Value context and insight. lkm@koreatimes.co.kr
KB Financial establishes digital innovation department to accelerate AI drive
gettyimagesbank
By Lee Kyung-min
KB Financial Group has set up a digital innovation department in an effort to bolster digital transformation, defined by closer artificial intelligence (AI) integration among and across the group affiliates, the company said Tuesday.
The drive will strengthen the group’s competitive edge in financial technology development and enhance customer experience.
According to KB Financial’s sustainability report, the new department will function as the control tower for all digital initiatives within the company.
In particular, the group’s AI Financial Center will create synergy among affiliates’ digital innovation and AI technology.
The firm also established a digital committee comprising the chief digital officer and digital leaders from each affiliate.
They will spearhead the group’s digital strategy, overseeing key initiatives and monitoring progress and challenges.
For close intra-affiliate coordination, the group will operate two councils whereby heads of major affiliates collaborate on platform, data and AI strategies.
A special team in charge of quality assurance will enhance platform-based financial service with the help of outside experts.
Risk management will also be fortified.
KB Financial has introduced a comprehensive AI governance framework whereby all AI-powered services are evaluated and managed ethically. High-risk services are subject to stricter monitoring and controls to minimize risks related to AI implementation.
“We are the first among the country’s leading financial groups to establish and publicly disclose an AI ethics standard to prevent ethical issues associated with digital technologies,” a KB official said.
The group also actively monitors digital transformation progress using key performance indicators such as monthly active users, mobile platform subscribers and customer satisfaction data.
It also fosters knowledge and progress sharing, promoting the exchange and discussion of AI strategies.
“KB is committed to upgrading AI-powered growth strategies and other new promising technologies, as illustrated by the new organizational structure,” the official said.