[THE INVESTOR] Kakao said on July 24 that it has teamed up with Hyundai Motor and Kia Motors to develop artificial intelligence technology.

Under the agreement, the automakers will implement server-based speech recognition technology into the Genesis G70 model by utilizing its AI platform, called Kakao I, starting in September.

The server-based speech recognition technology is the first service to incorporate Kakao I by allowing drivers to search for destinations, such as restaurants through voice recognition, corporate sources said.

Kakao is one of the many global internet giants like Google, Amazon and IBM that are trying to acquire core AI technologies, such as machine learning, automatic translation, self-driving cars and smart robotics.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)