SK Networks opens AI hub 'PhnyX Lab' in Silicon Valley

Industry

Published: 24 Apr. 2024, 16:06

SK Networks opens AI hub 'PhnyX Lab' in Silicon Valley

SK Networks President Choi Sung-hwan, third from left, poses with other employees of its newly-founded AI lab situated in the Silicon Valley at the inauguration ceremony held in California on Tuesday. [SK NETWORKS]

SK Networks has set up an artificial intelligence (AI) lab in Silicon Valley dedicated to advancing AI business models and fostering new talent, the company said on Wednesday.

"PhnyX Lab," currently run with four personnel including researchers as well as undergraduate and graduate students from Stanford University, will lead AI development and spearhead related projects in collaboration with SK Networks.

The company held an inauguration ceremony at the Rosewood Sandhill Hotel in California on Tuesday, attended by SK Networks President and Chief Operating Officer Choi Sung-hwan.

"PhnyX Lab stands as a formidable innovation hub with world-class competitiveness, equipped not only to conduct future research on cutting-edge AI technology but also to devise tangible business utilization plans, such as business model development,” Choi said. "Through PhnyX Lab, we will ramp up our efforts to establish a strong foothold in the U.S. while also driving forward AI development for numerous companies."

During his trip, Choi plans to meet with local partners and AI companies to discuss future collaborations, SK Networks said.

The Korean company has primarily focused on the distribution of IT devices, the management of telecom infrastructure and rental cars. However, it recently has recently broadened its business scope by venturing into the hyped AI technology sector. It has invested in AI device startup Humane, co-founded by ex-Apple employees, unmanned tractor automation solution provider Sabanto and smart farm startup Source.ag as well as Korean AI startup Upstage.

The company aims to triple its operating profit by 2026 by merging AI into its key subsidiaries like SK Magic, En-core and its Walkerhill hotel chain.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]