The era of artificial intelligence (AI) is an opportunity for South Korea, an information and communications technology (ICT) powerhouse, according to Former Prime Minister Chung Un-chan.

“As a leading nation in ICT, Korea can become a first mover in the AI era,” Chung said during his keynote speech at the World Knowledge Forum (WKF) Busan hosted by Maekyung Media Group on Tuesday.

The forum was held under the title, “AI for ALL: What to Expect in the Near Next?”

“Korea has sufficient competitiveness, including world-class ICT infrastructure, excellent human resources, a strong manufacturing base, and an innovative startup ecosystem,” Chung said.

In his keynote speech titled “On the Threshold of a Future Society: Artificial Intelligence,” Chung noted that “Korea is well positioned to capitalize on its strengths to apply AI technology to real-world industries and create new value.”

He also said that “Korea ranked first among 141 countries in the 2020 Global Competitiveness Report by the World Economic Forum.”

However, Chung cautioned against excessive optimism, noting that the United States and China are far ahead in the number of AI research papers.

He urged that the government, businesses, and academia must join forces to overcome these challenges.

Chung also pointed out the ethical challenges posed by AI, such as its military applications.

“We must build a better future through the three visions of human-centered AI, inclusive AI, and responsible AI,” Chung said.

Maeil Business Newspaper Chief Executive Officer Son Hyun-duck also noted in his opening remarks that Busan served as the temporary capital for 123 days during the Korean War and planted the seeds of Korea’s new economic miracle in the midst of the war’s chaos.

“Busan is where Samsung Group founder Lee Byung-chull restarted his business with prosthetics and where LG Group founder Koo In-hwoi laid the foundation for his company with a cosmetics business,” Son said.

He expressed hopes that the forum would serve as another opportunity to open the future of Busan.

The forum discussed various strategies for AI infrastructure development by local governments.

Busan Mayor Park Heong-joon highlighted in his congratulatory remarks that Busan is focusing on using AI in various areas such as transportation, environment, and safety to create an efficient city.