South Korean tech company LG Electronics will partner with Canada-based artificial intelligence (AI) technology startup Element AI to advance AI technologies with software research and development. The two firms hope to apply the technology to home appliances and services.
LG Electronics and Element AI formed a strategic partnership holding a business agreement ceremony during the Consumers Electronics Show 2020 in Las Vegas, the U.S.
Present in the ceremony was Element AI’s Chief Executive Officer Jean-Francois Gagne and LG’s Chief Technology Officer Park Il-pyung.
Jean-Francois Gagne and Nicolas Chapados, with Montreal University Professor Yoshua Bengio, founded the startup Element AI in 2016. The company is a leader in the development of AI software that can be applied in various industries such as electronics, finance, manufacturing, and distribution industries.
Professor Yoshua Bengio is a world-renowned scholar in AI technology specializing in artificial neural networks and deep learning. Professor Bengio has also partnered with Samsung Electronics on some AI projects.
LG and Element AI intends to conduct joint research and development on numerous technologies that apply to various products and services prioritizing user experience.
LG CTO I.P. Park stated that the collaboration between LG Electronics and Element AI will accelerate the development of AI technologies and will create a standard giving a clear direction for a higher value. The partnership will provide consumers and society with higher value through the advancement of artificial intelligence.
Element AI CEO Jean-Francois Gagne expressed his great pleasure with the two companies’ strategic partnership. He said that AI technology would help people live better and smarter, putting the experience of the consumers first and foremost.
Park and Gagne also attended LG’s global media conference, which was held at the Mandalay Bay Hotel in Las Vegas on Monday. They delivered their speeches on the advancement and numerous possibilities of AI technology.