Seoul releases AI chatbot service to deal with foreign investment inquiries

By Kim Joo-heon Posted : August 19, 2022, 10:20 Updated : November 3, 2023, 15:33

[Courtesy of Seoul City]

SEOUL -- Seoul has released an artificial intelligence-based investment advisory service that deals with inquiries from foreign investors for 24 hours in English. It's been difficult for foreigners to receive counseling services due to the difference in time zones.
Chatbots communicate with customers through text conversations. Customers can choose to speak directly with human assistants if chatbots cannot provide a solution. Using a platform called "Invest Seoul," anyone can receive investment-related information without time and space restrictions. The chatbot has accumulated different information through some 15,000 dialogue simulations.
The chatbot can grasp the core of a sentence and provide proper answers even if users ask questions in a conversational style. The recognition rate of sentences becomes higher as more people use the platform. In a six-week pilot service from July 1, 11,257 questions were received from 68,044 users, showing a response success rate of more than 99 percent. The platform can be accessed on both PC and mobile.
"We hope the adoption of AI chatbots will reduce barriers to entry so that potential investors interested in investing in Seoul can receive the city's investment information at any time and from anywhere they want," Seoul official Jung Young-joon said in a statement on August 19. 
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