LG CNS CEO Kim Dae-hoon delivers a speech at this year's "Entrue World 2014" conference at the Conrad Seoul in Yeouido, Thursday. / Courtesy of LG CNS
LG CNS said Thursday that it will raise its stakes in cloud computing and big data.
Amid rapid technological convergence, the LG Group affiliate plans to seek new business opportunities in the emerging fields, according to the firm's CEO.
"Our goal is to become one of the most trusted suppliers for technology solutions in cloud computing and big data," said CEO Kim Dae-hoon in a speech to the annual "Entrue World 2014" forum.
He said the convergence of technologies is changing everyone's lifestyle.
According to him, the global technology industry is heading toward an era of "Smart Technology 2.0," which includes smart devices, faster data transmission networks, and the rise of big data and cloud computing.
Kim said automotive, medical, distribution, transportation, security and manufacturing businesses will benefit most from the transition.
"Our businesses are ideally-fitted to ride on this new wave," Kim said.
Citing an emergence of smart glasses, he said, "Cloud computing has huge potential to change your key businesses. Cloud computing is growing rapidly."
Regarding big data, LG CNS plans to offer highly-advanced analytic skills to existing and future clients.
Sources said it plans to supply some of its cloud and big data solutions to upcoming smart glasses, to be introduced by LG Electronics later this year.
LG Electronics may unveil its first smart glass at major technology shows or via an internal event.
Separately, Joichi Ito, director of the MIT Media Lab, said in a speech that innovation is being accelerated by the development of the Internet and connected devices.
Ito urged leading technology companies to widen their business scope for sustainability and added the development of the Internet is offering new business chances to startups, while big businesses will be being threatened due to a reduction in costs.
"For example, major innovative companies such as Google and Facebook produce products and ideas, followed by financing and business plans. This will save costs and boost the competitiveness of the companies. You should remember that YouTube changed its key business structure to real-time streaming from a social dating site very quickly. Flexibility is important," Ito said.