GOVT'S 10 YEAR AI TECHNOLOGY PLAN

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Artificial intelligence is fast emerging as a new growth engine and global competition is heating up as countries try to stay ahead in the field. The South Korean government has also laid out a ten year project to create an ecosystem to foster AI.

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These test results show the risks of brain disease. The process is carried out not by a doctor but artificial intelligence. AI can now study patients' big data for a prognosis on diseases. The application of AI is truly limitless, spanning numerous areas such as medicine, manufacturing and education. But South Korea's AI technology stands at about 80% the level of advanced nations.

[Soundbite] KIM DONG-MIN(PRESIDENT, AI FIRM) : "The biggest challenge in recruiting researchers is finding talented people with outstanding capabilities in relevant fields."

To catch up, the government announced national strategies to foster AI. Within 10 years, one trillion won will be invested in developing semiconductors with memory and judgments like humans. Students will learn about AI from elementary school. Related courses will be expanded to help better nurture AI experts. Also, a venture fund of over 5 trillion won will be created to help business startups in the field. Global competition over AI is fierce as the US, China and Japan join the battle for supremacy in related technologies. Thorough strategies need to be devised in order to take on all comers.

[Soundbite] PROF. CHUNG DOO-HEE(HANDONG GLOBAL UNIV.) : "The main focus is currently on fostering technical experts but we need to groom specialists with knowledge of AI in various areas including market experts."

Through the AI master plan, the Korean government aims to generate 455 trillion won in economic effects and raise the country's standard of living to the tenth highest in the OECD by the year 2030.