JB Financial Group has teamed up with Upstage, a leading artificial intelligence (AI) company, to develop AI-based tools for practical use across the financial sector as part of its broader effort to accelerate company-wide AI transformation, the group said Thursday. JB Financial Chairman Kim Ki-hong and Upstage CEO Kim Sung-hoon signed a memorandum of understanding on Monday, laying the groundwork for cooperation in financial AI technology and new business opportunities. JB Financial identified AI transformation as one of its key priorities at its executive strategy meeting in August. The partnership will bring together the financial group and its major subsidiaries, including Jeonbuk Bank, Kwangju Bank and JB Woori Capital, to create a group-wide AI collaboration network. Using Upstage’s proprietary large language model (LLM) technology, the companies will work on developing AI agents customized for banking and other financial services. The two sides also agreed to pursue a range of joint projects, including developing and testing new AI applications for finance, exchanging employees
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