KSD's Generative AI Internal Network Designated as Innovative Financial Service

Path Opened for Generative AI Utilization on Internal Networks
Designated as an Innovative Financial Service by the Financial Services Commission

On July 1, the Korea Securities Depository (KSD) announced that it has laid the groundwork for business innovation by enabling the use of generative artificial intelligence (AI) within its internal network.

Previously, on June 25, the Financial Services Commission designated KSD's "generative AI service available on the internal network" as an innovative financial service.

This designation marks the first time among financial-related institutions that a regulatory framework has been established for the introduction of generative AI services in an internal network environment. It is expected to serve as the starting point for AI-driven business innovation at KSD going forward.

Until now, KSD has continuously prepared to utilize generative AI in its operations by establishing a dedicated AI organization, conducting proof-of-concept (PoC) tests, and seeking advice from an IT and information security advisory committee composed of relevant experts. With the designation as an innovative financial service, KSD plans to develop and provide a generative AI portal and pilot services (legal secretary and coding assistant) to employees within this year.

KSD stated, "We expect the use of generative AI to improve employee productivity, strengthen our competitiveness, and provide indirect benefits to KSD's customers." The organization added, "Building on the designation as an innovative financial service, we will continue to discover and advance new services that incorporate generative AI technology." KSD also noted, "By engaging AI venture companies in the development of these services, we will contribute to the growth of the AI industry and support the new government's policy to position Korea as a global AI powerhouse."