Understandings of the AI business ecosystem in South Korea: AI startups’ perspective

Abstract

Numerous startups are leveraging Artificial Intelligence (AI) technology to create innovative solutions across a wide range of sectors, positioning themselves as central figures in the AI business ecosystem. Particularly notable is the marked increase in the initiation and investment in AI startups within South Korea. To delve deeper into the AI business ecosystem, this study examines its collective understanding from the viewpoint of AI startups in South Korea. We carried out semi-structured interviews with 16 CEOs and managers of AI startups in the country. This study utilizes a core-periphery analysis of the social representation of the AI business ecosystem. In doing so, it addresses an existing knowledge gap and augments the current body of research pertaining to the AI business ecosystem and the present-day opportunities and challenges it confronts. Our findings serve not only to advise practitioners, governments, and businesses but also underscore the importance of ongoing dialogue among government agencies, leading tech companies, and AI startups to foster a more sustainable AI business ecosystem.