A curious announcement from LG CNS, the South Korean giant’s IT services and consulting arm – the company is rebranding its platform business to focus on technologies around the Internet of Things (IoT), blockchain and artificial intelligence (AI).
The release, which can be found here (Korean), notes that – rudimentarily translated – LG CNS’s strategic branding ‘means that it will lead the platform and solution-based business model as well as enabling efficient digital transformation of [the] customer business by providing the core technology of the fourth industrial revolution as a platform that customers can trust and choose.’
There are seven brands LG CNS will be working under. IoT is covered through INFioT, an ‘infinite scalable internet platform’, smart city platform Cityhub, smart factory automation tool Factova, and Enerdict, which provides energy management services. AI is covered by DAP, the company’s multi-cloud based AI and big data analysis platform, and Orott, a robotics service.
The translation for the blockchain side of proceedings, meanwhile, has to be seen to be believed. Monachain is a portmanteau of monaural – of one ear – and blockchain. “Science, philosophy, and arts, Leonardo Da Vinci’s monumental work, such as the Mona Lisa, is meant to consolidate its leading position in a variety of areas including public, finance and communications,” the release informs us. “It provides [an] enterprise core blockchain platform with three core services: digital certification, digital community currency, and digital supply chain management.”
It is worth noting that this is essentially a ‘brand’ announcement, with many of the products having been previously announced. According to Business Korea last month, Orott “provides a new robot service by linking IT systems in airports, shopping malls, and distribution centres with various robots such as guide robots, security robots, and cleaning robots.” Think similar to Pepper, SoftBank’s robot, and its various roles in shopping centres – although some customers in Scotland were less than keen.
Monachain, as ZDnet put it at the launch in May, is aimed at the banking industry, although has a wider range of enterprise use cases and can be also applied in the telco and manufacturing industries. Factova, launched in April, is according to the Korea Herald able to cut down project times in the manufacturing sector – from research, product specification to design and manufacture – from more than six months to less than three months.
LG CNS added that the move aims to help change the company’s image, which is traditionally technically-oriented, by ‘capitalising on strategic brands and spreading them to customers and industry.’
Regardless, there is plenty of enthusiasm in the combinations AI, blockchain and the IoT can provide. According to Dimension Data last October, blockchain, machine learning and robotics would ‘reshape digital business’ in 2018, while MarketNewsUpdates said in June that the three technologies ‘are now forming a new and innovative fusion for upending business operations across all industries in ways not seen before.’
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