LG Electronics’ CEO, William Cho, has commenced a crucial business tour across the tech-centric western United States, targeting key advancements in artificial intelligence (AI) and strategic partnerships. During his week-long journey, Cho is set to attend high-level meetings, engage with global investors, and participate in the prestigious MS CEO Summit. These efforts are pivotal to LG’s ambitious strategy to embed AI across its operations.
Driving growth through AI and customer experience innovation
William Cho’s mission is focused on capturing elite AI expertise and fostering transformative business approaches. His visit underscores AI’s emergent role as a cornerstone for innovation in customer experiences. Cho aims to utilize insights from approximately 700 billion hours of customer interactions with LG’s 700 million products globally. This data is expected to propel LG’s AI initiatives, making its products not just consumer goods, but integral service platforms.
At a tech conference in Cupertino on May 11, Cho met with AI experts and researchers to discuss LG’s future in AI development. High-profile LG executives, including Park Hyoung-sei and Eun Seok-hyun, were present, highlighting the interdisciplinary approach LG is taking towards AI integration.
Cho remarked, “In the face of transformative shifts such as electrification, servitisation and digitalisation sweeping across diverse industries, the application of AI, cloud and big data is paving the way for novel approaches and opportunities.” He shared LG’s vision of ‘Affectionate Intelligence’ at CES 2024, emphasizing AI’s role in enhancing customer care and experiences.
Transforming into a ‘Smart Life Solution Company’
The highlight of Cho’s trip is a non-deal roadshow (NDR) on May 13 in San Francisco, where he will showcase LG’s evolution from a leading home appliance brand to a broader ‘Smart Life Solution Company’. This transformation focuses on expanding into B2B sectors like EV components and built-in appliances while enhancing service platforms such as webOS.
Cho plans to demonstrate how LG’s significant consumer touchpointsโspanning homes, vehicles, and commercial spacesโcan be leveraged to advance AI-driven solutions that enrich daily life. “Our aim is to transition these touchpoints into active service platforms, enhancing real-time interactions and service delivery,” Cho stated.
Fostering global collaborations at the MS CEO Summit
Further solidifying his U.S. agenda, Cho will attend the MS CEO Summit in Seattle from May 14-16. This exclusive event gathers CEOs and senior executives to debate future economic and business landscapes. Here, LG seeks to not only share but also expand its AI strategy by engaging with global tech leaders, potentially leading to new collaborative ventures.
LG’s strategy is reinforced by its ‘3B strategy’โBuilding, Borrowing, and Buying capabilitiesโto enhance its AI prowess globally. This strategy, combined with its extensive data and insights, positions LG to explore new business avenues and establish itself as a leader in AI innovation.
