South Korea's science ministry will invite companies and organizations to a 2.5 million US dollar contest aimed at creating a sustainable pool of data to be used for machine learning by artificial intelligence.
The Ministry of Science, ICT and Future Planning said Thursday that data for artificial intelligence (AI) machine learning would be made public so that small and medium firms, ventures and startups can use it.
"With this project, South Korea would gain competitiveness in the fields of AI," said a ministry official. "We look forward to cooperating with many companies and organizations interested in this field."
Machine learning is a vital factor in developing AI, which learns and educates itself by sorting and analyzing prepared data. Normally the process is done automatically. With more data, AI gets more capable in its specialized field.
The science ministry plans to build data first in three fields -- law, patent and general knowledge -- and gradually establish and provide data for machine learning for the next five years. This year, about 2.9 billion won (2.5 million US dollars) will be prized for the contest.
AI is an essential part of the Fourth Industrial Revolution. Because it is extremely effective at learning and analyzing the tremendous amount of data in such a short time when compared to humans, it is replacing humans in various areas such as financial services, government-related projects, marketing and health care.
Park Sae-jin = firstname.lastname@example.org