Riiid presented its vision for AI-powered education at the AI Summit New York 2019

NEW YORK,Dec 17,2019 -- Riiid,a global leading AI tutor solution provider and a member company of the Born2Global Centre,joined the AI Summit New York 2019,which took place from December 11 to 12,2019 at the Jacob Javits Center. Riiid,the only Korean startup at the AI Summit,delivered a keynote speech,presenting the firm's successful footprint,the future direction for research in AI-powered education and the EdTech industry.

The AI Summit,one of the world-leading AI events aimed at business leaders,is held annually in San Francisco and New York,providing a platform where industry leaders gather to discuss the latest developments in AI technology,its applications and the direction for future development.

Youngduck Choi,AI tech lead at Riiid is giving a keynote speech at the AI Summit New York 2019.

Riiid came to the fore as the only startup specializing in AI-enabled education. In particular,through a keynote speech titled 'Make Education Great Again',Riiid attributed the relatively slow pace of developments in AI research and deployment in the education sector to the shortage of high-quality data and low levels of consumer confidence in AI-driven education and underlined that Riiid has been spearheading changes in the goal-oriented test preparation sector by successfully overcoming these hurdles.

Indeed,Riiid continues research efforts to enhance AI functions based on user interactions data collected from more than 1.1 million accumulated users through 'Santa',the firm's first commercialized AI tutor solution. At the same time,Riiid provides convincing substitutes to conventional human-led education such as private institutes and online coursesby demonstrating with proven data how solely AI-powered prediction,content recommendation and motivation stimulation led to improvements in test performance.

Riiid emphasized that 'technological transparency' and 'practical precision' are crucial factors to ensure that AI technologies will be able to further develop and set the tone for the education sector. Youngduck Choi,AI tech lead at Riiid,presented "To spearhead industry-wide growth through technological transparency,Riiid has recently released more than 100 million pieces of users interactions data obtained from Santa as well as the firm's knowledge tracing model based on Transformer,a deep machine learning module,which predicts whether the students will get questions right or wrong in a given exercise." Riiid voiced confidence saying "Although releasing the firm's key assets as open source was a difficult decision to make,we believe it will contribute to overall market growth by building industry-wide trust and stimulating research activities across different aspects in the field."

Moreover,Youngduck Choi presented the firm's direction for AI research in that the fundamental goal of test-preparation should be the achievement of each user's target score in a given time constraint,rather than a general improvement in test scores or level of concept understanding which is rather implicit. He addressed that reinforcement learning algorithm maximizes the probability of individual users achieving target at test time. The presentation received a warm response from the audience.

"I knew Korea is very competitive in the test preparation sector. Still,it is amazing to see how advanced it is in AI convergence research and commercialization in the field," said an attendee working for a US government-sponsored financial institution. "I am planning to take GMAT in the near future. If GMAT prep solutions are available,I want to give them a try."

Meanwhile,in its fourth year,the AI Summit New York brought together global tech giants such as Google,Microsoft,Facebook,and IBM and leading companies from different industries such as PayPal,JP Morgan Chase,PepsiCo,ExxonMobil,MasterCard,and Walmart to share their experiences in AI deployment.

For more detailed information on Riiid,visit https://riiid.co/en/main.

Media Contact

Riiid

Chee Lee,Communications Director

cheehyun.lee@riiid.co

Born2Global Centre

Jina Lee,PR Manager

jlee@born2global.com

About Riiid!

Established in 2014,Riiid (https://riiid.co/en/main)is a global leading AI Tutor solution provider delivering creative disruption to the education market through its cutting-edge AI technology.Driving the democratization and equalization of educational opportunities,the company launched Santa for TOEIC in 2017,the firm's first commercialized AI Tutor solution based on deep learning algorithm,which has attracted over one million users in South Korea alone. Riiid's AI Tutor Solution aims at replacing hard copy textbooks and traditional lectures with a personalized AI tutor that far outpaces human tutors in learning efficacy at a fraction of the cost. Based on its highly scalable and proven AI technology,Riiid is aggressively expanding its business to new test areas as well as into new geographical markets. It currently operates Santa TOEIC in Korea and Japan; and has launched Santa SAT in Vietnam.

About Born2Global Centre

Born2Global Centre (www.born2global.com) is a full-cycle service platform for global expansion. Since inception in 2013,Born2Global has been setting the standard for successful startup ecosystem as the main Korean government agency under the Ministry of Science and ICT. Born2Global has expanded and transformed startups to be engaged,equipped and be connected with the global market.

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