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

SK Telecom Co. SKM recently invested $3 million in Twelve Labs, a cutting-edge video understanding company. The initiative aims to bolster multimodal artificial intelligence (AI) applications across a broad range of industries, particularly security, public safety and customer interaction.Multimodal AI refers to systems capable of processing and integrating data from multiple sources, such as text, speech, image and video. Unlike unimodal AI, which often focuses on a single data type, multimodal AI processes complex inputs to deliver more accurate outcomes.Twelve Labs, a San Francisco-based startup, is known for its innovative multimodal video foundation models. Its flagship offerings, Marengo and Pegasus, empower enterprises to harness the full potential of their video archives by enabling tasks like semantic search, content summarization, analysis and question-answering. SKM’s decision to invest in Twelve Labs aligns with its broader goal of expanding its presence in the AI domain. The partnership is likely to foster advancements in multimodal AI technology, combining SK Telecom’s expertise in telecommunications and AI development with Twelve Labs’ cutting-edge video understanding capabilities.  A key aspect of the collaboration is the application of multimodal AI in security and public safety. Traditional surveillance systems require operators to monitor multiple CCTV feeds for extended periods, which is time-consuming and exhaustive. Twelve Labs' multimodal AI model enables rapid identification and summarization of significant events, actions and people from any specific day.SKM’s AI Initiatives Drive Top-Line GrowthSK Telecom continues to gain momentum with its commitment to advancing AI-driven innovations. In November 2024, SKM successfully concluded its AI Customer Service Support System beta service, representing a key advancement in its customer service technology. In this initiative, the company partnered with global LLM leaders to create an advanced AI system for telecom. Over a year, they restructured their knowledge system, optimized models and built rich training data with input from customer service experts. Through testing and learning, they refined their Telco LLM and large multimodal model (LMM) to suit telecom needs. Powered by SK Telecom's specialized Telco LLM and LMM, the system has demonstrated strong performance since its launch in mid-October.In the last reported quarter, SKM’s consolidated revenues rose 2.9% year over year to KRW 4.5321 trillion, fueled by healthy growth in roaming and the enterprise sector. Operating income rose 7.1% to KRW 533.3 billion, driven by increased efficiency from integrating AI across the company and strengthened fundamentals through operational enhancements.For the past three years, SK Telecom has been laying the foundation for becoming a global AI company. This year, it is speeding up its transition by focusing on three revenue-generating areas — AI data centers, enterprise AI and AI consumer services.SKM’s Zacks Rank & Stock Price PerformanceSK Telecom currently carries a Zacks Rank #4 (Sell). Shares of the company have gained 2.6% in the past year against the sub-industry's decline of 17.1%.Image Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked stocks from the broader technology space are InterDigital, Inc. IDCC, Celestica Inc. CLS and Plexus Corp., Inc. PLXS. IDCC, CLS & PLXS presently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks hereIDCC is a pioneer in advanced mobile technologies that enable wireless communications and capabilities. The company engages in designing and developing a wide range of advanced technology solutions, which are used in digital cellular as well as wireless 3G, 4G and IEEE 802-related products and networks. It has a long-term growth expectation of 17.44%.Plexus is a leading provider of electronic contract manufacturing services to original equipment makers in a wide range of industries, including Healthcare/Life Sciences, Industrial and Aerospace/Defense market sectors. In the last reported quarter, PLXS delivered an earnings surprise of 20.92%.CLS provides competitive manufacturing technology and service solutions for printed circuit assembly and system assembly, as well as post-manufacturing support to many of the world's leading original equipment manufacturers. 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Click to get this free report Plexus Corp. (PLXS): Free Stock Analysis Report SK Telecom Co., Ltd. (SKM): Free Stock Analysis Report Celestica, Inc. (CLS): Free Stock Analysis Report InterDigital, Inc. (IDCC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks