Bank of Korea, Naver join forces to offer new AI-based financial service

Rhee Chang-yong, right, governor of the Bank of Korea, and Naver CEO Choi Soo-yeon pose after signing a memorandum of understanding to cooperate on Naver’s AI technology regarding financial and economic sectors at the state-run financial institution’s headquarters in central Seoul, Friday. Naver said it plans to provide a public service that searches, summarizes and recommends various data held by the Bank of Korea by utilizing the tech giant's hyperscale AI HyperCLOVA X. Also, the two will work together on ways to improve productivity by incorporating advanced IT technologies such as AI, big data, IoT and the cloud into the Bank of Korea's business. Courtesy of Naver