Seoul, June 4: KT Corp, a South Korean telecom company, said on Tuesday it will join hands with US technology giant Microsoft to develop the local artificial intelligence (AI) and cloud computing industries.

Under the partnership, the two companies will jointly conduct AI and cloud research projects, KT officials said, reports Yonhap news agency "We will do our best to set a milestone in South Korea's digital innovation and swiftly respond to changes in the market through a comprehensive collaboration with Microsoft," KT CEO Kim Young-shub said. Government-Run ONDC Records All-Time High 8.9 Million Transactions Across Retail, Ride-Hailing Segments in May.

Meanwhile, Hitachi and Microsoft announced a projected multibillion-dollar collaboration over the next three years that will accelerate social innovation with generative AI. Through this strategic alliance, Hitachi will propel the growth of the Lumada business, with a planned revenue of $18.9 billion in FY2024, and will promote operational efficiency and productivity improvements for Hitachi Group’s 270,000 employees. Computex 2024: NVIDIA Lets Businesses To Create Real and Human-Like Digital Avatars by Using ACE GenAI.

“We are entering a new era of AI with the promise to deliver transformative business outcomes across every role and industry,” said Satya Nadella, chairman and CEO, Microsoft. Hitachi will train more than 50,000 GenAI professionals.

(The above story first appeared on LatestLY on Jun 04, 2024 10:43 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).