SK Telecom invests $3 mn in AI-based video analysis startup Twelve Labs

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SK Telecom invests $3 mn in AI-based video analysis startup Twelve Labs - Korea Economic Daily

Quick Summary:

SK Telecom said Twelve Labs will join the K-AI Alliance, a group of Korean companies promoting AI technology, to collaborate with other members in fostering Korea’s AI ecosystem.“Through the partnership with SKT, we look forward to providing our video foundation models to various industry use cases and provide real value in daily workflows in the ecosystem,” said Jae Lee, CEO of Twelve Labs.

Lee Jae-shin, head of AI Growth Strategy at SK Telecom, said: “Through the cooperation of the two companies, we will further strengthen our competitiveness in the multimodal AI field.”TWELVE LABS’ AI TECHMultimodal AI is used for a machine learning model, in which various data types including image, text, speech and number are combined with intelligence processing algorithms for accurate and sophisticated outputs.

In March, Twelve Labs released the multimodal model Marengo-2.6, which enables various video, text, image and audio search tasks and also launched a beta version of Pegasus-1, which is specifically designed to understand and articulate video content.