[Click eStock] "CrowdWorks Expands Domain with Manufacturing AI and Consumer AI"

On the 16th, Korea Investment & Securities analyzed that CrowdWorks is expanding its business areas to include manufacturing artificial intelligence (AI) and consumer AI.

Jung-in Park, a researcher at Korea Investment & Securities, stated, "In July this year, we signed an MOU with Sizzle, a manufacturing execution system (MES) company, for smart factory solutions and are currently developing X-MES." He explained, "X-MES is a product that combines CrowdWorks' vision sensor technology with Sizzle's MES technology."

He emphasized, "The process is digitized to analyze data such as production status and defect rates," adding, "It predicts defects in advance and notifies workers of issues beforehand, thereby improving production efficiency."

Researcher Park said, "The goal is to launch by the end of this year," and expressed expectations that "coupled with the increasing demand for AI in the manufacturing industry for cost reduction and production efficiency, there will be potential for external growth through manufacturing-oriented projects."

Additionally, he introduced, "In the fourth quarter of this year, we supplied our AI technology to the global camera app ‘Candy Camera,’ expanding our AI portfolio from primarily B2B to B2C."

He highlighted, "The facial recognition and AR technologies applied in the new version improved the accuracy of user face analysis," and added, "The function that interprets the physiognomy of the analyzed face utilized sLM ‘WorksOne.’"

Furthermore, he noted, "CrowdWorks acquired 3.5% and 9.09% stakes in Sizzle and CandyPlus Studio, the operator of Candy Camera, respectively," and predicted, "This not only enables long-term profit generation through development costs and revenue sharing due to service expansion but also allows for additional collaboration." Researcher Park advised focusing on the potential for CrowdWorks' AI technology to expand across the industry rather than short-term performance.

Sales in CrowdWorks' AI solutions division are rapidly increasing. In the third quarter of this year, AI solutions sales reached 1.7 billion KRW, a 96.3% increase compared to the previous quarter. Researcher Park explained, "Since its first release in September last year, it achieved the highest quarterly growth rate," and added, "The key to fourth-quarter performance lies in the transition from PoC to main projects with higher profitability in AI solutions and the recovery speed of the data engine, which is a major revenue source."