[Click eStock] "Shinsegae I&C Plays a Pivotal Role in Group's AI Adoption"

ResearchAlum stated on the 10th that SI companies leading IT system integration and digital transformation in large corporations will secure new growth opportunities, and expected Shinsegae I&C to be reevaluated.

Choi Seonghwan, a researcher at ResearchAlum, explained, "Shinsegae I&C is leading new changes within the group through digital innovation utilizing generative artificial intelligence (AI)," adding, "It operates around four core business sectors: AI-based smart retail, cloud services, AI-data analysis, and security solutions."

He continued, "It is taking the lead in Shinsegae Group's distribution innovation," and added, "Given that Shinsegae Group owns various distribution channels such as Shinsegae Department Store, E-Mart, Starbucks Korea, and SSG.com, if AI technology is fully introduced, Shinsegae I&C will play a pivotal role."

He noted, "Jung Yongjin, chairman of Shinsegae Group, announced a vision since 2018 to innovate offline stores into AI and data-based smart retail," and predicted, "There is a high possibility that the group’s SI provider will grow into a platform company utilizing AI and data analysis rather than just an SI provider within the group."

Researcher Choi analyzed, "Shinsegae I&C launched the integrated smart retail tech brand Spharos in 2021," adding, "It is leading retail innovation by integrating AI and cloud technologies." He further explained, "Spharos means a smart partner that helps companies grow and, like a lighthouse (Pharos), presents a new direction for retail and illuminates the future."

Additionally, he emphasized, "They are supporting Shinsegae Group’s logistics automation by developing AI-based logistics and supply chain optimization solutions," and added, "They are also applying technology that enables identifying popular products by store and real-time price adjustments through AI-based inventory and demand forecasting systems."