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LG Group announced its plans for a new investment scheme earlier this week. The company stated that it will be putting in $100 million or around ₩120 billion over the next three years for the construction of advanced computing infrastructure for AI development. artificial intelligence
LG’s plans for its AI development
It will be LG Group’s artificial intelligence research and development division, LG AI Research, that will be handling the project and build the groundwork with 600 billion machine learning parameters, as per The Korea Herald.
Once completely set up, the new computing system will have the capacity to make 95.7 quadrillion calculations per second. It was reported that this will be launched in the second half of the year and soon after, the company will introduce an AI model with trillion-unit parameters which are expected to be ready in the first half of 2022.
It was said that the company’s new AI system has parameters that are three times higher compared to the GPT-3, a model created by OpenAI and currently the world’s largest autoregressive language model.
The bigger the number of parameters, the better as having a larger number allows an AI model to attain a certain level of accuracy faster than the other AI models with fewer parameters. Now, the LG Group, along with 16 of its group affiliates will use the new artificial intelligence system in various areas of businesses.
Applications of the new AI system
It was mentioned that LG’s advanced computing system can be used in many ways and purposes in businesses such as for handling customer services, manufacturing, sales activities and more. With the multi-million investment, the South Korean company will also make an AI model that can help product designers by shortening the design process.
Korea Economic Daily added that LG’s AI infrastructure can also be utilized in the development of cancer treatment and vaccines. “We aim to establish a state-of-the-art open AI ecosystem jointly with global partners to improve living conditions for humanity,” LG AI research chief, Bae Kyung Hoon, said in a statement. Finally, this latest project of LG was initiated by the company’s chairman Koo Kwang Mo as they put efforts into pursuing full digital transformation.
