SK Telecom Invests $3M in Twelve Labs for Multimodal AI Innovation

Core Insights - SK Telecom Co. (SKM) has invested $3 million in Twelve Labs to enhance multimodal AI applications, particularly in security, public safety, and customer interaction [1][3] - Twelve Labs specializes in multimodal video foundation models, enabling enterprises to utilize video archives for tasks like semantic search and content summarization [3] - The collaboration aims to leverage SK Telecom's telecommunications expertise and Twelve Labs' video understanding capabilities to advance multimodal AI technology [3] Investment and Growth Strategy - SK Telecom is focusing on becoming a global AI company by developing AI data centers, enterprise AI, and AI consumer services [8] - The company has seen a 2.9% year-over-year increase in consolidated revenues, reaching KRW 4.5321 trillion, driven by growth in roaming and the enterprise sector [7] - Operating income increased by 7.1% to KRW 533.3 billion, attributed to enhanced efficiency from AI integration and operational improvements [7] AI Initiatives - SK Telecom's AI Customer Service Support System beta service was successfully concluded in November 2024, marking a significant advancement in customer service technology [5] - The company collaborated with global LLM leaders to develop an advanced AI system tailored for telecom, refining their Telco LLM and large multimodal model (LMM) [6] - The AI system has shown strong performance since its launch in mid-October, indicating successful implementation of AI-driven innovations [6] Market Performance - SK Telecom currently holds a Zacks Rank of 4 (Sell), with its shares gaining 2.6% over the past year, contrasting with a 17.1% decline in the sub-industry [9]