Kakao's AI development wing to kick-start $7.6 mln fund to commercialize hyperscale AI

By Park Sae-jin Posted : February 27, 2023, 10:46 Updated : February 27, 2023, 10:46

[Courtesy of Kakao]

SEOUL -- Kakao Brain, the artificial intelligence development wing will kick-start a fund worth up to 10 billion won ($7.6 million) during the first half of 2023 to commercialize the company's AI-based image generation application.
Hyperscale AI refers to AI technologies and techniques at a massive scale to solve complex problems and process an enormous amount of data. Hyperscale AI is often used in natural language processing and AI-based image generation. AI image generation relies on countless datasets of images studied by AI. Image generation service offers unique images created based on users' demands.
According to Acumen Research and Consulting, a market research firm, the global generative AI market will grow at an annual average growth rate of 34.3 percent to reach $110.8 billion in 2030. Generative AI services can produce on-demand images and text. Small companies can use such services to save manpower costs.
Kakao Brain said that the company will launch the "Karlo 100X Project," a commercialization fund for Kakao Brain's AI image generation application programming interface (API) called "Karlo." Four startups will be selected to participate in the funding project to accelerate the commercialization process of the AI image generation API.
Earlier in February, Kakao CEO Hong Eun-taek said during a conference call, "AI-created content will gain competitiveness in the future. We will introduce AI-based vertical services, beef up our AI capabilities, and maintain our price competitiveness."
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