TwelveLabs, the leading video search and understanding company, announced it has signed of a Memorandum of Understanding (MOU) with LG CNS, a top-tier IT services and AI transformation (AX) company based in South Korea. This strategic partnership aims to jointly advance video analysis technologies and explore new business opportunities across various industries.
Under the agreement, the two companies will integrate TwelveLabs’ state-of-the-art video foundation models with LG CNS’s deep expertise in customized AX solutions. Together, they will co-develop and deliver innovative video AI services targeting sectors such as media & entertainment, broadcasting, public safety, legal & investigative services, and beyond.
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“This partnership with LG CNS empowers our video understanding AI to create real value across critical industries,” said Jae Lee, CEO of TwelveLabs. “Together, we will maximize the value of video data and lay the foundation for Korea to emerge as a top-three global powerhouse in AI.”
The partnership links two leaders defining the AI landscape. TwelveLabs is recognized for its frontier multimodal neural network technology. It will be the first video model provider to be featured on Amazon Bedrock, offering its flagship models, Marengo and Pegasus, to global customers.
LG CNS has been at the forefront of AI transformation in the financial sector, powering enterprise-level innovation for major institutions such as NH Nonghyup Bank, Shinhan Bank, Shinhan Card, Mirae Asset Life Insurance, Mirae Asset Securities, and Woori Bank. The company has recently expanded its AX leadership into the public sector, securing projects with the Ministry of Foreign Affairs, Gyeonggi Provincial Office of Education, and the Korean National Police Agency, while also branching into manufacturing and logistics.
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Innovation to Deliver Market Solutions
The partnership will focus on two main pillars: technological collaboration and business co-development. On the R&D front, TwelveLabs and LG CNS will work to enhance the performance and capabilities of TwelveLabs’ Video Foundation Models (VFMs). Simultaneously, the companies will co-design customer-facing services to unlock business value across various use cases.
For example, in media and broadcasting, the collaboration will enable:
- Automatic summarization and highlight generation for news, sports, and TV shows
- Keyword and scenario-based search across large-scale video archives
- Contextual advertising based on real-time content consumption
In the public safety and investigative sectors, the partnership will support:
- Automated detection of specific events in CCTV footage
- Summarization of body cam and dash cam footage
- Scene search for incident-related content
“This partnership with LG CNS empowers our video understanding AI to create real value across critical industries,” said Jae Lee, CEO of TwelveLabs. “Together, we will maximize the value of video data and lay the foundation for Korea to emerge as a top-three global powerhouse in AI.”
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Source – PRWeb
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