Brain Ventures (CEO Won-hoe Kim), a resident company of ICT-Culture Convergence Center operated by the Ministry of Science and ICT and the National IT Industry Promotion Agency, announced on the 5th that it was selected as a data voucher processing company by the Korea Data Agency for 2021.

Marketing Technology News:  Avtex Wins 2021 Pandemic Tech Innovation Award

The selection as the data voucher processing company is a feat accomplished by Brain Ventures, an AI-based natural language processing company, after 9 months of its establishment. It was evaluated highly for tangible research achievements such as the publication of research papers on AI natural language processing and the application of 5 patents and trademarks in a short period of time.

The data voucher business is a state-funded project to create new business model by processing various data (text, image, video, etc.) owned by demanding companies. Based on its own technology, Brain Ventures is developing AI chatbot engine, AI image processing module, generating AI sports data, and developing a business model through video processing, with demanding companies. Brain Ventures is also advancing into the field of processing legal data and intellectual property data based on data de-identification, weight reduction, and visualization technologies.

Marketing Technology News:  MarTech Interview with Gary Burtka, VP U.S. Operations at RTB House

Meanwhile, Brain Ventures has developed an AI video content automatic translator and short answer scorer. It is currently co-developing sentence meaning extraction technology with Russia’s Ashmanov Neural Networks with the support of Small and Medium Business Technology Information Promotion Agency.”Brain Ventures is always open to companies hoping to create new business models through data processing,” said CEO Won-hoe Kim. “We will strive to realize the day when artificial intelligence freely understands, evaluates, and communicates with human languages.”