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SK Telecom to Invests $4.1 billion in AI & IoT

SK Telecom to Invests $4.1 billion in AI & IoT Image Credit: Sk Telecom

South Korea’s largest mobile operator SK Telecom (SKT) announced its plans to invest  5 trillion won ($USD4.1 billion) over the next three years in artificial intelligence(AI) and the Internet of Things (IoT).

SK said that part of the investment will be used to build the ecosystem for AI and IoT, supporting Korean startups in these areas. Eventually it aims to generate nine trillion won in revenues and create 60,000 jobs via the initiative.

SK Telecom has already embarked various IoT related initiatives, including completing the nationwide deployment of LoRa-based LPWAN IoT network. The Operator has also launched price plans for LoRa-based IoT services and new offerings in specific IoT verticals in the country.

More recently, SK has signed an MoU with Honeywell Korea, the leading provider of automation and control solutions to jointly develop wireless sensors based on SK Telecom’s LoRa network technology. SK will integrate LoRa network technology with Honeywell’s sensor and control devices across homes, buildings and factories.

In addition, the Operator has partnered with Cisco to develop a simplified version of IoT platform that will allow devices to analyze and process data locally. The new solution will be complementary to SK's own cloud-based IoT platform, ThingPlug.

Author

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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