SEOUL, June 9 (AJP) - Artificial intelligence (AI)-related unicorn Upstage has acquired multi-platform company Timely, it said on Tuesday.
The acquisition follows Upstage's earlier acquisition of AXZ, the operator of web portal Daum, as the startup seeks to secure generative AI capabilities and expand its reach across industries.
Timely is a generative AI-powered solutions company that operates TimelyAI, formerly TimelyGPT, a platform that allows users to build AI agents for work without coding.
The platform offers various solutions used by local governments, public agencies, and educational institutions by integrating AI functions needed for business tasks including generating images and videos and converting documents using various large language models.
Upstage said it plans to expand its AI agent business by integrating its in-house large language model Solar into TimelyAI.
It added that its earlier AXZ acquisition broadened channels for distributing its own AI models, and that Timely will help accelerate its AI ecosystem strategy by connecting more users.
"The competition in the AI industry will be decided by how quickly and deeply models are deployed in real workplaces to get the job done," Upstage CEO Kim Sung-hoon said at a signing ceremony for the acquisition at its office in southern Seoul.
He also expects that Timely's proven know-how, combined with Upstage's technology, will enable not only developers but anyone to implement customized work automation with AI.
"With the collaboration of Upstage and Timely, the breadth and depth of real-world AI use in South Korea will take a leap forward," said Timely's CEO Kim Dae-hwan. "We will lead an era of easy-to-use AI agents so anyone can access all the AI they need in one place."
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