​S. Korean web portal giant Naver invests in AI advertising startup

Park Sae-jin Reporter Posted : 2018-05-16 17:12 Updated : 2018-05-16 17:12
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SEOUL -- Naver, South Korea's largest web portal service, invested in Adriel, an artificial intelligence (AI) advertising startup, to expand its business abroad and diversify advertising channels.

Naver said in a statement Wednesday that D2SF, its startup nurturing wing, has invested in Adriel to provide optimized advertising programs for small businesses and amateurs through various channels. Naver did not disclose details such as money involved.

AI has become the key factor in the online advertising industry. By analyzing a user's online history and search keywords, an advertising solution using AI can suggest advertisements which are suited to fit preferences. AI can also offer market forecasts analyzed from advertisement results, helping businesses to look ahead and plan their market strategy.

Google and Amazon operate AI advertising to provide tailored advertisements and attract businesses which wish to promote their products or services. According to Orbis Research, a global digital marketing market research firm, the  "AI in marketing" market will grow to $23.4 billion by 2023, up about 370 percent from this year's $4.9 billion.

According to Naver, Adriel considers expanding its advertising business globally through the actual application of AI in its advertising programs.