Increased public safety and service quality are two goals of South Korea’s $526 million investment in artificial intelligence. Medicine, schools, and emergency services are the focus of AI-powered initiatives.
Recent remarks from South Korea detailed the country’s intentions to fund the use of AI technology in state-run organizations with the goal of instrumentalizing productivity. The South Korean government’s decision to invest a substantial amount of 710.2 billion won (about $526 million) in this initiative shows that it is serious about using AI technology effectively in many parts of the economy.
At the beginning of the AI Strategy High-Level Consultative Council session, MS IT presented the investment strategy for the council. It is the exclusive responsibility of this body to determine the national course and policy orientation with respect to AI. The allotted funds will mostly go towards AI-led projects in important economic sectors; this will enhance community services and provide new answers to social challenges.
Costing a total of 75.5 billion won (about $55.6 million), this investment has funded artificial intelligence initiatives with real-world applications in healthcare, media, and education. That is to say, AI projects that influence regular life have received a significant chunk of the funds. All eighteen of the funded studies cover a broad variety of clinical concerns, from pediatric disorders and mental health to other serious medical challenges.
Better public health is the goal of the authorities’ strategy. The goal is to reduce social inequities by using AI’s advantages in communities that are behind in this area as well. In addition, lawmakers may use the budget to put $170 million (230 billion won) towards developing safe artificial intelligence systems. Investments like this help put the “bricks” in place for an AI talent pool, which is essential for a fruitful innovation process in the long run.
One component of the approach is for the government to use AI in reaction to situations that are difficult to predict, such as epidemics, situations involving the loss of staff, or disasters.
In addition to enhancing the efficiency of the relevant service, these initiatives seek to make the city a safer place and protect the public’s welfare. Companies in South Korea that focus on creating AI hardware products will also likely get support from the government.
