CI Guarantee, South Korea's leading construction guarantee provider, said Tuesday it would launch a next-generation digital platform on Aug. 1 as part of its push to modernize construction finance with artificial intelligence.
The platform will offer mobile guarantee applications through KakaoTalk, an AI-powered contract-drafting system and a 24-hour AI chatbot service.
Member companies will be able to apply for guarantees directly through the KakaoTalk channel without submitting additional paperwork. An AI-powered optical character recognition system will automatically extract key information from uploaded contracts — including the contract value, construction period, client and contracting parties — and prepare guarantee applications.
CI Guarantee said the system is expected to significantly reduce processing times and manual input errors.
The mobile application service and OCR functions will initially cover high-demand products, including bid bonds, performance bonds and warranty bonds, before being expanded to other guarantee services.
The company has also introduced an AI chatbot on KakaoTalk to provide round-the-clock assistance with guarantee applications and other operational inquiries.
CI Guarantee said the platform marks a major step in the digital transformation of the traditionally conservative construction guarantee sector.
“This service is the result of customer-centered digital innovation and enables our members to access guarantee services anytime and anywhere,” said Choi Un-gu, acting chairman of CI Guarantee.
“We will continue incorporating AI and digital technologies to reduce our members' administrative burden, improve service quality and drive innovation in construction finance.”
stlee0329@heraldcorp.com