Korean software startup in spotlight for foolproof AI prediction model

CEO Park Jae-hyun

Ailys, a Korean software startup, aims to become the world’s No. 1 artificial intelligence (AI) software company with its powerful AI software tool that enables its users to build AI-based prediction models with only a few mouse clicks and no hard-coding work.

"Using our software, even ordinary office workers who have no knowledge of artificial intelligence or machine learning can create an AI-based prediction system with proven Ailys-modified ML algorithms,” the company’s chief executive Park Jae-hyun told Maeil Business Newspaper on Sunday.

Since the launch of its AI software tool DAVinCI LABS in 2017, the company has continued solid growth with sales jumping from 5.3 billion won ($4.49 million) in 2018 and to 8.7 billion won in 2020. More than 70 percent of its sales come from overseas.

DAVinCI LABS is a tool software that helps non-experts use AI for their work.

For example, a bank employee can use DAVinCI LABS to create a program that predicts the probability of the bank’s customer’s default on previous credit data to help make lending decisions. An employee of a retail company can create a program to control the supply by predicting how many lunchboxes will be sold each month at a convenience store.

When a user purchases DAVinCI LABS, an expert from Ailys provides a Quick Win project to show how to create an AI prediction model based on the user’s existing big data. After users experience this process, they can use DAVinCI LABS to create various AI prediction models themselves, according to the company.

DAVinCI LABS can be used not only in credit evaluation, but in all areas where decision-making is required by predicting the future based on past patterns.

Ailys has already attracted large customers for DAVinCI LABS in Korea and overseas. They include Shinhan Bank, Hana Bank, KB Capital, MetLife Life Insurance, Pulmuone Foods, Hyundai Mobis, and Severance Hospital. Mitsubishi Corporation and SBI Holdings in Japan, as well as Vietnam’s TPBank are also clients.

“Our goal is to achieve 30 percent of the global market within a few years and become the number one AI software company in the world,” said Park.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]