CrowdWorks Completes Funding... "Boost for AI Education Business in Japan"

Published 31 Oct.2024 07:17(KST)

AI tech company CrowdWorks announced on the 31st that it has completed a paid-in capital increase worth 3 billion KRW. It is expected to accelerate the development of AI businesses by industry and AI education business in Japan.

Despite setting the new share issuance price 17.5% higher than the base price, the company successfully raised funds. Key executives including Chairman of the Board Park Min-woo and CEO Kim Woo-seung participated.

The company plans to invest the capital increase funds to strategically support its local subsidiary in Japan. CrowdWorks is promoting AI business through its local subsidiary in Japan. In particular, the AI education business has great growth potential.

CrowdWorks’ AI education business in Japan targets corporate employees. It designs customized curricula through learner competency diagnosis and builds an optimized environment for foundation models selected by companies. A voice-based instructor AI agent provides 24-hour course feedback, enabling education status checks and performance monitoring.

A CrowdWorks representative said, "In Japan, one of the reasons for falling behind in global competition is digital competency, and this view has gained strong support, raising interest in the AI education business."

Demand for AI education is increasing in Japan. According to a survey analysis by Nomura Research Institute earlier this year, the adoption rate of generative AI among Japanese companies is about 18%, which is low compared to the US (73.5%) and Australia (66.2%). The Japanese government and companies are rushing to develop domain-specific generative AI with Japanese language capabilities.

The Japanese Ministry of Economy, Trade and Industry (METI) judged that there is a shortage of experts in AI and data analysis, and especially that companies need education to strengthen AI utilization capabilities. In 2021, METI announced the "Guidelines for Fostering AI and Data Science Talent."