Eight leading players of the Digital New Deal have spurred innovation across data, artificial intelligence, and contact-free industries.
The Born2Global Centre released an article that highlights the Korean Ministry of Science and ICT (MSIT)’s Korean Digital New Deal. As part of the Korean government MSIT, Born2Global Centre has played a crucial role by connecting Korean startups with various opportunities worldwide.
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As the COVID-19 pandemic halted most in person economic activities, we now live in an era where digital transformation based on cutting-edge technologies is a necessity.
We’ve witnessed businesses emerging from the pandemic crisis to become leading players in many industries. The common trait that these companies have is that they are armed with remarkable digital technological capabilities.
As having digital prowess makes or breaks businesses in this pandemic era, this year the Digital New Deal — an initiative that the Korean government has carried out since last year — played a pivotal role in maximizing the digital capacity of Korean tech companies. Some of the participating companies in the initiative generated great outcomes across many industrial sectors.
More than one year into the national-level policy, the Ministry of Science and ICT selected 27 outstanding Digital New Deal performances and “Eight Key Players of 2021.”
The eight key players include Crowdworks, Modusign, Pluxity, Alchera, Douzone Bizon, Wisenut, Ubion, and i-Scream edu. The ministry recognized these companies for their great contributions in enhancing their existing advanced data and AI technologies and applying them across all Korean industries.
Crowdworks revitalizes Korea’s data markets
Among the eight key players is Crowdworks, a tech firm that collects and processes data used for AI-powered services. Being part of the Data Dam project, one of the Digital New Deal’s core components, the firm established data for AI learning to address “deepfake” technology by identifying fake videos. In the process, it hired around 5,000 people tasked with establishing and examining collected data, which the ministry said led to job creation across the nation.
“Crowdworks played a crucial role in building data infrastructure and revitalizing domestic data markets,” said the ministry.
Pluxity digitalizes manufacturing process systems
Another key player Pluxity owns a “digital twin” solution that uses real world data to create simulations that can predict how a product or process will perform. As part of the AI Fusion project, the tech firm set up kiosks at subway stations in Busan, providing digital twin-powered services which help people determine the best routes to their destinations. From January to October this year, the kiosks offered around 7,000 services, especially helping the vulnerable, including those with disabilities and the elderly, to find their way. The technologically empowered system resulted in reducing people’s travel time by 25 percent on average.
“Pluxity has contributed to innovating process systems and infrastructure in the manufacturing industry which led to safer and more productive environments for the public,” said the ministry.
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Alchera disseminates Korean AI technology
Alchera is a leading company in AI-based face recognition. The company developed solutions that identify faces in three-dimensional (3D) images that are recognized and analyzed by AI-powered deep learning technology. They put these solutions in place at facilities such as airports, enhancing the security and efficiency of gate access management.
In December last year, this state-of-the-art technology made Alchera the first AI company to be listed on the KOSDAQ and attracted investments worth roughly KRW 49 billion (USD 41.2 million).
Douzone Bizon makes working environments ‘smart’
Douzone Bizon is a developer of AI-powered e-business solutions. Based on the collection and analysis of 1,840,000 data collected from enterprises, the firm provides AI services for strategic enterprise management involving, for instance, accounting, human resources, logistics, and inventory. Its solutions have been installed at more than 20,000 companies thus far and have garnered about KRW 500 billion (USD 421.2 million) from both domestic and foreign investors.
“Douzone Bizon’s big data-based platform has improved enterprise process and management in a smart way. Thanks to the technology, businesses enjoy more efficient working environments and safer data management,” the ministry said.
The list of 2021 Digital New Deal key players also includes the cloud-based electronic contract company Modusign, the AI chatbot provider Wisenut, and lastly e-learning software developers Ubion and i-Scream edu. The ministry lauded the companies as innovators that fueled non-face-to-face, AI- and cloud-based technology across all Korean industries.
“Next year, the government will continue to support the growth of Korean tech companies in the markets by investing an additional KRW 9 trillion into the Digital New Deal programs,” said Second Vice Minister of Science and ICT Cho Kyeong-sik, “We will do our best to accelerate digital transformation and further expand the remarkable outcomes of the Digital New Deal across the nation and to many other sectors,” he added.
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