The purpose of this program was to enhance their understanding of artificial intelligence and new steel products in order to improve the competitiveness of overseas subsidiaries by spreading POSCO Smart Solutions.

At first, in the lecture about ‘Smart Technology and Business Model Innovation,’ they learned about the influence of smart technologies, such as the 4th Industrial Revolution, big data and artificial intelligence, on business models, and in the lecture about ‘Big Data and Cases that Can Be Utilized in Manufacturing,’ they reinforced their understanding of big data modeling.

Also, they learned about Smart POSCO, such as the concept of POSCO Smart Solutions, key activities, CES 2018 and smart factory success stories, creating an opportunity to spread it to overseas subsidiaries.

In addition, they gained knowledge of new steel products such as POSCO Magnesium Alloy Coating Product (PosMAC), thick plate product (high manganese steel), automotive steel (giga steel) and electrical steel (Hyper NO), and shared relevant cases to expand solution marketing in overseas markets.

POSCO ICT Head of the New Business Development Team Mi-hwa Park during POSCO Smart Solution and CES 2018 at Songdo Convention Center.

The participants said, “The brief, but well-organized program was quite useful in that we were able to gain a deep understanding of the trends in information technology, POSCO Smart Solutions and our new products, and learn how to apply them to overseas subsidiaries. We will make efforts to spread POSCO Smart Solutions throughout our overseas subsidiaries.”

Meanwhile, POSCO Group University is planning to provide education on Industrial Revolution 4.0 and POSCO Smart Solutions for new local leaders and general managers to disseminate the necessity of Smartization.

CEO Kwon explores CES 2018

As such, CEO Kwon made his first official visit to the 2018 Consumer Electronics Show (CES) in Las Vegas earlier this month to stay on top of the latest trends in connectivity and smart solutions that can be applied to the manufacturing process in smart factories.

SEE ALSO: POSCO CEO Ohjoon Kwon Visits CES 2018

Ultimately, a smart factory for POSCO would entail using smart sensors to pick up data, smart analysis through AI and automated production processes. Moreover, the smart factory would store and analyze its big data and apply it to make future improvements and prevent malfunctions. Aligned with many of POSCO’s business growth engines, major topics and themes at CES 2018 included smart homes, smart cities, autonomous cars and AI, and more than 3,900 companies put forth their best innovations.

Smart Connectivity

As more and more cities undergo smart transformations, the next big trend will be data collection and analysis through 5G connectivity. It was no surprise to see numerous innovations in smart transportation, smart grid, public safety, healthcare, data analytics and more at CES 2018. Moreover, city officials from early-adapting cities such as Kansas City, Miami and Las Vegas took to the stage to discuss their cities’ smartization plans. Some of the topics discussed included using GIS mapping software, smart construction, inclusive technology and autonomous transportation to enhance citizens’ productivity, efficiency, safety and well-being.

CES 2018 was a platform for smart city discussion. (Source: Bosch)

CEO Kwon visited related booths to learn about new technologies POSCO could apply to its businesses. Currently, POSCO’s smart factories are run by POSCO ICT’s smart platform called PosFrame, which allows the factory to apply a digital genome map to operations via data collection, instantly convert smart factory initiatives in domains, act as a common platform for new technologies and apply the same, standardize smart factory model to other facilities through reusable software.

Also at this year’s CES, POSCO ICT signed an MOU with DPR Construction, a leading smart construction company to apply PosFrame to construction sites for more efficient, cost-effective and smarter construction processes.

Smart Transportation

Another major theme at this year’s CES was mobility. Namely, autonomous and electric mobility. Companies from all across the board from traditional car manufacturers and software companies to gaming companies lined up to showcase their new innovations.

Even as the market for sustainable EVs and autonomous EVs look to expand in 2018 and beyond, EVs only make up about 1 percent of the global fleet of cars and there’s still a ways to go before EVs become the norm. Drivers need to feel safe in their EVs or autonomous EVs, want greater range on a single charge and need to see more charging infrastructure in their communities before making the switch.

SEE ALSO: Ask an Expert: Electric Vehicles and the Future of the Automotive Market

What’s more is that just because a vehicle runs on electric batteries, it doesn’t automatically mean the vehicle is eco-friendly or transmits less harmful emissions. Manufacturers and consumers alike have to take a lifecycle approach to assess the car’s impact on the environment from production to end of life recycling.

POSCO works with numerous partners to develop leading solutions for electric vehicles.

That’s why POSCO is working with automakers to come up with vital solutions in the auto industry for a greener future. It supplies partners with an advanced high-strength steel (AHSS) called POSCO GIGA STEEL that is both lightweight and super strong, allowing cars to travel with less energy without compromising passenger safety.

POSCO is also a lithium provider and has developed an innovative technology to speed up the extraction process, saving time, costs and damage to the environment. It also works with car makers to apply premium electric steel to partners’ electric motors to increase efficiency and cut costs.

With so many exciting new innovations and technologies surrounding EVs, POSCO will undoubtedly play a significant role in ensuring automakers have the tools they need to realize a green future.  POSCO will work to stay ahead of newly emerging technologies to enhance the efficiency, sustainability and performance of all of its solutions.

Since last February, CEO Kwon has visited Siemens, GE and other businesses in Silicon Valley to explore new technologies and expand POSCO Group’s smartization plan. At CES 2018, CEO Kwon saw first-hand the latest smart technologies and plans to implement them to all of POSCO’s core businesses including steel, construction, IT and energy. He also met officials from leading smart companies such as GE and DPR Construction, and examined possibilities for cooperation over commercializing POSCO’s smart solutions.

POSCO Kwon met Heilmann Matthias, President and CEO of Digital Solutions at Baker Hughes General Electric (BHGE). Matthias oversees the digital solution business of GE Group, and the two discussed the development of PosFrame, POSCO’s proprietary smart platform, its compatibility with Predix, GE’s smart platform, as well as the possibility for joint commercialization.

In particular, POSCO ICT is planning to sign an MOU with DPR Construction, the world leader in Smart Construction, to collaborate on smart projects and find opportunities to apply new ICT technologies to construction. Through this MOU, the two companies will cooperate on projects such as constructing and operating highly-efficient, low-cost data centers and smart factories controlled by PosFrame.

CEO Kwon also visited the automobiles, home appliances, smart city and smart home exhibition booths. He examined the latest tech trends of IT utilization in steel-consuming industries to develop compatible materials and steel solutions.

He also made sure to explore electric vehicle (EV) batteries and new IT technologies surrounding EVs, as lithium materials are the new growth engine of the company. CEO Kwon also evaluated the possibility of securing new markets for the group’s construction business at home and abroad.

POSCO Group plans to continue searching for new, innovative solutions to apply to its smartization efforts and actively develop domestic and overseas data centers and smart factory markets.

Cover photo courtesy of BGR.