South Korea to invest KRW 2.2 trillion in AI sector by 2022

News IT Korea, Republic of 28 MAY 2018
South Korea to invest KRW 2.2 trillion in AI sector by 2022
South Korea plans to invest KRW 2.2 trillion (approximately USD 2 billion) in developing core artificial intelligence (AI) services by 2022, Yonhap news agency reports, citing a statement from the Korean ICT ministry. Under the project announced by the Ministry of Science and ICT, the South Korean government plans to launch a national program on AI, including research and development.

"The government believes obtaining AI core technologies by joining hands with private corporations will not only achieve global standard but eventually nurture talented people and quality jobs", said Chang Byung-gyu, head of a presidential committee in charge of powering the fourth industrial revolution. "We aim to reach the global top four by 2022", he added.

The ministry plans to initially power large AI projects in the fields of defense, medicine, and safety, government representatives said. The government intends to start a detailed research during the first half of this year to decide whether to conduct a R&D project on AI chips worth KRW 1 trillion. AI-based processors have huge potential for use in various deep learning technologies, such as neural network computations, the ministry said.

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