Lotte holds conference for executives as it eyes AI transition

Lotte held an AI conference for its top executives as the conglomerate doubles down on AI transition, the company said on Friday.

Lotte Chairman Shin Dong-bin, second from right, inspects a booth set up by a local AI startup druing the 2024 Lotte CEO AI Conference held at the Lotte World Tower on Thursday. [LOTTE CORPORATION]

Lotte held an AI conference for its top executives as the conglomerate doubles down on AI transition, the company said on Friday.

The 2024 Lotte CEO AI Conference, held at Lotte World Tower in southern Seoul on Thursday, was attended by some 110 participants from leadership at Lotte companies including chief executives and chief strategy officers and Lotte Chairman Shin Dong-bin.

According to Lotte, the latest event was aimed at helping top executives at each Lotte company understand AI and its implications for the purpose of incorporating the technology into their businesses. The company hopes to use AI to drive productivity and market competitiveness.

During the conference, AI experts were featured on stage. An AI task force team under Lotte Corporation presented the group’s business strategies regarding AI technologies and Lotte Data Communication showcased its AI platform Aimember.

Exhibition booths were set up for the event as well, including those from local AI startups and Lotte Data Communication.

“AI is being used in every industry, and companies are monetizing the technology through their business models,” said a Lotte spokesperson, adding that “we hope to build the capabilities to navigate through the era of AI utilization in Lotte company CEOs who are leading businesses in various sectors, ranging from manufacturing and retail to service.”

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]