What is necessary for a service provider to provide customers with Artificial Intelligence (AI) service? One might answer the data and the engine. The AI engine, which is created by learning from the data, offers optimized solutions. To have good answers, good data and a good engine are essential. 

However, in modern society, an optimal solution for one person is likely to be different from an optimal solution for another. The answer varies depending on time, place, and occasion. Therefore, to give the best answer to an individual customer at any particular time, location, event, and circumstance, it is necessary to have a customer's individualized data and an optimized engine for each. Let us call this the Hyper-Personalized AI Services.

Ask yourself, who would have the most data about the individual customer? Unfortunately, the data currently held by business operators are far from sufficient to provide proper AI services. Then, which business operator has the ability to collect the most data for each consumer the fastest with the least effort?

Business operators can only collect data within the scope of their own transactions or pay a separate fee to obtain it from other sources. Financial institutions and businesses are already spending considerable amounts of money to collect customer data. However, collecting enough data to provide effective AI services is a long way off.

Imagine a paradigm shift where each consumer collects data related to ALL of their activities, almost automatically. The scope of this data would be far superior to the data collected about a consumer by a single company because the data would include the entirety of the consumers activities with all companies, rather than only the activity of that consumer with a single company. A wide variety of categories and details can be accumulated around that individual consumer. That is the advantage of User-Centric AI Services.

Let's think about the hypothetical situation below:

Each individual continues accumulating data in daily life, preserving their ownership and privacy. Each may exercise their data rights. Each can sell it for money or other benefits as well, if they so choose. Because the individual keeps the ownership and confidentiality of the data that is collected, they are comfortable entering ADDITIONAL data about themselves according to their own wants, needs and choices.

An AI engine comes into each user's data jar and uses the data to provide answers and suggestions tailored to that user's specific circumstances. Each engine evolves into the most optimized engine for that particular user by continuing to learn from the data in the user's jar, providing results, and receiving feedback. Each engine finds other engines that can be compared or referenced to itself, performs 'Federated Learning,' and shares learned insights.

This process does not occur sequentially but simultaneously in various places, and each AI service evolves. The platform that provides these services is the User Centric AI Sharing Platform. This platform offers Hyper-Personalized AI Services, which include payment, banking, and commerce services to each user, continually surprising us with products or services we did not even know we wanted.

Any business operator can use this platform as if it were their platform with their brand and strategy at no cost, leveling the playing field and allowing businesses to compete based on the quality of their products and services, rather than who has the most money. 

These are some of the things that make the User Centric AI Sharing Platform so appealing.

The User Centric AI Sharing Platform will be shared worldwide via local platform operators in each country. The networks of each country will be cross-connected to each other, using a single shared platform worldwide. The Ethiopian company is preparing to start the services in Ethiopia, along with a joint venture contract for platform businesses in 55 African countries, as announced in May 2022.

The User Centric Hyper-Personalized AI Services that anyone can enjoy any time, any place, are global from the beginning.

Kyung Yang Park, President of Harex InfoTech, Inc.

Founder, President, and Chief Visionary Officer (CVO) of Harex InfoTech, Kyung Yang PARK, graduated from Korea Military Academy in 1983, received his MBA (AI, Marketing Research) at the University of Alabama in 1989, and taught Economics, Accounting, and Business Administration at Korea Military Academy. He founded Harex in 1993 and has worked on User Centric payment innovation since 1994. In 2000, he founded a mobile card payment service company Harex InfoTech. Harex InfoTech's UBpay (MoCa at the time) won the Gold Medal in Best Technology for its "Payment 3.0 Platform", the world's first revolutionary User-Centric payment model at "The Innovation Project 2013" held by PYMNTS.com at Harvard University. President Kyung Yang Park attended the "World Economic Forum, Disruptive Innovation in Financial Services" workshop in 2014 and shared the vision of the User Centric Payment Platform, UBpay. In 2016, President Park received the Grand Award in Global Open Innovation Model at the "Society of Open Innovation Conference" held at San Jose State University. Also, in 2016 at Seoul National University, President Park presented his vision of User Centric AI and Better Capitalism by sharing the platform. 

In May 2022, he announced a plan for the digital platformization of the continent of Africa through the establishment of a digital platform infrastructure for 100 million stores in 55 African countries and User Centric AI Sharing Platform. President Park is the author of books including "Management Theory" and papers including "Effect of Economic Growth and Public Expenditure on Meeting Basic Human Needs" and "Opening the Era of Payment 3.0 for Happiness of Human Spirit: Innovation in Payments by Breaking Rules", and "User Centric New Economic Order and Public Policy."

[Harex InfoTech Inc.]

Introduction

Harex InfoTech is a first-generation fintech company established in 2000 that announced the world's first mobile card payment service in Silicon Valley (San Jose, CA) that same year. It won the Gold Medal in Best Technology at "Innovation Projects 2013" held by PYMNTS.com at Harvard University. Harex InfoTech shares its platform with all businesses to build a User Centric hyper-connected network capable of delivering hyper-personalized services driven by User Centric Artificial Intelligence (UCAI). These hyper-personalized services are heralding a new shared economic order, optimizing benefits to users and businesses.

[Terminology]

*User Centric Shared Platform: UB Platform

The User Centric Shared Platform is the Platform that

1) shares the "User Centric Service Paradigm" with all business entities and unites them, 

2) provides all users with hyper-personalized service to enhance their capabilities and happiness,

3) and empowers businesses to secure new customers, transactions, services, data, and AI capabilities to create continuous profit and growth.

*User Centric Service Paradigm

The User Centric Service Paradigm is a paradigm where:  

1) Individual users access service providers directly, pay, solve needs, accumulate data, and use AI, preserving privacy and holding the sovereignty of their data and AI;

2) The users access the service providers using their own devices as a router; 

3) There are no middlemen between a user and service providers (trust entities);

4) The user is the center of the network.

*Hyper-Personalized Service:

The Hyper-Personalized Service is a service that 

1) meets a particular user's needs at any time, place, and occasion,

2) pleasantly surprises users with products or services they did not even know they wanted or needed, taking advantage of the user's data using the AI engine optimized for that particular user.

*User Centric Artificial Intelligence (UCAI)

User Centric Artificial Intelligence

1) preserves individual user privacy while enabling any business to securely and fairly collaborate and form a federation with other businesses without sharing or integrating user data, 

2) provides users with relevant, novel benefits and increases corporate profits and value,

3) enhances user's capabilities and happiness, 

4) and increases the capabilities of all business entities. 

Any business entity across the board, even if not a big tech company, can deliver User Centric AI services through the Shared Platform without the associated risk and system investment that only big tech companies can afford. 

Original Source: Reproduced from the Korean version of the IT Chosun on July 6, 2022.