Summary Bullets:

• Telco AI Leader: GlobalData ranks SKT a leader among telcos for its approach to AI, as its ambitions strategy targets a multi-billion dollar business by 2028.

• Dream Bigger: While not every telco can replicate SKT’s strategy, a more forward-thinking approach should be adopted to avoid losing out on the AI revenue opportunity.

According to GlobalData’s “Thematic Intelligence: Tech, Media, & Telecom Themes 2024” report, South Korea Telecom (SKT) has the highest ranking among rated telcos (along with a few of its peers) in the AI theme, with the rank of leader, the company’s activity in this theme will improve its future performance (for more, please see Thematic Intelligence: Tech, Media, & Telecom Themes 2024, December 8, 2023). SKT has some of the most ambitious goals for the use of AI technologies, including generative AI (GenAI) and large language models (LLMs). Announced in H2 2023, SKT’s AI pyramid strategy seeks to grow AI revenues to KRW25 trillion ($19 billion) by 2028, by pursuing growth across three categories: AI Infrastructure, AI Transformation, and AI Service, with a focus on both domestic and international growth. While the use of AI, including GenAI, is a topic of interest for most if not all major telcos around the world, the focus is often on internal adoption to improve efficiencies, reduce costs, and improve customer experiences. While these are all key benefits of the technology, one area that sets SKT’s strategy and execution apart is its focus on using AI technologies to drive new revenues across both the B2C and B2B space domestically and globally.
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