SKT and FSS Working Together to Develop AI to Prevent Phone Fraud

SK Telecom (SKT)and the Financial Supervisory Service (FSS) will jointly develop a phone scam prevention system using AI.

SKT and the FSS signed an agreement on developing AI technologies to combat phone scams at SK Telecom’s headquarters on the 17th. At the signing ceremony, SKT AI and Mobility Business Team Chairman, Chung Yoo-seong, and FSS Director, Kim Soo-heon, attended.

According to the FSS, phone phishing is estimated to have $159M USD in damages in the first half of this year. The figure has increased 73.7% from the same period last year. The spike is due in part to an increase in sophisticated methods.

SKT is going to develop AI tech that notifies users of a possible scam in real time for voice calls.

“We are going to work with FSS to eliminate phone scams by utilizing AI. We are going to introduce a variety of technologies and services that can protect consumers and realize social value by using ICT (information & communication technology).”

Jang Yoo-seong, head of SKT’s AI and Mobility Business

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