MGen Solution, a company specializing in artificial intelligence (AI) video analysis solutions, announced on July 9 that it has signed a memorandum of understanding (MOU) with KT to jointly develop converged services and create new markets.
This agreement is part of a collaboration between the two companies to develop differentiated converged services based on their respective core competencies and to enhance market competitiveness by identifying data-driven customers.
To this end, the two companies have agreed to cooperate closely in various areas, including the development of converged products, identification of target customers, and securing new customer contact points. In particular, they aim to provide optimized solutions to customers by combining KT's telecommunications and IT infrastructure technologies?including 5G, Internet of Things (IoT), cloud, and AI?with MGen Solution's AI video analysis capabilities.
In this partnership, KT will be responsible for providing telecommunications and IT infrastructure, collaborating on security and network management, and supporting B2B and marketing efforts. KT plans to offer technical and operational support so that MGen Solution can implement solution development more reliably and extensively. MGen Solution will focus on developing AI video analysis solutions based on KT's infrastructure, as well as discovering new markets by analyzing new market and customer needs.
A representative from MGen Solution stated, "By combining our technological strengths and capabilities through this agreement, we expect to create synergy through technological convergence," adding, "We will continue to jointly develop customer-centric smart services through ongoing collaboration and seek new growth opportunities together in the market."
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