SK Group Chairman Chey Tae-won said that the social value of AI should be measured in order to use the AI technology for humanity.
Chey made the remarks as a speaker at the Nanjing Forum in Jiangsu Province, China, on Nov. 23. Nanjing Forum is an academic forum in social and natural sciences co-hosted by the late SK Group Chairman Chey Jong-hyun and Nanjing University every year. The Nanjing Forum was held under the theme of "AI Era, Opening the Future."
"High-tech technologies such as machine learning and AI have a profound impact on human life, but at the same time, they bring concerns and concerns," Chairman Choi said. "The international community should take an active role in creating social values by utilizing advanced technologies."
He also stressed, "For AI to be used for mankind, a method that can measure the social value of AI in quantity and quality must be prepared."
In his opening speech, Chey explained SK's "Double Bottom Line (DBL)" designed as a method of measuring social values. "DBL" refers to a methodology that measures a company's performance on a monetary basis by combining direct and indirect economic activities and social contribution activities, such as employment, taxation, carbon emissions, corporate social responsibility, subsidies.
Introducing SK's DBL measurement results from Jiangsu Province, China last year, he explained that the company has created a social value of 152 million dollars overall, although it recorded a negative $80 million in the environment sector.
SK, however, recorded negative social value in the environment sector as it is based on manufacturing such as oil refining and semiconductors.
He then said that through continued cooperation in the future, the social value of the environment sector will be "zero" by 2023 and expanded to $2 billion by 2029, 10 years later.
SK's separate measure of social values in the environment sector is expected to have a significant impact on China, which has a weak corporate perception of environmental pollution.
During the speech, Chey also introduced examples of SK creating social value by utilizing advanced technologies such as AI in such fields as semiconductors and electric car batteries. "By introducing AI and big data systems to SK's semiconductor factories, we have found algorithms that optimize factors for economic and social values and are maximizing them," he said.
"In the electric car battery sector, we are also reducing environmental pollution such as battery life extension, maintaining residual value and recycling and increasing consumers' benefits through big data analysis," he added.
Meanwhile, SK Group signed an agreement with Nanjing University to establish an "intelligent solution window center" that will conduct joint research in the AI field. Chey and other SK executives then met with high-ranking officials in Jiangsu Province, including party chief Lu Wu Chin-jen, to discuss plans for business cooperation.