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SNUAI Labs CEO Yoo Myung-ho
“The first joint venture with the Seoul National University seal of approval” is how artificial intelligence startup SNUAI Lab Co. describes itself.Six professors from South Korea’s No.1 ranked university and other researchers in the fields of computer vision technology and Big Data processing founded the startup in 2019. Those who worked at Hanwha Techwin, formerly Samsung Techwin, also are part of the founding members. SNUAI Labs is an official subsidiary of the university – established with equity participation of the Seoul Techno Holdings, Inc. and the professors.Even though the company is relatively new, it is widely considered as the top player in South Korea's vision AI field. CEO Yoo Myung-ho said the future of artificial intelligence lies in its source technology. “Only companies supported by academic institutions can continue to invest in their research without short term profits,” Yoo claimed.The aim is to become an international AI company that will be superior to Hong Kong-based AI software provider SenseTime.On its website, SNUAI Labs explains it combines Big Data and Deep Learning technology to create products that extract data from video footages and utilize them accordingly. Visual representation of SNUAI's AutoCare solution As an integral part of artificial intelligence, vision technology is required across a wide range of industries – from smart factory systems to the future of mobility.Its main products are video surveillance solution called AutoCare MX and AI video security solution dubbed AutoCare VX.The Seoul National University subsidiary says its products can automatically conduct Deep Learning even on raw data. Not only that it can also run the machine learning processing with just 10% of the amount of data usually needed for AI solutions. The company's products also encompass super-resolution imaging and deblurring technology. Its main clients are POSCO ICT Company, Korea Western Power Co., and Ssangyong Information & Communications Corp. Household names like Samsung Electronics, Inc. LG CNS, and POSCO International are also included in the clientele list. SNUAI Labs aspires to strengthen joint development between the academia and businesses. SenseTime, which the South Korean startup is looking to model after, raised $740 million in its initial public offering (IPO), the fifth largest in Hong Kong last year. As the largest artificial intelligence company in China, SenseTime priced its initial public offering at 49 cents per share, raising $5.55 billion.SNUAI Labs, for its part, will begin its overseas expansion in Japan. Within this year, it will open a local office in Tokyo and raise 15 billion won ($12.3 million)."We will reduce the required learning material data by half and secure a diverse client portfolio that will lead to profit," Yoo said. By See-eun Leesee@hankyung.comJee Abbey Lee edited this article.
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