SK Networks-backed 'Cheiron' is ChatGPT for the pharmaceutical industry

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SK Networks-backed 'Cheiron' is ChatGPT for the pharmaceutical industry

Published: 18 Dec. 2024, 17:30 Updated: 19 Dec. 2024, 15:45

LEE JAE-LIM
[email protected]

Audio report: written by reporters, read by AI

SK Networks President and Chief Operating Officer Choi Sung-hwan speaks at the launch event for PhnyX Lab's new AI product at the Grand Walkerhill Hotel in eastern Seoul on Dec. 17. [SK NETWORKS]

PhnyX Lab, a U.S.-based AI startup backed by SK Networks, unveiled a bio-focused version of ChatGPT tailored to the pharmaceutical sector, aligning with the conglomerate's broader refocus around AI innovation.

The startup's “Cheiron,” which it introduced Wednesday at Grand Walkerhill Hotel in eastern Seoul, is designed to simplify research and market analysis for professionals across all stages, from drug screening and clinical trial planning to production.

The model combines the company's proprietary modular retrieval-augmented generation (RAG) technology, which allows it to search external sources for the answers to queries that it doesn't know from its own training. The modular design functions like Lego blocks, allowing different software components to be combined and adapted for specific tasks.

The version demonstrated at the event utilized open-source information, but the tool also integrates scholarly search platforms like PubMed and Semantic Scholar to generate responses. It can also connect to internal corporate databases for tailored use.

Cheiron’s ultimate goal is to consolidate multiple search platforms into a single hub, streamlining data collection and analysis to enhance efficiency and productivity for employees.

“Rather than focusing on short-term profit, PhnyX Lab aims to establish technological leadership in AI and become a leader to drive the long-term expansion of industry ecosystems,” said SK Networks President and Chief Operating Officer Choi Sung-hwan in a statement, adding that SK Networks will support the startup to become a market leader in RAG-based products.

Choi also sits as an adviser to the startup.

PhynX Lab, founded in September 2024, originated from SK Networks’ department of AI development before separating into an independent entity focused on AI. The move is part of SK Networks’ overreaching initiative to find new revenue streams in AI and move away from its primary businesses in distribution of IT devices, telecom infrastructure and rental cars.

It has invested in AI device startup Humane, co-founded by Apple alumni, as well as tractor automation firm Sabanto and smart farm startup Source.ag.

Earlier this year, the company invested 25 billion won ($17.4 million) in the Korean AI startup Upstage. It also participated in the creation of the Alpha Intelligence Fund, a $130 million initiative led by the venture capital fund SBVA, with an aim to form partnerships with promising startups in AI, robotics and deep tech.

The company is actively pursuing AI integration across its existing subsidiaries. This includes En-core, a data solutions company acquired last year; SK Magic, an appliance rental company planning to release AI products next year; Walkerhill, a hotel chain aiming to transform into an “AI hotel”; and SK Speedmate, a spinoff that has partnered with German automotive data company Deutsche Automobil Treuhand to implement AI solutions such as automated estimate systems, repair programs for imported cars and parts catalog programs, into its offerings.

In addition, SK Networks plans to reorganize its new growth organization into a dedicated AI division by 2025 to accelerate the company’s AI transition, supporting AI initiatives across headquarters and subsidiaries and managing AI-related investments.

BY LEE JAE-LIM [[email protected]]