Executives of KAI and Konan Technology sign agreement for acquiring shares in the technology firm. (Yonhap)
Korea Aerospace Industries announced Wednesday that it will acquire a 10 percent stake in Konan Technology, a company specialized in AI and big data.
This investment in shares comes as an effort to acquire future industry-related technology by implementing AI, big data and deep learning into the aviation and defense sectors.
KAI and Konan Technology will work together on developing an AI-based prognostics and health management system that can be used on Korean Utility Helicopter, KF-21, FA-50, and urban air mobility.
PHM is a system that diagnoses the condition of an aircraft and predicts the residual life, maximizing maintenance efficiency.
KAI and Konan Technology are also planning to jump into the defense data business as well.
They will promote new AI and big data platform-based businesses involving a core defense technology development project that analyzes timing and total cost of maintenance by diagnosing military’s big data and weapon system.
The two will also acquire key technologies for future aircraft operation such as software for autonomous flight and collision avoidance AI algorithms and large-capacity flight and operation data analysis.
Such technologies can also be used in the space industry as well to analyze videos and sounds acquired through satellites.
“We plan to speed up the digital transition of KAI through strategic cooperation with the innovative company. We will focus on strengthening the growth momentum of future industries,” said KAI President and CEO Ahn Hyun-ho.
By Hong Yoo (firstname.lastname@example.org