algorithm labs

About algorithm labs

Algorithm Labs, founded in October 2017 by CEO Jinho Son, is a Seoul-based company specializing in artificial intelligence solutions. The firm has established itself by providing AI-powered services to a notable client roster that includes major Korean conglomerates like Hyundai Motor Group, LG Group, KB Financial Group, and GS Group. The company's funding history includes a Series A round with participation from KT Investment, Korea Investment Holdings, and Hanwha Investment & Securities.

The core of Algorithm Labs' business is a platform that enables companies to develop and deploy AI without needing in-house AI experts or extensive coding knowledge. This service is designed for industry professionals, allowing them to leverage their domain expertise to build and commercialize AI models. The platform features an 'AI Pipeline Optimizer' which automatically analyzes a company's data and selects the most suitable combination of AI frameworks and libraries, such as Pytorch, Tensorflow, and Scikit-learn, to create an optimal solution. This no-code approach allows for rapid prototyping and deployment of AI models. The business model centers on providing this platform alongside AI training and consulting services, enabling clients to transform their existing workforce into data-savvy teams.

Algorithm Labs offers tailored solutions across various business functions. For human resources, their AI tool assists with data-driven decision-making for tasks like predicting promotion suitability and identifying potential employee turnover. In another application, the company developed a customer recommendation system for KB Capital's used car platform, 'KB Cha Cha Cha', which resulted in a significant increase in customer conversion rates. They also provide solutions for educational institutions to predict student dropout rates, allowing for proactive intervention. Beyond corporate solutions, the company is involved in AI education for K-12 students and educators, partnering with universities to host AI competitions and training programs.