Pan-United inks MOU with South Korea conglomerate for new AI platform

SOUTH Korean ready-mix concrete company, Eugene Corporation, will explore opportunities to adopt Pan-United Corporation's new artificial intelligence (AI) platform.

The mainboard-listed firm said on Monday that its technology subsidiary, AiR Digital Solutions, had entered into a memorandum of understanding with Eugene Corp for the platform named AiR, short for Artificial Intelligence for Ready-Mix Concrete.

The strategic agreement will facilitate information-sharing between Pan-United and Eugene Corp. This will allow the South Korea-listed company to assess the usefulness of AiR to digitalise its end-to-end operations.

The platform uses AI, data analytics, algorithms and sensor technologies to optimise vertical operations along the entire value chain.

It can be plugged into existing operations and applied to every stage of a user company's supply chain, including replenishing raw materials, managing customer orders, deploying capacity at batching plants, facilitating quality-control checks and electronic billing.

Ken Loh, Pan-United's chief operating officer, said the platform has helped the company save 45 per cent in costs since the implementation of the first basic prototype in 2014.

AiR is modular and customisable, with parameters that can be set based on cost versus time, truck assignments, priority customer projects or other factors.

The new offering can be commercialised and offered to other regional and global players, Mr Loh added.

Pan-United is a technology company focusing on concrete and logistics. Its shares ended trading at S$0.35 on Friday, up 0.5 cent or 1.4 per cent.