South Korea’s KDX has employed artificial intelligence for smarter sourcing and data offer.

KDX is the country’s first private-run data exchange platform. It collects data from local retail companies to provide combined and processed data to fuel data-driven marketing activities and advertising, as well as serves as a platform for trading data. It was established in December 2019 by Maeil Broadcasting Network (MBN) in consortium with local enterprises.

Recently, KDX beefed up its database with 1,630 hours of audio and video data created by MBN and its affiliates under Maekyung Media Group. The platform operator also has adopted a cloud based data processing system for faster and efficient service.

It aims to have the new data secured from Maekyung Media Group affiliates regenerated into at least 180,000 video footages and clips for customers. KDX currently has 2,452 subscribers.

The platform also plans to open a marketplace, tentatively named KDX-AI, specifically for data relabeled using AI technology.

The MBN-led consortium is one of the 10 recipients for the 151.6 billion won ($124.6 million) project by the Ministry of Science and ICT for big data analysis and retail infrastructure 2019-2022.

By Lee Dong-in and Cho Jeehyun

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]