SK Telecom (017670.KS) will develop a methodology to objectively measure the social value created by AI and ICT technologies.
SKT said it signed a memorandum of understanding (MOU) with Japan's SoftBank and the Center for Social Value Enhancement Studies (CSES) on the 9th at SKT Tower in Euljiro, Seoul, to measure social value and strengthen mutual cooperation. CSES is a nonprofit foundation established by SK Group.
The three parties signed their first MOU in 2024 and have since cooperated in the field of social value measurement. As AI's influence has recently grown, they signed the additional MOU after recognizing the need for a methodology to objectively measure the social benefits companies create through AI technology.
With AI recently being used across industries and its impact expanding, the need has grown for a methodology to objectively measure the social benefits companies create through AI technology, including strengthening the social safety net, digital inclusion, and enhancing customer benefits, leading to the additional MOU. "We will advance our social value measurement model based on the social indicator capabilities and achievements we have built over the past two years," SKT said.
The three parties plan to measure the social value created by each company's AI and ICT products and services, and to jointly develop a standard measurement methodology that can be used in various ways in global markets. They also agreed to cooperate on case studies, joint report publications, and forums to spread social value measurement methodologies in global markets including Korea and Japan.
In the process of refining measurement indicators, each company's business experience, data, and measurement know-how will be utilized. SKT has been measuring the social value created across its corporate activities, including AI and ICT-based services, since 2018. In particular, the company has continued to identify the social value of services that contribute to strengthening the social safety net, such as care for vulnerable groups, disaster response, and crime victim prevention. Since 2021, it has raised the level of its performance disclosures, publicly detailing the measurement formulas for specific indicators. CSES also developed the Double Bottom Line (DBL), SK Group's social value measurement framework.
