NeuralD is an AI-based infrastructure asset management data platform corporations. CEO Gwak Ji-ho founded it in Sep. 2023. Gwak, who comes from a Samsung Aerospace research and development background, later worked at a U.S. venture in the imaging field. Gwak noted that the surge in global demand for managing aging infrastructure presented a business opportunity.
Gwak said, "Infrastructure such as power grids, roads and communications is already aging, and the need for management is growing worldwide," adding, "The global social overhead capital (SOC) market is about 1,000 trillion won, and within it, the autonomous inspection and diagnosis market reaches 30 trillion won."
At present, most large-scale infrastructure inspections are performed manually. Inspectors walk around, shoot with a DSLR camera, and then return to the office to organize the data. It is not only time-consuming and costly, but it also has the limitation that results can vary depending on the worker's level of proficiency.
NeuralD replaced this process with AI. The company's core solution "AI ADS" is an autonomous inspection system that automatically captures infrastructure facilities and diagnoses defects in real time. When mounted on a vehicle traveling at about 30 kph, the AI recognizes facilities such as utility poles, and performs capturing, storing and analyzing all at once. AI ADS was co-developed with Korea Electric Power Corporation (KEPCO) and has completed demonstration, and it is currently in the commercialization stage.
Gwak emphasized, "AI ADS completes capturing and diagnosis within one second as the vehicle passes," adding, "It automatically detects abnormal signs such as cracks, discoloration, and component detachment on utility poles, and can deliver more than about 40 times the efficiency compared with the conventional manual method."
From the early stage of establishment, Gwak targeted the global market. Overseas expansion is in fact progressing quickly. In May last year, NeuralD carried out a monthlong utility pole inspection pilot on-site with the Saudi Electricity Authority, and in Feb. this year it established a branch in Riyadh, Saudi Arabia. It is currently in talks to provide full services.
Gwak said, "Saudi Arabia is an environment where temperatures rise to 50 degrees, making it difficult for people to conduct inspections directly," adding, "Our method, which allows inspections simply by a vehicle passing by, is far more efficient and safe."
It is also targeting Southeast Asia and the North American market simultaneously. With support from Korea Electric Power Corporation (KEPCO), it plans to conduct a pilot with the Vietnam Electricity Authority in May, and it is preparing demonstrations within the year in Canada and Indonesia. It is also continuing discussions with the Nevada state government in the United States.
It is also expanding its application areas. NeuralD conducted a power plant inspection demonstration with Korea Western Power Co. (WP). It verified technology that inspects for cracks in internal facilities and cable anomalies while a vehicle moves at 5–10 kph. Selected for the Ministry of SMEs and Startups' "regional innovation project," it is also developing a road facility inspection solution. It also plans to expand into the defense asset management field. Gwak said, "We will grow into corporations that lead the global infrastructure safety diagnosis market."