(EDITORIAL from Korea Times on Aug. 21)

Although artificial intelligence (AI) is increasingly seen as a critical industry for the future, Korea is still significantly behind other leading nations in terms of AI talent and investments. According to a recent survey by the Korea Institute of Science and Technology Evaluation and Planning (KISTEP) on the "R and D human resources for national strategic technologies," Korea had 21,000 AI researchers last year, placing it ninth globally. Additionally, the country produced 14,000 AI-related research papers, ranking 12th in the world. In comparison, China leads the field with 411,000 AI researchers and 220,000 AI-related papers. India follows as a close second with 195,000 researchers and 117,000 papers, while the United States ranks third with 120,000 researchers and 88,000 papers. It's important to note that the survey focused exclusively on the AI sector. According to the Global AI Index by Tortoise Media, which evaluates the overall competitiveness of each country's AI sector, Korea ranked sixth out of 62 countries. The United States and China held the top two positions, respectively. A closer look at the details reveals a more troubling picture for Korea. With the United States scoring 100, China at 61.5 and Singapore at 49.3 in third place, Korea's score of 40.3 puts it in sixth, just ahead of Israel at 40.0. This indicates that countries ranked from third to seventh fall within a narrow range of around 40 points, significantly trailing the top two nations. Korea's score of 40.3 is below the average of 48.5 for the top 10 countries, highlighting the challenges facing the country's AI industry. In the AI industry, which is often referred to as a jungle due to its intense competition and the significant investments and government support that are required, survival is challenging in the absence of substantial backing. Against this backdrop, it is encouraging that the Yoon Suk Yeol administration has set ambitious plans to elevate Korea's AI sector to among the world's top three by 2030. However, achiev ing this goal may be difficult due to lackluster efforts and support. A national AI committee will soon be established under the presidential office, raising hopes for progress. However, fostering a thriving AI ecosystem requires more than just government initiative. It needs support from all relevant stakeholders. First and foremost, the role of the National Assembly is crucial. It should speed up efforts to legislate bills to eliminate unnecessary regulations and help AI businesses. Many businesses have hesitated to make long-term investments due to a lack of AI-related standards and laws. The National Assembly should act swiftly on pending semiconductor bills to create opportunities for companies to engage more effectively in research, development, and marketing activities. Secondly, businesses must cultivate an innovative mindset. Various surveys highlight a lack of private-sector investments as a major weakness in Korea's AI sector. Some leading tech companies have been criticized for overly diversify ing their portfolios and neglecting investments in AI. It is advisable for more entrepreneurs to strengthen their focus on AI, prioritizing long-term growth and innovation over short-term, readily available profits. Lastly, it is crucial to intensify efforts to attract and retain experts in the AI sector. Education authorities should seek methods to develop AI expertise while addressing the potential overemphasis on medical fields. We hope the new presidential AI committee will serve as a central hub for fostering a robust AI ecosystem. Boosted by the global rise in demand for AI chips, Korea's major semiconductor makers managed to register phenomenal growth in operating profits in the second quarter of this year. For instance, Samsung Electronics achieved a remarkable 1,462 percent growth in operating profit compared to the same period last year. It is time for companies to intensify their efforts to stay ahead in the competitive AI chip market. AI technology will increasingly enhance consumer experiences by improving connectivity among various devices. This advancement means AI will be pivotal in transforming the entire industry and expanding existing technologies. In short, AI will become a driving force, enabling companies to develop new businesses and deliver unique value to consumers. The government should now prioritize expanding AI investments as a national agenda. This approach is essential for ensuring that Korean companies maintain their competitive edge and lead in the global market. Source: Yonhap News Agency