Woori Bank signed a business agreement with Naver Line on April 5 to develop financial products and services that combine artificial intelligence technology. Woori Bank and Line will establish an "AI joint lab" consisting of artificial intelligence experts from both companies in the mid- and long-term.
Woori Bank plans to utilize Naver and Line's "Clova," an AI platform. Previously, Woori Bank and Line have completed verification of Clova's key functions, including OCR (Optical Text Reader) and chatbot natural language processing, and are considering applying them.
"All processes from research and verification of artificial intelligence technologies to finding new businesses will be carried out in 'AI joint lab,'" a Woori Bank official said. "It is expected that there will be drastic changes in all banking services where artificial intelligence technology can be used."
Meanwhile, Sohn Tae-seung, chairman of Woori Financial Group and Woori Bank, and Shin Jung-ho, CEO of Naver Search & Clova and co-chairman of Line Corp., attended the business agreement ceremony.
