20 Groundbreaking AI Projects to Launch in September, Aiming for 200 by 2028 to Boost AI Adoption by 40%
MakinaRocks, “Adding AI Synergies to Strengthen Korea’s Manufacturing Powerhouse”
SEOUL, South Korea, July 30, 2024 – MakinaRocks, an industrial AI company, has announced its participation in the AI Autonomous Manufacturing Alliance, supported by public and private investments totaling $1.8 billion (￦2.5 trillion).
The Ministry of Trade, Industry and Energy (MOTIE) launched the AI Autonomous Manufacturing Alliance on July 22, with a ceremony gathering representatives from industry, academia, and research institutions across 12 sectors, including automotive, electronics, shipbuilding, secondary batteries, mechanical equipment, steel, semiconductors & displays, petrochemicals, biotechnology, defense & aerospace, textiles, and nanomaterials. The alliance comprises 153 companies and organizations, with the combined sales of the participating companies accounting for nearly 40% of the entire manufacturing industry. Prominent anchor companies involved include Hyundai Motor, LG Electronics, DN Solutions, EcoPro, POSCO, GS Caltex, KAI, HD Hyundai Heavy Industries, and Korean Air.
MOTIE expects to finalize about 20 leading projects this year, with a $1.8 billion investment to be confirmed in September. Each pilot project will receive a budget of up to $7.2 million (￦10 billion), and the Korea Trade Insurance Corporation plans to provide $7.2 billion (￦10 trillion) in financial support over five years. Through this support, the alliance aims to identify and promote 200 projects by 2028, increasing the adoption rate of AI autonomous manufacturing to over 40% by 2030. The goal is to boost manufacturing productivity by more than 20% and GDP by over 3%.
MakinaRocks, recognized as Korea’s leading manufacturing AI company, will participate in the AI Autonomous Manufacturing Alliance. Invited by MOTIE, MakinaRocks has been integral to the ‘AI Autonomous Manufacturing Master Plan’ since its inception, providing practical directions for applying AI to manufacturing sites. The company will focus on developing AI models specialized for manufacturing sectors such as automotive, batteries, semiconductors, steel, and chemicals. Leveraging its AI platform ‘Runway,’ MakinaRocks aims to support anchor and participating companies in building ‘intelligent factories’ and optimizing AI operations within the manufacturing industry.
“The innovation DNA inherent in sectors like automotive, semiconductors, and batteries has been the driving force behind Korea’s continuous enhancement of its competitiveness amid global megatrends,” stated Youngsin Huh, Vice President of MakinaRocks. “The AI Autonomous Manufacturing Alliance, led by MOTIE, will serve as a platform for close collaboration between leading industry companies and AI technology firms. This initiative will plant the seeds of AI innovation in Korea’s manufacturing powerhouse, significantly boosting the nation’s manufacturing competitiveness.”
MakinaRocks is a global AI leader, with over 4,000 successful AI model deployments in manufacturing and industrial environments. The company spearheads AI transformation (AX) in the industrial sector by offering tailored AI models for anomaly detection, optimization, predictive analysis, and industrial LLMs through its AI platform, Runway, maximizing AI utilization across enterprises.
Notably, MakinaRocks’ ‘Runway’ platform is the only AI platform in Korea recognized in the ‘AI Development Platform’ category of the global ‘Machine Learning Operations Market Map.’ Alongside prominent names like DataRobot, Databricks, Dataiku, ScaleAI, and Huggingface, MakinaRocks is identified by CB Insights as offering “solutions that serve as one-stop shops for enterprises that want to develop and launch in-house AI projects.”
About MakinaRocks
MakinaRocks is a pioneering leader in enterprise AI software for the global manufacturing industry, dedicated to accelerating industries’ transition to AI. Leveraging our MLOps platform and end-to-end AI solutions, we empower businesses to optimize operations, gain insights, and unlock significant value. Backed by $25M+ funding from global investors like Applied Ventures and Hyundai Motor Group, MakinaRocks is a top innovator listed in CB Insights AI 100 and the World Economic Forum’s Global Innovators Community. Learn more at https://www.makinarocks.ai/en/.
