SK Networks launches AI lab in Silicon Valley

SK Networks launches AI lab in Silicon Valley

Published: 26-04-2024 09:32:00 | By: Pie Kamau | hits: 1709 | Tags:

To set its sights on the forefront of innovation, South Korean-based SK Networks has founded an AI lab, 'PhnyX Lab' in Silicon Valley.

With a visionary mission to "usher in the Civilization of Humanity through the Democracy of AI," PhnyX Lab has been established to harness and internalize the AI prowess of SK Networks. Positioned to ascend as an AI-centric enterprise, this organization is propelled by a team of four highly skilled local personnel with exceptional development prowess. The team, consisting of researchers from Stanford University along with master's and bachelor's degree students, brings a wealth of experience in spearheading multiple AI projects. They are primed to lead the development of AI products and pioneering solutions through collaborative endeavors with SK Networks and its subsidiaries in the coming days. Specifically, their focus will be on actively pursuing AI-related technology development, AI service verification and market testing, and the internalization of AI capabilities linked to global advanced technologies.

SK Networks' strategy is to continuously introduce AI-based services that can compete on a global scale, leveraging PhnyX Lab's professional capabilities and local connections. Through this approach, not only will PhnyX Lab's technical know-how and overall business improve, but industry collaborations will also get a boost, ultimately cementing SK Networks' status as a leading AI company.

Sunghwan Choi, President and COO, SK Networks: "PhnyX Lab stands as a formidable innovation hub with world-class competitiveness, equipped not only to conduct future research on cutting-edge AI technology but also to devise tangible business utilization plans, such as business model development." He stressed, "Through PhnyX Lab, we will ramp up our efforts to establish a strong foothold in the U.S. while also driving forward AI development for numerous companies."

SK Networks has been strategically bolstering its capabilities to solidify its position as a top player in the AI industry. Broadening its horizons, the company has established Hicosystem, a network of experts in the global technology and investment industry. Since launching the U.S. hyperscale data center fund in 2020, it has ventured into AI-based device startup 'Humane', unmanned tractor automation solution company 'Sabanto', and smart farm startup 'Source.ag'. Last year, SK Networks fortified its position as an AI service company by acquiring 'Encore', a prominent domestic data management and solutions company.

Moreover, earlier this year, SK Networks invested in 'Upstage', a key player in the private LLM market, aiming to identify a model linked to its business and reinforce the AI ecosystem. The company plans to triple operating profits by 2026 through the integration of AI into key ventures like SK Magic, Encore, and Walkerhill.

www.sknetworks.co.kr