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Hyundai Vice President Kim Hye-young, center, speaks during the 2022 Bloomberg New Economy Forum in Singapore on Nov. 17. Photo courtesy of Hyundai Motor

Korean automaker speaks out at Bloomberg New Economy Forum

Hyundai Motor announced on Nov. 17 that it had presented its vision to accelerate the new economy through smart mobility solutions, such as its Smart City concept and advances in robotics and AI, at the 2022 Bloomberg New Economy Forum this week.

Established in 2018, with Hyundai as one of its founding partners, the forum brings together more than 500 of the world’s most influential CEOs, leaders, visionaries, scientists, entrepreneurs, and policymakers.

Hosted by Michael R. Bloomberg, the fifth annual forum’s theme was “Lighting a path through the storm.”

For its part in the event, Hyundai said that it had chosen the theme “Hyundai accelerates the new economy through its smart mobility solutions,” encapsulating its unique strengths as a smart mobility and logistics solutions provider for Smart Cities and a pioneer of robotics and artificial intelligence technologies.

At the partner session, Kim demonstrated how the Group’s Smart City solutions benefit both mobility and logistics. The Group defines mobility as the movement of people using technologies such as purpose-built vehicles (PBVs), autonomous shuttles, and car-hailing, along with urban air mobility (UAM) and individualized micro-mobility.

Hyundai Vice President Kim Hye-young said that the Seoul-based carmaker would see smart cities as the future of urban development.

“Moving people and goods have always been at the center of innovation and prosperity in cities,” Kim said.

“The Group aims to provide social and economic benefits to Smart City citizens by enhancing the residents’ quality of life, reducing congestion and pollution, and improving efficiency through innovation of its smart mobility and logistics solutions.” 

The Hyundai-backed AI Institute’s Executive Director, Marc Raibert, participated in a roundtable session at the forum, examining the benefits that future generations of advanced intelligent robots can potentially offer humankind.

Raibert elaborated on the Group’s ambitions to create robots with cognitive and athletic intelligence, allowing for greater situational awareness, perception, and reasoning, as well as the ability to harness those traits to understand and plan their own behavior. 

“Robots already have some impressive physical skills, but they remain limited in their ability to process what is going on around them, interpret the actions of others, and use that understanding to plan their own behavior,” Raibert said.

“Developing the perception, situational understanding, reasoning, and other cognitive functions underpinning these abilities is critical to achieving the true potential of robotics and other types of intelligent machines. Once they have those abilities, in addition to even more advanced physical skills, they will start freeing humans from dangerous and strenuous work, increase productivity, and help people live better lives.”

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The publisher studied Korean history in Seoul and management of business administration in the United Kingdom. He has 20-year experiences in the media business. Kim can be reached at voc200@gmail.com or 82-2-6956-6698.