Lotte Group holds conference to accelerate AI transformation

[Photo provided by Lotte Group]

South Korean retail giant Lotte Group has rolled up its sleeves to speed up its transformation into an artificial intelligence (AI)-driven conglomerate.

According to Lotte Group on Friday, it held a conference on AI technology at Lotte World Tower on Thursday. About 110 officials attended the conference, including Lotte Group Chairman Shin Dong-bin, his eldest son and executive vice president of Lotte Corp. Shin Yoo-yeol, and chief executive officers of key units.

The conference discussed the latest AI trends and the group’s strategic direction.

Lotte Group has been putting out efforts to not only utilize AI in enhancing work efficiency but also to raise AI technology to a level that helps boost its key business competitiveness through innovation.

The latest conference was held based on the decision that the CEOs of Lotte Group should understand AI in order to utilize technologies.

Researchers from Lotte Data Communication Co., for example, shared how Aimember, a generative AI-based work tool, works.

AI startups were also invited to share innovations and encourage CEOs to experience them.