the AX Bridge Committee at Ancloud Space in Gangnam-gu, Seoul. This forum was organized to announce the launch of the AX Bridge Committee and to support ventures in their AX efforts. AX is a concept that pursues corporate transformation centered on artificial intelligence, going beyond digital transformation (DX).

Participants are taking a commemorative photo at the 'AX Bridge Committee Launch Forum' held by the Korea Venture Business Association on the 1st at Encloud Space in Gangnam-gu, Seoul.
[Photo by Dayeon Yeom]

The AX Bridge Committee was established to support ventures facing practical challenges in formulating AI response strategies. The committee plans to investigate the current AI awareness and policy demands of ventures, convey the industry's voice, and help create a venture ecosystem for the AI era.

The forum was attended by about 90 people, including Seong Sang-yeop, chairman of the Korea Venture Business Association, AX Bridge Committee operating members, and representatives of leading ventures and startups in the AX field.

Lee Joo-wan, chairman of the AX Bridge Committee, who gave a presentation titled "AI, is Now," explained, "Through related surveys, we confirmed that ventures feel the necessity of AX but lack concrete strategies and information. The committee was launched to serve as a bridgehead to achieve synergy effects by combining AI with companies ranging from traditional industries to tech companies."

According to a survey conducted by the Korea Venture Business Association targeting 88 venture companies, more than half of the respondents (53.4%) were found not to have an accurate understanding of artificial intelligence transformation. The main difficulties in adopting AI were the lack of technical experts (71.4%), followed by excessive initial investment costs (68.1%), and lack of related specialized information (54.9%).

Lee Joo-wan, Chairman of the AX Bridge Committee, is delivering a keynote presentation at a forum hosted by the Korea Venture Business Association.
[Photo by Yeom Da-yeon]

Chairman Lee stated, "Since manpower, cost, and information shortages were identified as the main difficulties in AI adoption, we plan to provide support to address these issues. We will connect the voices from the field to government policies and help reduce costs through connections between various tech companies and ventures, as well as link industry experts within companies with AI technical experts," presenting a response strategy.

Following this, case presentations from companies operating AX businesses were held. Lim Jae-won, CEO of GoPizza, explained the necessity of AI adoption in the food service industry, saying, "Since Korea's dining market has the most intense competition worldwide, going overseas is not an option but a necessity. GoPizza was able to go global by providing differentiated products and experiences not only to franchise stores but also to customers based on food tech."

CEO Lim said, "We manage stores by scoring each pizza slice's toppings and sauces through AI. By digitizing precise recipe training and cooking processes, we provide a standardized service worldwide." GoPizza expects to grow from about 200 stores last year to around 2,000 stores this year.

Next, Kim Dong-hwan, CEO of AI language intelligence startup FortyTwoMaru, and Kim Tae-soo, CEO of big data analytics platform Mobigen, also shared strategies and solutions for AX adoption. Oh Jeong-sik, senior manager at Naver Cloud, introduced Naver's case and suggested directions for ventures' AX.

After the case presentations, a talk concert on the theme "Opportunities Brought by AX" was held. Moderated by science communicator Kang Sol-bin, ventures shared their AX experiences and explored future business strategies.

On this day, Seong Sang-yeop, chairman of the Korea Venture Business Association, said, "As the great transformation to AI has become an irreversible trend, I hope that this forum will serve as an opportunity to present a successful AX roadmap for ventures. The AX Bridge Committee will strive to move forward in a direction that is not just talk but actually effective and helpful to companies."