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

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SK Telecom invests $3 mn in AI-powered 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 as a machine learning model, in which various types of data including image, text, speech and numbers are combined with intelligence processing algorithms to yield sophisticated and accurate outputs.

South Korea’s top mobile carrier SK Telecom Co.said on Friday it will invest $3 million in Twelve Labs Inc., a Korean AI-powered video analysis startup, to use the startup’s technology in its AI agent services.