- The Platform to share AI models for federated learning, not moving data from members to the Platform
- SME owners to soon launch their own AI services
Harex InfoTech, the User Centric Artificial Intelligence (UCAI) Sharing Platform provider, announced AI Sharing Platform business alliance with the Korea Franchise Association (KFA, Chairman Hyun Sik Chung) on August 19, 2022.
Harex InfoTech and KFA agreed to provide the KFA members with the Sharing Platform where the franchisees may deliver hyper-personalized services and targeted marketing. Prospective entrepreneurs visiting the KFA website can also find AI-driven support, such as ideas for new startups, promising menus for food and beverage, and favorable locations for a particular business. Harex InfoTech and KFA agreed to continue working together over the Platform to help KFA members increase customer touchpoints and sales, develop new businesses, and enter the global market.
The Korean franchise sector has more than 5,600 franchisors with 7,000 brands and 270,000 franchisees. Now is the time for Korean franchises to turn to overseas global markets with enhanced competitiveness powered by hyper-personalized AI services.
The AI Sharing Platform shares its AI models with the franchisees for learning. The insights gained from the AI models are integrated into the AI center for Federated Learning to advance its intelligence. The members' and franchisees' data does not move to the AI center. The Platform enables the customers to view and manage all their transaction data in a User Centric mode. Customers may enjoy at their convenience a variety of benefits through hyper-personalized services based upon abundant data of their own, which reflects their needs.
Big Tech collects all the data generated by the franchisees' customers, leveraging the clauses where the customers have no choice but to consent to provide their data. One of the franchisees lamented, "We want to attract more customers and increase customer touchpoints with them. In actuality, however, the franchisers have no idea who their customers are." Moreover, according to an official from a credit company, even card companies cannot obtain store information. However, the Shared Platform may resolve this issue by opening direct interaction channels between customers and all stakeholders, including KFS members, franchisees, and payment card companies. In addition, the Shared Platform allows businesses to share and utilize customer touchpoints and services that customers need.
Once Harex InfoTech shares its AI Sharing Platform with the KFA, the Association will add the platform project to one of its policies to support members. And the KFA will promote and deliver the Platform to members, administering it as a mutually beneficial project between the Association and its members.
Subsequently, by utilizing the AI models delivered by KFA, each franchiser can increase customer touchpoints and sales with targeted marketing and hyper-personalized services while creating comprehensive synergies through joint marketing with other franchisers. Harex InfoThech has already introduced ten marketing service models based on the User Centric AI, with more underway. For example, in the future, KFA members will receive tailored information, such as crucial information necessary for franchise training and orientation. In addition, KFA will integrate the information currently dispersed at various organizations, such as the Ministry of SMEs and Startups, the Korea Fair Trade Commission, KOTRA, etc., for the benefit of member companies. Such information includes industry-market trends, statistics, and policies.
Harex InfoTech's President Kyung Yang Park emphasized, "AI is a key factor to the success of the future business. Through this business alliance with the Korea Franchise Association, we are providing the Sharing Platform to the association members unable to adopt AI due to various circumstances, with robust follow-up support for implementation. We look forward to the members utilizing it as a springboard for sales growth and global market entry." The Korea Franchise Association's Chairman Hyun Sik Chung commented, "Deploying artificial intelligence - a capability previously exclusive to major tech companies - to our members will significantly enhance competitiveness across the board. The franchise industry has become deeply subordinated to major platforms such as Baemin and Yogiyo. Under those circumstances, I find great meaning and potential for this Sharing Platform of franchise business headquarters and franchisees".
Harex InfoTech continues to take the initiative to build a User Centric Hyper-connected Network with the Shared Platform, providing hyper-personalized services and targeted marketing driven by UCAI, driving new revenue. Harex InfoTech's User Centric Artificial Intelligence Sharing Platform is heralding a new shared economic order by scaling for maximal benefits to customers and businesses.
In 2016 at Seoul National University in Korea, Harex InfoTech's President Kyung Yang Park presented the vision of the User Centric Artificial Intelligence (UCAI) and the Better Capitalism that UCAI will inevitably bring.
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.
