Huh Tae-soo, chairman of GS Group, said business uncertainty will persist next year and emphasized securing competitiveness by using artificial intelligence (AI).
According to GS Group on the 29th, Huh said in a New Year's management message, "With the low oil price trend and the possibility of weak demand continuing, the structural changes surrounding the energy and chemical industries are also difficult to resolve in the short term," adding, "We should not just watch the changes; we must act a step ahead and complete them with results over the year."
Huh said, "Change always comes faster than our preparation, and if we cannot keep up with its speed, we will inevitably fall behind," adding, "If we fail to protect the competitiveness of our existing businesses, no future can be collateralized, so we need to proactively respond to change to maintain profitability and execute meticulously to prepare for risks."
He said that clear opportunities exist even in a rapidly changing market environment and declared the new year the first year of "AI business impact." The aim is to link AI usage efforts pursued in existing business sites to concrete business innovation and revenue generation to produce results.
He emphasized, "The structural increase in power demand due to the spread of AI and the energy transition, expanded investment in the AI and semiconductor industries, the reorganization of global supply chains, and demographic changes are forming a new business landscape," adding, "If the group organically pools its capabilities, it can create new business opportunities and secure market-leading competitiveness."
He continued, "Our members have used AI as a tool to carry out countless new attempts over time, and this is gradually appearing as changes in the field," and urged, "Combine field-driven domain knowledge with physical AI, and show business impact through bold partnerships with external technology companies."