Ernest AI (CEO Sanghoon Seo, hereinafter Ernest AI), a financial specialized artificial intelligence (AI) solution company, announced on the 14th that it signed a memorandum of understanding (MOU) with KT (CEO Youngseop Kim) on the 13th to expand its AI business in the financial sector.
This agreement is part of a strategic collaboration to fully advance into the domestic financial artificial intelligence transformation (AX: AI Transformation) market by combining Ernest AI's vertical (industry-specific) AI technology with KT's cloud, data infrastructure, and enterprise business capabilities.
Through this agreement, the two companies plan to pursue cooperation in three major areas: ▲joint development of AI services in the financial sector, ▲collaboration on AI modeling based on data intelligence, and ▲expanding customized AI services by industry.
In particular, KT plans to implement AI services that can be immediately applied to financial practices, such as credit ratings, loan screening, risk analysis, and fraud detection (FDS), leveraging Honest AI's "Lending Intelligence" technology, on KT's platform. Furthermore, collaboration will be underway to develop machine learning (ML) models that support hyper-personalized marketing, in conjunction with KT's data intelligence business.
According to industry sources, while AI adoption is expanding across various industries, general-purpose AI platforms are seen as limiting their effectiveness when it comes to tasks requiring industry-specific expertise. This collaboration is noteworthy in that it addresses this market demand by integrating Honest AI's technology, proven in actual financial institutions, into KT's infrastructure, thereby increasing its practical applicability.
Ernest AI has previously applied AI to financial fields requiring advanced analysis through collaborations with Jeju Bank, Shinhan Savings Bank, and others. Through this collaboration with KT, Ernest AI is attempting to expand into a broader corporate market.
Seo Sang-hoon, CEO of Ernest AI, said, “In the AI era, companies need a ‘compass’ to guide their direction for continued navigation,” and added, “By combining KT’s cloud and data capabilities with Ernest AI’s financial AI technology, we will provide AI solutions that can be utilized by actual companies.”
KT Enterprise Division Head Ahn Chang-yong said, “Ernest AI is a company with proven technology in the financial sector,” and added, “Through this agreement, KT will actively support both companies to create tangible business results.”
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