South Korean telecom giant KT Corp has announced a strategic collaboration with US tech behemoth Microsoft to strengthen the local artificial intelligence (AI) and cloud computing sectors. The partnership entails joint endeavors in AI and cloud research projects.
As per reports from Yonhap news agency, both companies plan to develop tailored AI, cloud, and IT services specifically tailored for the Korean market.
The partnership was officially cemented at Microsoft’s headquarters with Microsoft CEO Satya Nadella and KT CEO Kim Young-shub. This alliance seeks to leverage the respective strengths of both entities to drive innovation and enhance the accessibility of web services in South Korea.
KT CEO Kim Young-shub highlighted the potential of the collaboration in South Korea’s digital innovation space. With the partnership projected to accelerate social innovation through generative AI over the next three years, Microsoft and Hitachi plan to collaborate multibillion-dollar.
This collaboration is the first instance of Microsoft joining forces with a South Korean firm for AI innovations.
Bill Gates, chairman and chief software architect of Microsoft, expressed enthusiasm about the partnership’s potential to enhance web services for Korean citizens. He highlighted the opportunity for customers to seamlessly access their data, resources, and favorite services across devices.
Dr. Sang Chul Lee, president and CEO of KT, emphasized the strategic value of the alliance and its contribution to delivering world-class service to customers while advancing KT’s goal of full privatization.
Satya Nadella, chairman and CEO of Microsoft, emphasized the transformative potential of AI in ushering in a new era of business outcomes across various industries and roles.
Through this alliance, KT aims to continue growing as a global telecommunications leader. It will leverage its broadband infrastructure to provide Korean customers with access to next-generation web services and applications.
The strategic alliance between Hitachi and Microsoft aims to push the growth of Hitachi’s Lumada business, targeting a planned revenue of USD 18.9 billion by fiscal year 2024. This collaboration is expected to drive revenue growth and support operational efficiency and productivity enhancements for Hitachi Group’s vast workforce of 270,000 employees.
Currently, in the beta phase, the GenAI application is specifically designed to support daily financial management and digital banking, offering users an intuitive and user-friendly interface.
Meanwhile, KT is gearing up to strengthen data sovereignty and security, a top priority for the company, by leveraging Microsoft’s technological expertise to develop cloud and AI services.
This strategic collaboration aims to deliver security features to the public and financial sectors; KT aims to enhance data protection measures for its customers. Through this, KT seeks to support its standing as an “AICT” company by introducing Korean-style AI, cloud, and IT services.
Also Read:
- Science Ministry Orders Kakao to Improve Operations After Service Outages
- Hanwha Group Earns Coveted Spot on TIME100 Most Influential Companies List
- Archer Aviation and Kakao Mobility to Launch Electric Air Taxis in South Korea by 2026
- South Korea Launches KASA, Sets Ambitious Moon Landing Goal by 2032
- Tech Diplomacy: UAE President Sheikh Mohammed bin Zayed Al Nahyan Meets South Korean Business Leaders
