Seoul, Nov 26 (IANS) The state-run Korea Development Bank (KDB) signed an initial agreement on Tuesday with the US artificial intelligence (AI) research firm OpenAI to jointly foster the growth of AI ecosystem in the country, bank officials said.
Under the memorandum of understanding (MOU), the two sides will collaborate to boost the local AI ecosystem and facilitate the development of Korean language-based AI models, they added.
This marks OpenAI’s first MoU with any South Korean entity, reports Yonhap news agency. “The sophistication of the AI industry will be the gauge of national competitiveness from now on, and KDB will work as a government affairs coordinator for OpenAI to help the company operate in South Korea,” KDB Chairman Kang Seog-hoon said.
OpenAI’s chief strategy officer Jason Kwon said in a press release that South Korea is a leading country in the field of AI and the MOU agreement with KDB has been made under the “common” goal of the two sides to advance Seoul’s AI ecosystem.
Meanwhile, the rate of online searches via Naver, South Korea’s leading internet portal operator, in the country has seen a significant drop over the past nine years amid growing competition, an industry report showed last week.
The Korean portal giant took up a 57.32 percent share of the domestic search engine market in the first 10 months of this year, followed by global search engine Google at 33.9 percent, according to the report by the Institute of Information & Communications Technology Planning & Evaluation.
The report said AI technology shifted the paradigm of the search market after OpenAI’s ChatGPT, a generative AI model, was released in 2022, from offering a list of information to users’ questions to providing a more customized and summarized answer.
This year, foreign search engines with AI features, including those of Google and Microsoft, showed sharp growth in the domestic market, according to the report.
–IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
