South Korea to Invest $14.7M in AI Models for R&D by 2029

South Korea plans to invest 22.5 billion won (US$14.7 million) until 2029 to develop artificial intelligence (AI) models tailored for research and development (R&D), the science ministry said Thursday.

It comes amid efforts to increase R&D efficiency in major strategic sectors by utilizing AI, the ministry of science and ICT, said.

Under the plan, the government will inject funds to support six AI model development projects in major strategic sectors, including bio, chemicals and energy. Each project will be led by an AI expert and an expert in the representative field, the ministry explained.

The government will also provide necessary infrastructure, such as graphic processing units (GPUs), for the development of the AI models. The models created under each projects, as well as related data, will be made public on an open platform, the ministry added.

"We will actively provide support so that AI can be used in R&D and accelerate scientific discovery and innovation," the ministry said in a release.