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POSCO ICT to form full-fledged Korean RPA alliance

2019.11.29
- Partnership with leaders in finance, distribution, and logistics for the advancements and proliferation of RPA
- Full commercialization including launch of RPA solution A.WORKS, an RPA solution developed in-house


POSCO ICT (CEO: Son Geon-jae) plans to form an ambitious alliance with major local partners for the advancements and proliferation of RPA (Robotic Process Automation) systems and related products.<!--?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /-->

POSCO ICT recently launched the product “A.WORKS,” its own RPA solution, along with its strategic partners at the Plaza Hotel.

Having recently grown exponentially thanks to the introduction of the 52-hour week system, the local RPA market has been driven mostly by non-Korean solutions. Efforts of POSCO ICT including the launch of A.WORKS are drawing attention as a unique attempt to take over the market.
 
As the foundation for expanding the share of the RPA market, POSCO ICT entered into a series of partnerships with major players such as CJ Olive Networks, AK IS, and Shinsegae I&C., starting with Hana TI, the IT wing of the Hana Financial Group, in August last year. The company aims to succeed in the pilot project based on the expansive alliance with companies representing sectors such as finance, distribution, logistics, and service so that the expertise and know-how of the partners can be utilized for its own solutions while gaining knowledge of the RPA market.

POSCO ICT also plans to penetrate into the global market by utilizing the partnership network including its own sister companies such as POSCO Chemical and POSCO International as well as existing partners including Hana TI, KEB Hana Bank, Hana Card, and CJ Olive Networks. These efforts are being made alongside the verification and commercialization of the new business model of providing RPA services specialized for the tax and accounting sector by working with Seohyun Accounting Group.

POSCO ICT is expanding the RPA-based automation by linking its solutions with other technologies like optical character recognition (OCR), text analysis (TA), and chatbot. Both OCR and TA are known to be working together; OCR is currently embedded in the RPA solution from POSCO ICT, but its performance has been improved by tuning the engine. On the other hand, the TA solution is being complemented by the contextual analysis of the text recognized by the OCR solution so that the applicability of RPA solutions can be further broadened.

“It started from simple office automation, but our goal is to provide the ultimate RPA system capable of thinking like humans and efficiently interacting with the people by incorporating intelligent technologies like AI,” a representative of POSCO ICT explained.

Meanwhile, in its 2018 Global RPA Market Share Report, GARTNER forecast the global RPA market to record revenue growth from approximately USD 518 million in 2017 to USD 846 million in 2018 (63.1%) and to about USD 1.3 billion in 2019.
 
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