Machinarax (CEO Seong-ho Yoon), an enterprise artificial intelligence (AI) specialist, announced on the sixth through its Latest Yr's address that it might advance its AI software and solution business and enter the worldwide market, starting with Japan.

The keyword that can’t be missed in 2023 is generative AI. The driving force behind the storm is, in fact, Open AI. ChatGPT is rapidly replacing language-specific roles similar to writing and translation. There was also a recent case where a financial company fired about 240 call center employees.

Nonetheless, it was said that ChatGPT cannot bring the identical innovation to ‘manufacturing staff’. The principal goal of producing AI is to create ‘AI that surpasses human capabilities.’

The reason is that special, diverse, and complicated problems exist at manufacturing sites. For instance, problems similar to detecting minute scratches on a display, controlling the energy system by considering a whole lot of environmental variables, or assembling hundreds of components on a PCB board in an optimal path.

In other words, specialized AI that has learned 'manufacturing data' beyond general data is required, but it surely just isn’t easy to search out a 'manufacturing AI key player' with relevant experience. It’s because manufacturers often don’t disclose equipment data, and manufacturing data is strictly managed to keep up site security.

In response, Machinalax said, “We can be reborn as a key domestic player.”

Global AI big techs similar to Open AI, Hugging Face, Weight & Bias, and Midjourney were named on the list of 'World's Top 100 AI Firms' announced in 2023 by CB Insights, a worldwide market research firm. The one domestic AI startup listed within the ‘manufacturing’ field on the list is Machinarax.

It was recently chosen as considered one of the ‘world’s most notable startups in 2024’ compiled by CB Insights. Among the many 345 names listed, Machinalax is the just one with a domestic headquarters.

Specifically, based on a World Economic Forum survey, the success rate of AI projects within the manufacturing and industrial sectors is lower than 15%. Nonetheless, Machinarax's AI project success rate was reported to be 66%. He introduced this as the explanation why the U.S. Applied Materials, Hyundai, SK, LG, Hanwha, and GS are investors and customers of Machinarax.

This yr, we plan to start full-scale business expansion based on the enterprise AI platform 'Runway' and specialized AI solution 'MRX' similar to robotics and rotors. Last yr and this yr, we signed partnerships with ▲Rockwell Korea (manufacturing automation) ▲EDS Korea (public) ▲GS Neotek (MSP, Managed Service Provider) ▲Friendly AI (LLM) ▲Snui Lab (machine vision), etc. Began developing a recent business.

Beyond the Korean and U.S. markets where we previously entered, we plan to further speed up our efforts to secure global customers, starting with Japan. Japan is a worldwide manufacturing powerhouse with manufacturing accounting for greater than 90% of total exports, and is taken into account a market with great growth potential and digital transformation of producing using AI.

Meanwhile, Machinarax was established with corporations in Seoul and Silicon Valley in December 2017. We have now been working to construct intelligent solutions with the vision of ‘solving industrial problems so that folks can deal with their work.’

As of January 2024, there are roughly 120 members, and roughly 75% of employees are engineers. The proportion of master's and doctoral degrees is roughly 45%.

As well as, we now have proven our global competitiveness by being named as 'World Economic Forum Global Innovator' and 'World's Top 50 High-Tech Manufacturing Startups of 2022', in addition to 'World Economic Forum Technology Leading Firms', followed by Google, Airbnb, and Pelantir Technology. there may be.

It has attracted attention from the investment industry since its inception. In May 2018, large domestic firms similar to SK Telecom, Hyundai Motor Company, and Naver D2 Startup Factory participated and attracted 1.8 billion won in seed investment. In Series A conducted in 2020, ▲LG Technology Ventures ▲Hyundai Motor Company invested 12 billion won. As of December 2023, pre-IPO investment has attracted 3 billion won, and as of January 2024, Machinarax's cumulative investment is 34 billion won.

Machinalax's major customers include the Agency for Defense Development, Kia Motors, Mando, Korea Insurance Development Institute, Samsung SDI, Smart Manufacturing Innovation Center, E-Mart, Corning, POSCO, Hanwha, Haesung DS, Hyundai Motor Company, Hyundai Steel, Applied Materials, and GS Caltex. , KG Steel, LG Electronics, SK On, SK Eco Plant, SK Innovation, SK Telecom, and SK E&S.

Last yr, it distributed greater than 4,000 manufacturing site AI models and won quite a few awards, including the President of the Korea Information and Communications Association Award on the Korea Artificial Intelligence Industry Awards and the Pohang Minister of SMEs and Startups Award for activating recent industry start-ups.

Seong-ho Yoon, CEO of Machinarax, said, “Even in Korea, there may be a trend predicting the complete introduction of producing AI inside the following three years.” He added, “In 2024, firms that can ride the golden time of producing AI and develop into the world’s most successful firms will begin in earnest.”

He added, “Macinalax can be one of the noteworthy gems this yr.”

Reporter Jang Se-min semim99@aitimes.com