Telecommunication companies based in Korea, Singapore, UAE and Germany launched the “Global Telco AI Alliance” at a ceremony held in Seoul on Thursday. It’s aimed at strengthening business cooperation and redefining traditional core businesses by securing new growth engines by incorporating artificial intelligence.
Key executives of SK Telecom, Singtel, e& and Deutsche Telekom signed a Memorandum of Understanding and agreed to jointly develop the “Telco AI Platform” by utilizing each company’s core AI capabilities. The platform is to play a vital role in the joint establishment of a core Large Language Model for the development of AI agents for each carrier.
SK Telecom said the biggest strength of the Telco AI Platform is that it allows each company to focus on increasing value through the localization of AI services and save capital when independently developing such a platform.
Also, the platform helps accelerate the release date of AI-powered apps that will deliver new AI experiences to their customers. The combined number of subscribers of these carriers surpasses one billion.
In addition, the companies decided to form a working group to discuss new investments, R&D for the platform development as well as support data and AI experts.
According to McKinsey’s report about the economic potential of generative AI, the new technology has the potential to add up to US$ 4.4 trillion annually to the global economy. The impact of generative AI will resonate particularly in four areas of business: customer operations, sales and marketing, software engineering, and R&D.