LG AI Research Institute and National Pension Service to Co-Develop Fund Management-Specialized AI
TECHWORLD ·
✦ AI Summary
LG AI Research Institute and the National Pension Service have launched a joint effort to develop AI specialized in fund management.
The two sides signed a MOU on the 11th at LG AI Research Institute's headquarters in Magok, Seoul.
The first project is to build an "AI-based exchange rate analysis service," and they plan to develop a model to predict and analyze exchange rate fluctuations using Exaone BI.
LG AI Research Institute and the National Pension Service have launched a joint effort to develop AI specialized in fund management. The two sides signed a MOU on the 11th at LG AI Research Institute's headquarters in Magok, Seoul.
The purpose of the agreement is to enhance the expertise and efficiency of pension fund management. Using financial AI agents, the two sides plan to combine LG AI Research Institute's financial AI technology with the National Pension Service's investment data to develop AI services tailored to fund management work.
The first project is to build an "AI-based exchange rate analysis service." The two sides will use LG AI Research Institute's financial AI agent, "Exaone BI," as the exchange rate analysis tool.
To that end, they plan to develop a model to predict and analyze exchange rate fluctuations using market information such as macroeconomic indicators, news, and research materials, along with National Pension Service data. They also plan to verify its potential use in actual fund management operations.
Exaone BI is currently applied to services from LSEG, Koscom, and Kiwoom Securities. Exaone BI analyzes about 8,000 stocks listed on the Korea and U.S. stock markets on a daily basis. The service provides stock-specific forecast scores and financial analysis commentary.
Based on this foundation, LG AI Research Institute is pushing to expand the scope of financial AI applications to global investment markets. LG AI Research Institute is working with overseas investment institutions, including the Canada Pension Plan. The purpose of the collaboration is to verify the potential for AI use in the financial sector.
The National Pension Service plans to gradually expand the scope of AI applications after verifying the usefulness of the exchange rate analysis service. The areas targeted for expansion are investment research and decision-making support. The National Pension Service's goal is to build a system that analyzes market information and supports investment judgments. The expected benefits are greater expertise and efficiency in fund management.
In addition to exchange rate analysis, the two sides are identifying additional AI tasks that can be applied in actual fund management settings. They are also conducting verification with reliability and safety in the financial sector in mind. After such verification, they plan to expand the scope of service application.
Kang Chang-nam, head of the support division at the National Pension Service's fund management headquarters, said that as AI is changing paradigms across industries, the fund management headquarters, which is responsible for the public's future, also needs to respond to that change. He added that they will use AI to enhance management expertise and improve management efficiency.
Lee Hwa-young, head of business development at LG AI Research Institute, said that the institute's financial-specialized AI capabilities have already been recognized by numerous global investors. Based on that, he also expressed his commitment to building a model example that leads the use of AI in the public sector.
Source: TECHWORLD · Kim Seung-gi
Original: https://www.epnc.co.kr/news/articleView.html?idxno=406848
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Source: TECHWORLD
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