Chey Tae-won, Chairman of Korea Chamber of Commerce and Industry: "AI should be used as a tool to lower social costs"

As AI technology develops rapidly, suggestions have emerged that AI should be utilized as a tool to solve complex social problems and lower social costs, rather than being a simple means of job replacement.

The Korea Chamber of Commerce and Industry held the '3rd Korea Social Value Festa' on the 23rd. On this day, Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry, emphasized the importance of connection between entities to solve social problems through his opening remarks, presenting new growth possibilities where AI technology and social value combine.

"AI will become a powerful problem solver that lowers social costs"

Chey presented an active perspective regarding concerns about AI technology. According to the video, Chey said, "There are worries that AI will replace jobs and create social problems, but we need to be more proactive in solving social problems." In particular, he diagnosed the essence of the economic growth problem facing South Korea as the 'increase in social costs.'

Chey explained, "Rather than the problem of economic growth, the bigger problem is that the social costs we are using continue to increase," adding, "The method of just making money and paying a lot of taxes is not enough. It is necessary to directly solve social problems and lower the costs themselves." He emphasized that AI can be a powerful problem solver in addressing complex social issues such as aging, caregiving, and climate change.

The logic is that AI can supplement the difficulty of identifying the core of problems due to the complexity inherent in social issues. Chey said, "When you go into social problems, they are too complex and there are many phenomena to calculate," and "Finding how social problems are formed and which problems should be handled first through AI is the fastest way to deploy AI into social problems."

"Need for reward and investment structures based on performance measurement"

It was also mentioned that 'purpose' and 'reward systems' are as important as the utilization of technology. Chey stated, "Rather than how much or how AI is used, it is important what purpose it will be used for," and "A structure is needed where the extent to which social problems are solved is measured, and appropriate rewards and investments follow that performance."

It is pointed out that a method relying solely on good intentions has limits in solving rapidly increasing social problems. Chey emphasized, "If there is no reward for those who work hard, there are limits to solving social problems," and "The social system must be changed so that AI and the social system work in tandem."

To support this, the 'SPC' case, which the Korea Chamber of Commerce and Industry has been conducting for the past 10 years, was mentioned. Chey explained, "About 470 companies created 540 billion won in social performance, and the sales of the companies that received rewards grew by about 35%." The explanation is that by measuring performance, companies can recognize their social contribution, establishing a virtuous cycle structure where this leads to economic rewards.

"Building a virtuous cycle ecosystem where solving social problems becomes an economic benefit"

Chey presented a vision of a 'virtuous cycle economy' where solving social problems is not separated from the economic activities of companies. He said, "If it becomes a system where rewards follow even if social problems are solved, solving social problems becomes an economic task," and "We need a new concept of making money where one receives rewards proportional to creating a lot of social performance or reducing the destruction of social value."

The outlook is that once such a system is established, a virtuous cycle ecosystem will be built that returns a better life to the people. Chey added, "Our new growth lies at the point where AI and social value meet," and expressed hope that this Festa would serve as an opportunity to lead to actual solutions beyond just thinking about social value.