Upstage announced on June 9 that it has acquired the generative artificial intelligence (AI) multi-platform company Timely. This acquisition follows Upstage's purchase of AXZ, allowing the company to significantly expand its footprint in the business-to-business (B2B) market.
Timely operates the TimelyAI platform, which enables users to create AI agents for work tasks without any coding. The platform integrates various AI functionalities, including prompt generation and image and video conversion. It is currently widely used across various sectors, including local governments and educational institutions, such as the Seoul AI Chat initiative.
With this acquisition, Upstage aims to enhance its AI agent business by leveraging TimelyAI, which is powered by Upstage's own large language model (LLM) called Solar. Following the AXZ acquisition, which expanded its model distribution channels, Upstage plans to accelerate the spread of its AI ecosystem, encompassing public services, education, and general users. The advanced document processing capabilities of Solar are expected to be combined with Timely's workspace features to target the B2B automation market actively.
Kim Sung-hoon, CEO of Upstage, stated, "The competition in the AI industry will hinge on how quickly and effectively models are deployed in the field. We will support not only developers but also anyone to implement customized work automation using AI, thereby enhancing the public's sense of AI efficacy and elevating the nation's AI competitiveness."
Timely CEO Kim Dae-hwan also commented, "The integration with Upstage will elevate the practical usage and depth of the domestic AI industry. We aim to lead the era of AI agents where anyone can easily access the AI they need from a single platform."
* This article has been translated by AI.
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