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SK Networks Collaborates with Qualcomm, Anticipating AI Business Synergy

1. SK Networks partners with Qualcomm to boost AI integration across its business. 2. Collaboration includes the integration of Qualcomm's IoT solutions into product lines. 3. Qualcomm's Dragonwing QCS6490 will enhance AI capabilities in various industries. 4. This partnership aims to create innovative business models through on-device AI. 5. Positive developments expected across sectors like robotics, manufacturing, and logistics.

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FAQ

Why Bullish?

The collaboration may enhance Qualcomm's market position in IoT, which historically drives stock price increases—similar to its rise following past partnerships in AI.

How important is it?

The collaboration aligns with market trends favoring AI and IoT technologies, suggesting a strong potential for QCOM to capitalize on growing demands in these sectors.

Why Long Term?

This partnership suggests sustained growth and innovation potential, taking time to materialize into significant revenue increases.

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Plans to Integrate Qualcomm's High-Performance IoT Solutions Across Headquarters and Subsidiary Products, Expanding Collaborative Efforts "We Will Drive Progress by Expanding AI Application Models Tailored to Our Business Needs." , /PRNewswire/ -- SK Networks (CEO Hojeong Lee), an AI-centric holding company leading innovation across its headquarters and subsidiaries while driving future business value, is teaming up with Qualcomm Technologies Inc.(hereafter referred to as Qualcomm) to accelerate the growth and advancement of its AI business. SK Networks and Qualcomm Technologies Inc. have been actively exploring collaboration strategies to unlock synergies and have reached an agreement to work together across SK Networks’ wide-ranging business sectors. In a strategic meeting held last December at the Samil Building, Sunghwan Choi, President & COO of SK Networks (left), and O. H. Kwon, President of APAC and Senior Vice President, Qualcomm Technologics Inc., captured sealing their collaboration with a handshake. The company announced on the 11th that, in collaboration with Qualcomm, it will integrate Qualcomm's IoT solutions into its headquarters and subsidiaries, marking a pivotal step fast-tracking the expansion of its AI-driven business portfolio. By harnessing Qualcomm's technology, SK Networks sets to lay the groundwork for the development of innovative new business models, powered by on-device AI, spanning a diverse array of industries. Qualcomm plans to equip SK Networks with IoT solutions such as the 'Qualcomm Dragonwing™ QCS6490,' a high-performance system-on-chip (SoC) that supports on-device large language models (LLM). Designed for industrial and commercial IoT applications, the Dragonwing QCS6490 is optimized for a broad spectrum of use cases, ranging from robotics and drones to gateways, tablets, and kiosks. This collaboration is expected to generate synergies by aligning with SK Networks' unique characteristics, wherein its investment affiliates are actively incorporating AI into a broad business sectors. SK Networks is gearing up to tap into opportunities to leverage Qualcomm's technologies across its headquarters and subsidiaries while utilizing top-tier IoT solutions to push the envelope on AI performance and security. Additionally, the company is doubling down on innovation, aiming to future-proof its business by capitalizing on its global technology and investment expert network, Hicosystem, to stay ahead of the curve in the ever-evolving digital landscape.Sunghwan Choi, President & COO of SK Networks, remarked, "Collaboration with Qualcomm, a global technology powerhouse, enables us to propel our transformation into an AI-driven enterprise." He further emphasized, "By embedding AI into SK Networks' products and services, we are not only enhancing customer experiences but also paving the way for a smarter, more connected future that drives meaningful progress for humanity."O. H. Kwon, President of APAC and Senior Vice President, Qualcomm Technologics Inc., stated, "Qualcomm has been steadily broadening its industrial and commercial IoT portfolio, garnering positive market traction across key sectors such as robotics, manufacturing, logistics, and retail." He added, "Our collaboration with SK Networks marks the first step in broadening our business portfolio, as we continue to champion the advantages of on-device AI and drive innovation across industries."Meanwhile, SK Networks, which unveiled its vision of 'Democratization of AI for Civilization of Humanity' early last year, has been aggressively advancing AI-integrated business models across its diverse operations. SK Speedmate, for instance, has joined forces with Germany's DAT to roll out AI-powered automatic quotation systems. En-core, recognizing the rising prominence of generative AI, introduced its 'Data Orchestration Strategy for AI' in October last year and is preparing to launch a new solution package this year. MINTIT is drawing on AI technology to assess and grade mobile phone performance. Additionally, Silicon Valley-based startup PhnyX Lab debuted Korea's first modular retrieval-augmented generation (RAG)-based AI solution tailored for medical and pharmaceutical applications late last year, receiving significant buzz within the industry. SK Networks plans to continue expanding these AI-driven business models, further embedding AI into its strategic growth initiatives.For more detailed information about SK Networks, please visit the SK Networks website (https://www.sknetworks.co.kr/en).SOURCE SK Networks WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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