LG AI Research Institute, National Pension Service to Develop AI Specialized in Fund Management, Starting With Exchange Rate Analysis
IT DAILY ·
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LG AI Research Institute and the National Pension Service signed a memorandum of understanding on the development of AI specialized in fund management on the 11th at LG AI Research Institute's headquarters in Magok, Seoul.
The two organizations will jointly develop AI to improve the expertise and efficiency of pension fund management, and will push ahead with an AI-based exchange rate analysis service as their first collaborative project.
LG AI Research Institute plans to build an AI system that supports investment research and decision-making by using the financial AI agent Exaone BI, along with macroeconomic indicators, news, research materials and National Pension Service data.
LG AI Research Institute and the National Pension Service signed a memorandum of understanding on the development of AI specialized in fund management on the 11th at LG AI Research Institute's headquarters in Magok, Seoul. The two organizations have begun development after agreeing to jointly develop AI to improve the expertise and efficiency of pension fund management.
The application of this AI will begin in the field of exchange rate analysis. Based on this, the two organizations aim to build an AI system that supports investment research and decision-making.
The two organizations cited improved expertise and efficiency in fund management as the purpose of the initiative. Kang Chang-nam, head of support at the National Pension Service's Fund Management Center, and Lee Hwa-young, head of business development at LG AI Research Institute, attended the signing ceremony.
Under a plan to combine LG AI Research Institute's AI capabilities with the National Pension Service's investment expertise, LG AI Research Institute and the National Pension Service will push ahead with building AI services specialized in fund management operations. The first collaborative project between the two sides is the development of an "AI-based exchange rate analysis service."
To this end, LG AI Research Institute will use the financial AI agent "Exaone BI." It will also leverage unstructured market information such as various macroeconomic indicators, news and research materials, along with National Pension Service data, to develop an "AI-based prediction and analysis model" specialized in pension fund management.
Exaone BI is currently being deployed in services at the London Stock Exchange Group (LSEG), KOSCOM and Kiwoom Securities, among others. The service analyzes more than 8,000 listed stocks in Korea and the U.S. every day and is equipped to provide stock-specific prediction scores and analysis commentary at the level of financial experts.
The National Pension Service is pushing to introduce AI into the investment research and decision-making process of its pension fund management division. This is intended to enhance the expertise of investment decisions, improve the efficiency of investment decisions and raise long-term investment returns. The National Pension Service plans to verify the potential of the AI-based exchange rate analysis service and, over the long term, expand the areas where AI can be applied in actual fund management operations.
The two sides agreed to place trust and safety at the top of the list in introducing AI. They also set a goal of jointly creating a representative example that will allow all citizens to feel at ease and experience the practical benefits of AI.
Under this direction, Kang Chang-nam, head of support at the Fund Management Center, said AI is changing paradigms across industries. He added that the Fund Management Center, which is responsible for the future of the public, also needs to respond to such changes, and said it will pursue improved management expertise and efficiency through AI.
Lee Hwa-young, head of business development, said LG AI Research Institute's financial AI technologies are being recognized by many global investors. He also expressed his determination to create a model example that leads the use of AI in the public sector based on those technologies.
Source: IT DAILY · Yang Seung-gap
Original: https://www.itdaily.kr/news/articleView.html?idxno=241559
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Source: IT DAILY
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