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AI & Enterprise

Park Se-woong appointed 11th president of ETRI, highlights AI, DX vision

Park Se-woong (박세웅), a professor at Seoul National University, has taken office as the 11th president of the Electronics and Telecommunications Research Institute (ETRI). ETRI held an inauguration ceremony on May 20 at its auditorium. Park presented a vision of opening a warm world through AI and digital transformation innovation. He said ETRI will serve as a full-cycle AI and ICT R&D platform and drive sustainable growth based on human-centred values.

AI & Enterprise

On-device AI startup Out of Set raises seed funding from TheVentures

TheVentures, an early-stage venture capital firm, said on May 20 it has made a seed investment in on-device AI startup Out of Set. The company develops ultra-light vertical AI models that run on devices without an internet connection, aiming to address limits of cloud AI such as privacy risks, network delays, high operating costs and server failures. Out of Set is initially targeting speech recognition and speech synthesis.

AI & Enterprise

Nota posts Q1 operating loss of 4.19 billion won, narrows 4.1 percent on year

Nota, an artificial intelligence lightweighting and optimization technology company, said on May 18 it posted first-quarter consolidated revenue of 3.58 billion won and an operating loss of 4.19 billion won. Revenue rose 5,240 percent from a year earlier and the operating loss narrowed 4.1 percent. Solution revenue accounted for 76 percent of sales. The company said its order backlog rose to 12.1 billion won, led by its platform business.