WiseAiTech "Leading Machine Learning and Big Data Company... Expecting Significant Growth Through Product Differentiation"

Ahead of Its 30th Anniversary This Year, Planning KOSDAQ Listing... Viewing the Passage of the 'Data 3 Act' Amendment as an Opportunity

[Asia Economy Reporter Kum Boryeong] "The data-driven economy is becoming more active, and we aim to achieve greater growth through product differentiation."

WiseAitek held an initial public offering (IPO) at a press conference on the 16th at the Hongwoo Building in Yeongdeungpo-gu, Seoul.

Kim Jonghyun, CEO of WiseAitek, emphasized, "Machine learning is not limited to specific industries but can be applied across all fields. In the short term of 2 to 3 years, big data analysis and data quality are expected to be key. Introducing machine learning into these areas to differentiate products and grow is the most important part of our roadmap."

Founded in 1990, WiseAitek's main business areas are machine learning, big data analysis, and data quality. Its big data analysis product, WiseIntelligence, received the highest technical score in the big data product sector from a specific public institution.

WiseProphet, the representative product in the machine learning field, is a machine learning automation platform that allows easy prediction results using owned data. It has many clients including the Ministry of Environment, Ministry of National Defense, and NongHyup. This technology has been recognized for its excellence through designations such as Outstanding Technology Research Center and selection as an innovative product by the Public Procurement Service.

WiseDQ is the first automated data quality management tool in Korea to introduce machine learning algorithms. It helps improve big data quality through quality indicator setting, quality measurement, result analysis, and monitoring. It currently holds the number one market share domestically.

The market outlook by business sector is positive. CEO Kim explained, "Machine learning technology is expected to see rapid demand growth as it is applied to various industries such as manufacturing, distribution, and media. From 2016 to 2018, the domestic public big data market grew at an average annual rate of 42%, leading market growth. Additionally, due to increasing demand for data quality enhancement not only in the public sector but also in the private sector, the domestic data quality market continues to expand."

He also views the recent passage of the 'Data 3 Act' amendment in the National Assembly as an opportunity for WiseAitek. Kim said, "With the passage of the Data 3 Act amendment, data openness and distribution will expand, and data fusion and utilization will be promoted, leading to significant growth for WiseAitek."

WiseAitek plans to list on the KOSDAQ market this year ahead of its 30th anniversary. The demand forecast is scheduled for the 20th to 21st, and subscription is planned for the 29th to 30th. A total of 850,000 shares will be offered, with the total number of shares to be listed at 4,292,500. The lead underwriter is Kyobo Securities. The proceeds from the offering will primarily be invested in research and development (R&D).

This content was produced with the assistance of AI translation services.