CJ Group's Lee on AI Business Strategy

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00:00Of course, we know CJ very well for its key content.

00:03Tell us a little bit about how CJ is looking at the AI revolution

00:07when it comes to doing your own business.

00:10Yeah, so at CJ, we are seeing AI as the, you know,

00:14completely changing kind of game changer for,

00:17to industrialize all the, you know, entire value chain.

00:21So in particularly, we in CJ are looking at the industrial sector

00:26focusing on the lifestyles such as food and logistics

00:29and entertainment and retail.

00:32So that we are trying to, by utilizing AI,

00:35we want to enhance lots of people by enhancing the creativity

00:41and the unlocking operation

00:43and then also the providing more personalized content.

00:47So what we are seeing the AI from the CJ point of view

00:51is that we are seeing the AI as a strategic, you know, growth engine.

00:56Instead of just a simple, you know, the tool.

00:59It's interesting because CJ has so much visibility

01:01about consumer trends, right?

01:03You're very close to what the broader public wants to see.

01:07How receptive are they when you incorporate AI into your business?

01:12So I think that's a really good question.

01:15So we are, you know, trying to democratize all the, you know,

01:22the process and the people who are participating.

01:26For instance, for the key contents, these things,

01:29a lot of people will be engaged in not only watching or enjoying,

01:34but also, hey, I want to make my own story and things like that.

01:37So the, you know, creation part and distribution part

01:41and engagement part, these three pillars will be changed completely

01:44so that our CJ is trying to, you know, build up all the AI,

01:49you know, platform and foundations to prepare for this upcoming future.

01:53I think you recently just launched Millstone Q, right, in the summer.

01:58So does this sort of video search and editing content,

02:02it's a video solution.

02:03Tell us a little bit about this

02:04and what it means for the future of CJ.

02:09Yeah, so as I briefly mentioned that the culture

02:13powered by AI will be completely revolutionized.

02:18So people will, the demands more interaction,

02:22but also the more immersive experiences.

02:25So as a part of that, we start with Millstone Q,

02:28which allows people to participate in creating

02:32or expressing their imagination

02:35and then, you know, providing more AI engines

02:38so that they can actually, you know,

02:41make their imagination, you know, dream come true

02:45by actually expressing what they want.

02:50Enhancing creativity is great

02:52and the use of artificial intelligence is a very big positive,

02:55but what about the downside of AI as well

02:58that could lead to job losses

02:59where actually people's, it's not about enhancing creativity,

03:03but actually replacing creativity.

03:05Oh, I just want to make sure that we don't actually,

03:08I don't think AI people will aim to replace.

03:11It actually assisting or enhancing, you know,

03:15people's imagination

03:16because a lot of people, like including me,

03:18I have a lot of imagination to express my thought

03:21or my own, you know, things I want to do,

03:25but I have a kind of limitation in terms of my skills

03:28so that this AI tool can,

03:30hey, you know, Chihun or other people,

03:32you know, if you have anything,

03:34you know, let me help you.

03:35I mean, let AI can help, you know,

03:37work through to express.

03:39But if in the past you would have asked somebody for help,

03:41it increases efficiency

03:43and you don't need to ask for somebody else for help.

03:45Exactly.

03:45Is that going to lead to job losses

03:47and could that be a problem?

03:48Is that something that CJ thinks about?

03:50No, I think we want to build some kind of collaborative, right?

03:54So it's not just replacing the one side from,

03:57I mean, job taking one,

03:59I mean, jobs from one side to the other, right?

04:01It's kind of the creating ecosystem to work.

04:05The people can, you know,

04:06together with whoever has some kind of imagination,

04:10you know, can come to this kind of platform

04:13or the tool

04:14and then they can push their idea

04:16to bring to the other people.

04:19But in this process,

04:21I mean, it's not just eliminating one job, right?

04:23It's just like collaborating

04:24where they can learn from,

04:26also the people can,

04:27humans can also learn from other people's creativity

04:30so that we can build some kind of ecosystem.

04:33You have visibility not only into South Korean consumers,

04:36but also globally, right?

04:38What does this visibility tell you

04:40about the prospects of artificial intelligence?

04:42Because there's so much exuberance right now

04:44and so much money going in and out of the system.

04:47Do you believe that this ecosystem will grow

04:49and meet those expectations?

04:51Yeah, so basically one of the key contributions

04:54expected from AI

04:56is to connect consumer to product, right?

04:59So that through this, the AI,

05:01you know, we, AI is trying to find,

05:04you know, who is going to be

05:05the right audience for the right product, right?

05:08So that it actually trying to understand

05:11consumers' intent.

05:12And then also AI can help deliver

05:15what consumer wants instantly, right?

05:18So these are some sort of the ecosystem

05:21what we are trying to see.

05:23So when it comes to CJ,

05:24we talked about K-content,

05:26but you also have like logistics infrastructure,

05:28you have also foods,

05:29of course, BBGO.

05:30So where is the sector that has the most potential

05:34for the use of artificial intelligence?

05:36Oh, from our point of view,

05:38of course, the logistics side, right?

05:41We can actually lower the cost,

05:43but also, you know,

05:44in a creativity part or the culture part.

05:47Because as I briefly mentioned there,

05:49it's not just from the AI point of view.

05:51It's actually culture is evolved, right?

05:53The culture requires or needs more immersive experiences

05:58and the more personalized content

06:01so that, you know,

06:02based on this demand,

06:04AI can help.

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