Kakao Bank signs partnership to establish AI research center for innovation in digital real estate and mobile banking
Posted: February 1, 2024 2:59 AM Updated: February 1, 2024 2:59 AM
Correction and fact check date: February 1, 2024, 2:59 a.m.
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Kakao Bank announced plans to build an AI lab at Digital Realty’s Seoul data center to improve customers’ mobile banking experience.
Kakao Bank, a mobile-only bank, announced plans to advance financial services by establishing an artificial intelligence (AI) research center. The infrastructure will be based at Digital Realty’s data center in Seoul.
The partnership aims to leverage technology to enhance the mobile banking experience and foster innovation in the fintech sector.
The AI Lab at the ICN10 Data Center will serve as a hub for Kakao Bank’s AI-based initiatives, accelerating service improvements, developing personalized content, and promoting new financial services research.
“With the opening of this AI Center, we have created an environment that can strengthen collaboration with the Kakao community, external academia, and companies. Hyuncheol Ahn, Chief Research Officer of Ahn Co., Ltd. said, “We plan to secure more customers and continue to grow by accelerating various AI-based businesses and research that require complex calculations such as generative AI and language models.” Kakao Bank.
According to Kakao Bank, the AI research center will be used to develop personalized content for mobile banking services. This may include personalized financial advice, product recommendations or tailored marketing messages based on individual customer data and preferences.
The bank also plans to utilize its AI lab to accelerate research and development into new financial services. This may include exploring innovative AI-based solutions to address new customer needs and market trends in the fintech sector.
Digital real estate implementing Kakao Bank’s AI initiative
Digital Realty provides the physical infrastructure needed to support Kakao Bank’s AI research lab. This includes high-performance computing resources, optimized cooling systems, and electrical and mechanical infrastructure to ensure uninterrupted operations.
Additionally, the company’s data center management and operations expertise will help support Kakao Bank’s AI initiatives. This includes ensuring the reliability, security and scalability of the data center environment to meet the bank’s changing needs.
Additionally, Digital Realty’s data center platform, PlatformDIGITAL, provides secure and high-performance access to datasets across the KakaoBank ecosystem. ICN10’s connectivity options, including dedicated access to AWS Direct Connect, allow KakaoBank to leverage cloud services for AI applications.
ICN10’s central location in Seoul Digital Media City provides Kakao Bank with a strategic advantage, minimizing waiting times and providing connectivity options to financial institutions’ data centers across the country.
Kakao Bank seeks to strengthen its technological capabilities, attract more customers, and maintain its growth trajectory in the dynamic environment of the fintech industry.
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Kumar is an experienced technology journalist specializing in the dynamic intersection of emerging fields including AI/ML, marketing technology, cryptocurrency, blockchain, and NFTs. With over three years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and providing comprehensive insights. Kumar’s specialty is producing high-impact content including articles, reports and research publications for prominent industry platforms. With a unique skill at combining technical knowledge and storytelling, Kumar excels at communicating complex technical concepts in a clear and engaging way to diverse audiences.
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Kumar is an experienced technology journalist specializing in the dynamic intersection of emerging fields including AI/ML, marketing technology, cryptocurrency, blockchain, and NFTs. With over three years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and providing comprehensive insights. Kumar’s specialty is producing high-impact content including articles, reports and research publications for prominent industry platforms. With a unique skill at combining technical knowledge and storytelling, Kumar excels at communicating complex technical concepts in a clear and engaging way to diverse audiences.