Twelve Labs and LG CNS Partner for Video AI Advancement

• Twelve Labs partners with LG CNS to boost video AI technology.
• The agreement focuses on enhancing multimodal video understanding and AI transition.
• Collaboration aims to provide video AI solutions across various industries.
• The partnership could lead to new business opportunities and advanced service models.
• Innovative solutions will target media, safety, and legal sectors.

Twelve Labs and LG CNS Join Forces for Video AI

Twelve Labs is embarking on an exciting journey with LG CNS aimed at enhancing their video artificial intelligence (AI) tech. The announcement was made earlier today, noting that the two firms inked a memorandum of understanding (MOU) for their collaboration. This partnership is set to combine Twelve Labs’ innovative multimodal video understanding technology with LG CNS’ expertise in customized AI transition, also dubbed AX technology, as well as their substantial business capabilities. In an industry where the potential for video analysis is massive, this collaboration could be a game changer for quite a few sectors.

Expanding Video AI Solutions Across Multiple Industries

Together, these powerhouses plan to extend the reach of video AI solutions into varied fields, including media and broadcasting, security, public safety, and several legal agencies. Twelve Labs has already set its sights on the global video market, leveraging its advanced multimodal neural network technology. Back in April, they made headlines by launching their AI models “Marengo” and “Pegasus” on Amazon Bedrock, marking a significant arrival of Korean tech in the Generative AI realm. Meanwhile, LG CNS is also taking steps forward, focusing on its AX business by securing projects that harness Generative AI across various industries, including finance and public sectors.

Innovative Solutions for Media, Safety, and Legal Sectors

Looking ahead, both companies aim to enhance Twelve Labs’ VFM model while creating new services that can substantially benefit their industries. In the specific areas of media and broadcasting, there are plans to roll out several innovative solutions—think automatic summarization of news stories, quick highlights from sports matches, and even the instant detection of vital events captured by CCTV. Additionally, they’re considering features like summarizing footage from body cameras and black boxes, as well as identifying scenes related to incidents, all of which are crucial for legal and safety protocols. Lee Jae-sung, the CEO of Twelve Labs, expressed optimism about this partnership, emphasizing that their video understanding capabilities could deliver tangible value in real-world applications across various industrial landscapes.

In summary, this new partnership between Twelve Labs and LG CNS marks a significant step forward in video AI technology. By combining their strengths and resources, these two companies are looking to not only improve video analysis but also create impactful new services across various sectors. With innovative plans on the horizon, this collaboration could very well reshape how industries utilize video technology in the near future.