Brain Ventures (CEO Kim Won-hee) participated in the ‘2021 Metaverse Hub & DCC Global Demo Day’ held on the 8th and introduced an artificial intelligence content automatic translation service.
Brain Ventures is an artificial intelligence natural language processing company that executes translation, evaluation, and creation of human language by computer. Founded on May 15, 2020, it was selected and is currently active as a resident company by the Pangyo NIPA (National IT Industry Promotion Agency). It is improving its technology by carrying out four government R&D tasks in the field of artificial intelligence between 2020 and 2021.
The main production services of the company include an artificial intelligence video content automatic translation service and an artificial intelligence subjective scorer service. In March 2021, it completed attracting 70 million won in angel investment and capital increase.
During the Demo Day, the company presented Metaphor, a service that automatically translates content using artificial intelligence natural language processing technology, and MAXUS, a service that preliminarily grades subjective essay answer sheets with artificial intelligence. Artificial intelligence natural language processing technologies such as back translation, text meaning detection, and multi-encoder have been used in these products were used to make these services. Currently, both these services are being provided to start-up companies.
An official from Brain Ventures said, “In 2021, sales increased by 1,900 percent compared to the previous year, the number of company employees was doubled, a total of 7 patent applications and registrations were made, and a standard technical report was established. As a result, we were able to build a stable initial sales structure as well as to accumulate technology.”
In addition, “We have successfully conducted joint research on text summary and sentiment extraction with researchers from Ashmanov Neural Networks in Russia. Based on this technology, we plan to launch a service worlwide that automatically scores subjective tests using artificial intelligence in the future. “, he explained.
He continued, “As a non-face-to-face society has arrived in the aftermath of COVID-19, the field of artificial intelligence is rather active. The company’s history is still young, so there are some difficulties in winning business orders or promotions, but we want to overcome it through events like this demo day.Currently, we have received angel investment and plan to achieve series C while achieving a total of 4 milestones, and we plan to continue making additional investments by having technology as a base. Through this, we plan to grow into a technology-based company and establish the U.S. branch by 2022. We are working towards the goal of EXIT through public listing for technology companies in 2025.”
Meanwhile, the 2021 Metaverse Hub & DCC Global Demo Day was organized by the Ministry of Science and ICT (Minister Hye-sook Lim). It was held to discover promising companies with great potential for overseas expansion among the companies supported by the Metaverse Hub and Digital Contents Company Growth Support Center (DC Center), a business support facility operated by the National IT Industry Promotion Agency(President Chang-yong Kim) and the Next Generation Convergence Content Industry Association (Chairman Yo-cheol Choi, NCIA),