SK Telecom has announced that it will invest USD 3 Million in Twelve Labs, a video comprehension company gaining major global attention across the AI industry.
The San Francisco-based startup, established in 2021, develops multimodal video foundation models that can understand video content in the same manner as humans. The company is backed by leading venture capitalists, technology companies, AI luminaries, and successful founders.
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Multimodal AI for Security
Twelve Labs provides industry-leading video AI solutions designed to unlock the full potential of vast enterprise video archives. Its proprietary multimodal foundation models, Marengo and Pegasus (latest versions being Marengo-2.7 and Pegasus-1), bring human-like understanding to videos, enabling precise semantic search, summarization, analysis, Q&A, and more.
Additionally, both companies have agreed to join forces in developing and advancing technologies that can facilitate the implementation of multimodal AI within security and public safety applications, such as AI surveillance systems.
Unlike traditional surveillance systems where, historically, a single operator had to monitor numerous CCTV feeds for lengthy periods of time, Twelve Labs' multimodal AI model facilitates quick searches and summarizes key incidents, movements, and individuals from any given day.
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Multimodal AI for Customer Service
Moreover, SK Telecom and Twelve Labs are joining forces to explore the potential of multimodal AI in transforming customer service. This advanced technology, which enhances user understanding by processing multiple data types simultaneously, is expected to enable seamless and intuitive interactions. The two companies aim to identify collaborative opportunities to leverage this innovation and improve customer experience and engagement.
“Through the partnership with SKT, we’re looking forward to providing our video foundation models to various industry use cases and provide real value in daily workflows in the ecosystem,” said Jae Lee, CEO of Twelve Labs.
"Through the cooperation of the two companies, we will further strengthen our competitiveness in the multimodal AI field," added Lee Jae Shin, Head of AI Growth Strategy at SK Telecom. "We plan to expand our business areas and the range of services we offer so that customers can truly experience AI innovation."
Developments in Multimodal AI:
Singapore Unveils National Multimodal LLM Program for AI Innovation
Telkom Indonesia and Reka AI Join Forces for Multimodal AI Development
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