Qraft Technologies and LG AI Research Enter Strategic Partnership
August 10, 2023 09:00 AM Eastern Daylight Time
SEOUL, South Korea--(BUSINESS WIRE)--Qraft Technologies, a leading invest-tech company developing artificial intelligence solutions, has formally entered into a strategic technology research partnership with LG AI Research, an artificial intelligence research hub of LG group, with the signing of a Memorandum of Understanding (“MoU”).
“We look forward to building a better, AI-driven future.”
Through this partnership, Qraft and LG AI Research intend to collaborate on exploring new ways to leverage both firms' unique and cutting-edge approaches to big data processing and artificial intelligence capabilities.
“Embarking on this partnership with LG AI Research is an honor for Qraft,” remarks Marcus Kim, Founder and CEO of Qraft. “LG AI Research is a leading AI research company thriving to make our lives better through advancing state-of-the-art AI technologies. LG AI Research’s mission perfectly aligns with our mission at Qraft: Transforming Investing with Artificial Intelligence. We believe the advanced technologies of Qraft and LG AI Research can have a strong impact on the investment management industry and expand the boundaries of applications in this space. Through this partnership, our shared aspiration is to deliver advanced AI solutions together,” added Marcus. “We look forward to building a better, AI-driven future.”
Kyunghoon Bae, Chief of LG AI Research, said, “LG already demonstrated its forecasting technologies on demand forecasting of a global company, and such forecasting models can be valuable tools for the corporate decision-making processes. The partnership with Qraft represents another significant stride toward its application in diverse fields including the stock market."
Qraft Technologies aims to provide investors with a competitive edge through AI-driven investment solutions leveraging cutting-edge artificial intelligence models in collaboration with LG AI Research who offers forecasting and optimization models based on data intelligence, as well as a large-scale multimodal AI model called EXAONE, and other advanced machine learning technologies.
On August 24th, LG and Qraft will hold a joint event at the New York Stock Exchange to unveil details of their partnership and collaborative efforts.
About Qraft
Qraft is a fintech company aiming to drive growth in the asset management industry through its innovations in artificial intelligence (AI) and investing. Qraft offers a variety of AI-powered investment solutions, including a security selection engine, an asset allocation engine, a robo-advisory solution, and an AI order-execution system. From data processing to alpha research and portfolio execution, Qraft has an established track record in developing cutting-edge AI solutions that have been adopted by over 20 financial institutions worldwide. In 2022, Qraft received a US$146 million investment from SoftBank Group, entering into a strategic partnership to accelerate AI in the asset management industry.
About LG AI Research
Launched in December 2020 as the artificial intelligence (AI) research hub of South Korea's LG Group, LG AI Research aims to lead the next epoch of artificial intelligence (AI) to realize a promising future by providing optimal research environments and leveraging state-of-the-art AI technologies. And LG AI Research developed its large-scale AI, EXAONE, a 300 billion parametric multimodal AI model, in 2021. EXAONE, which stands for “Expert AI for Everyone,” is a multi-modal large-scale AI model that stands out from its peers due to its ability to process both language and visual data. With one of the world’s largest learning data capacities, LG AI Research aims to engineer better business decisions through its state-of-the-art artificial intelligence technologies and its continuous effort on fundamental AI research.
