Seoul, South Korea- Naver (KRX: 035420) hosted the DAN 23 conference; the event highlighted Naver's technology course and business strategy centered on generative AI and introduced a series of products, changes, and innovations.
Why it matters
Naver has been the question for stakeholders outside of South Korea in the global tech ecosystem.
That's because the company beat Google in the search engine market in the South Korean search engine. This is an exceptional case in the global market except in China and Russia, where the government regulates invisible barriers.
As the adoption of generative AI in services is a significant trend, the market should pay attention to Naver's moves.
The Key Points
At the DAN 23 conference, Naver demonstrated its commitment to transforming technology and everyday life with AI innovations.
By focusing on user needs, investing in advanced technology, and fostering collaboration among various stakeholders, Naver underscores its role as a leader in the technology landscape.
Generative AI products: HYPERCLOVAX, CLOVAX, and CUE:
- HYPERCLOVAX: The backbone model for generative AI, leveraging AI recommendation-based technology and years of experience in various domains such as search, shopping, booking, and UGC.
- CLOVA X: A conversational AI service for multi-turn conversations and various applications such as creation, summarization, inference, translation, and coding.
- CUE: A generative AI search service to be launched in September, designed to understand complex queries and provide three-dimensional search results.
Naver's technological competitiveness is based on the following key figures.
- Consistent R&D investment: 22% of operating revenues are dedicated to research and development.
- Robust infrastructure: Houses Naver's IDC without incident, underscoring its generative AI competitiveness.
- Gak Sejong Data Center: A hyper-scale facility that hosts more than 600,000 servers, set to open in November as Asia's largest single-company data center.
The Big Picture.
Naver shared its internal ground rule, the "Winning Loop" structure. The structure improves the user experience and the service itself.
Starting on August 24 at 16:00 Korea Standard Time, CLOVAX can provide various answers for different contexts, from business writing to interview practice, using its advanced language skills in Korean and English.
In addition, a detailed outline of the new services, such as CLOVA X and CUE, will be unveiled.
- CLOVAX beta testing: Connecting various service APIs.
- Launch of CUE: Comprehensive search results for complex queries.
- Partner empowerment: Merchants, Creators and Advertisers:
Tools like CLOVA for Writing and CLOVA for AD will support different stakeholders.
CEO Sooyeon Choi closed the event by reiterating that Naver dreams of "changing the world with technology" and is ready for "the next big thing in generative AI."
