SK Telecom is to invest $3 Million in Twelve Labs, a video understanding company gaining major attention in the global AI industry.

The three year-old San Francisco-based startup develops multimodal video foundation models that can understand video content like humans do. 

For instance if you input your written description of a scene from a movie the Twelve Labs tech can identify the movie and find the scene.

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Twelve Labs’ proprietary multimodal foundation models, Marengo and Pegasus, bring human-like understanding to videos, enabling precise semantic search, summarisation, analysis, Q&A, and more.

Both companies agreed to join forces in developing and advancing technologies for implementing multimodal AI in security and public safety applications, such as AI surveillance systems.

Unlike traditional surveillance systems where a single operator had to monitor numerous CCTV feeds for long hours, Twelve Labs’ multimodal AI model allows for quick searching and summarising of key incidents, movements, and individuals from any given day.

Multimodal AI technology enables better understanding of users when deployed in customer service.

“Through the partnership with SKT, we’re looking forward to providing our video foundation models to various industry use cases and provide real value in daily workflows in the ecosystem,” says Jae Lee, CEO of Twelve Labs.