Forum for Exchange Among ICT SMEs, Venture Companies, and Startups Opens
Artificial Intelligence, a Key Factor Widening the Gap in Future Business Competitiveness

A gathering was held to commend the achievements of exemplary companies that contributed to the Information and Communication Technology (ICT) industry over the past year, and to discuss the industry outlook and response strategies for the following year.

'ICT Inno Festa 2017' was held at COEX in Samseong-dong on the 19th. This year, a Demo Day for startup protection and investment attraction was held concurrently, serving as a venue for exchange among all ICT entrepreneurs.

The event featured an awards ceremony for exemplary ICT SMEs and venture companies, an ICT innovation technology seminar, an integrated accelerator demo day, and business consultations, attracting the participation of numerous entrepreneurs, startup incubators, and domestic and international investors.

Ryu Han-seok, Director of the Institute for Technology Culture, delivered a lecture on the topic of '2018 ICT Industry Issues and Outlook.' Director Ryu identified artificial intelligence, voice computing, chatbots, the Internet of Things, robots, 5G, edge computing, blockchain, virtual reality/augmented reality, and FaaS (Failure as a Service) as the trends for 2018.

In particular, it was predicted that artificial intelligence would be key to widening the gap in business competitiveness. It was emphasized that this would remain a critical point in most industries for a considerable period in the future. In addition, it was predicted that a business gap would be created depending on how new technologies are applied.

He stated, “In 2018, 30% of interactions with devices are voice-based. Amazon’s Alexa skills have exceeded 25,000,” adding, “In Korea, Naver, Kakao, and the three major telecommunication companies are releasing AI speakers, but there is a gap of about two years in technology and popularization compared to Amazon Echo.”

Looking at the satisfaction levels of Alexa skill users, many skills received high satisfaction in smart homes. Amazon has enabled the integration of Alexa with IoT devices used in the home, such as heating and cooling systems, lighting, and baby monitoring. Director Ryu explained, “Amazon does not manufacture all devices. We are integrating Alexa with devices from many partner companies.”

Introducing 'Sense.ly,' a virtual nurse solution that monitors patients before and after hospital visits, he pointed out that "Sense.ly is the next step after AI speakers and chatbots." He added that "the healthcare sector, where artificial intelligence can be directly integrated into lifestyles, will grow," and advised that small and medium-sized enterprises should keep overseas markets in mind, noting that it is legally difficult for them to utilize such services domestically.

At the awards ceremony held on this day, eight companies—Naver System, FR Tech, Minds Lab, Unmanned Solution, FiveGT, DSP One, Hunesion, and ESM Research Institute—were selected for the Korea ICT Grand Prize, and the recipients of the awards for meritorious service in the development of ICT information and communication SMEs were CEO Heo Seon-haeng of Cregen Solution, CEO Kim In-bae of Teleworks, CEO Jo Heun-woo of E3, and CEO Moon Seong-ju of TFE.

Domestic and international accelerator officials discussed global accelerator trends, and 19 selected promising startups showcased their technologies and services. The three major telecommunications companies and Samsung Electronics held a business consultation meeting to help small and medium-sized enterprises and venture companies commercialize their businesses.

Yang Hwan-jeong, Minister of Information and Communication Policy at the Ministry of Science and ICT, stated, “In the era of the Fourth Industrial Revolution, innovation stems from flexibility and speed,” adding, “I hope that our ICT SMEs and venture companies, equipped with flexibility, technology, and passion, will play that role.” He further stated, “The government will also make continuous efforts to create an ecosystem where global SMEs and venture companies can grow.”