Hanwha Life AI Research Center Launches Broad Research from Asset Management to Ethics

Opening of AI Center in San Francisco, USA in December

Hanwha Life announced on the 19th that it launched the Hanwha Life Artificial Intelligence (AI) Research Institute in June and is conducting research projects through an industry-academic cooperation agreement with the Human-Centered AI (HAI) Institute at Stanford University in the United States.

The research topics of Hanwha Life AI Research Institute are broadly divided into four areas: ▲ Optimization of asset management portfolios using AI ▲ Development of personal digital personas using AI ▲ Deriving ways to integrate AI with the healthcare industry ▲ Research on global AI governance.

Hanwha Life 63 Building. Provided by Hanwha Life

The optimization of asset management portfolios focuses on finding ways to minimize investment risks and maximize returns. Through this, the institute plans to derive methods to enhance the efficiency of asset management.

Research will also be conducted to develop personal digital personas using AI technology. This aims not only to preserve individuals' precious memories as digital assets but also to explore ways for family and acquaintances to communicate with the deceased after their passing. There is also a plan to examine the potential for these digitized personal memories to evolve into services linked with insurance products in the future.

Considering the life insurance industry's close connection to human life and health, efforts are being made to integrate AI technology into the healthcare industry. Research will be conducted to develop AI-based healthcare services linked to personalized health management solutions and insurance products using AI technology.

Additionally, AI governance research involves establishing norms and standards for the development, utilization, and management of AI, as well as exploring regulatory frameworks. In collaboration with Stanford University, the institute aims to analyze AI usage practices in various countries and seek ways to ensure that AI technology does not undermine human safety, privacy, fairness, and ethical issues.

Hanwha Life has led digital innovation by establishing a Big Data TF team in 2014 and integrating AI technologies such as machine learning and deep learning into the insurance industry. The establishment of the AI Research Institute was also part of the digital innovation strategy to respond to the rapidly changing market environment through the convergence of AI technology and finance.

Stanford HAI is an institution primarily researching the impact of AI technology on humans and society. It is recognized as a leader in the field of human-centered AI development.

Kim Il-gu, head of Hanwha Life AI Research Institute, said, “Hanwha Life recognized the importance of AI technology early on and has made various efforts in the AI field, including developing proprietary technologies. Through this collaboration with Stanford HAI, we will analyze the impact of AI on society as a whole and actively utilize AI to enhance customer satisfaction and corporate competitiveness.”

Meanwhile, Hanwha Life has continuously promoted digital innovation, filing AI-related patents annually since 2020. In December, it plans to open the AI Center in San Francisco, USA, which will serve as an advanced base for strengthening global AI capabilities.