South Korea vows to invest $1B for artificial intelligence

Nov. 25 (UPI) -- South Korea pledged to invest about $1 billion for artificial intelligence in semiconductor manufacturing to build on the nation's success developing computer chips to power economic growth. President Moon Jae-in said Wednesday at a meeting of South Korea's top tech executives in Goyang, Gyeonggi Province, that his administration is prepared to improve regulations on artificial intelligence and provide a road map for innovation, EDaily and News 1 reported. "Countries around the world are competing to dominate in artificial intelligence," Moon said. "South Korea's dream is to become a leader [in the sector] in the post-pandemic era." Moon also said Korea has applied AI for public use, and that Seoul will work to open an "AI era" that would allow South Koreans to enjoy the benefits of innovation in their daily lives.