SEOUL, South Korea, July 5, 2020 /PRNewswire/ -- Riiid, a member company of the Born2Global Centre, could not be coming to America at a better time, as artificial intelligence transforms the global education landscape in 2020.
Riiid Labs is the global arm of parent company Riiid and has been established in Silicon Valley to build upon Riiid's success in Asia and to expand its business across the U.S., South America, Middle East and beyond. Riiid is a leading AI edtech start-up based in Korea, which successfully launched Santa for Test of English for International Communication (TOEIC) test prep engine in Korea and Japan and reached No. 1 in sales among education apps in the Android market after only five months. Riiid has been an active member company of the Born2Global Centre since 2016.
Riiid's proprietary AI technology analyzes student data and content, predicts scores and user behavior, and recommends personalized study plans in real-time to help students optimize their learning potential. Santa for TOEIC users have improved their score by an average of 124 points after just 20 hours of study. Leveraging the success and proven efficacy of Riiid's AI technology, Riiid Labs will continue to innovate and expand globally across new education verticals and domains.
"Reinforced education using AI is more emphasized now than ever, as the current global pandemic situation dictates we face a new normal," said Riiid CEO YJ Jang. "I'm thrilled to launch Riiid Labs in the U.S. at this appropriate time and confident to see the strength and capability of our U.S. leadership team. We look forward to establishing a significant global footprint and bringing disruptive changes to the global education market."
"Riiid has successfully verified the advancement of our proprietary AI-ed technology and proved its marketability," Jang said. "I'm confident we can continue, and surpass, our own success story while bringing highly efficient learning solutions to everyone and lead in making fundamental changes to the education market."
"We're a leader in AI test prep throughout Asia, giving us a massive advantage in localizing to the cultural needs for the U.S. market," says Rob Barrett, Riiid Labs Chief Innovation Officer. "We're not starting from scratch; we're using our deep AI understanding to address and solve problems to best serve the market with maximum positive impact on students."
Riiid Labs partners with leaders in education to re-imagine the old ways of approaching learners. The company's speciality is preparing students for tests like SAT and ACT with its own proprietary tech. Riiid Labs has hired top-tier talent in the U.S. for both its education and tech sectors.
"AI will make the biggest impact in education," says David Yi, who comes to Riiid Labs as CEO after heading business development in Asia for U.S. standard test provider ACT. "We're talking not just financial impact, but more importantly, life impact for the well-being and future of humanity."
Riiid Labs extends the mission of Riiid, which launched Santa for TOEIC in 2017. It's the world's first commercialized AI tutor solution, based on a deep-learning algorithm garnering more than a million users in Korea alone. It aims to replace textbooks and augment traditional lectures with personalized help from its AI engine.
About Riiid Labs
Riiid Labs (www.riiidlabs.ai), based out of Silicon Valley, is the global arm of parent company Riiid, a leading AI solutions provider delivering creative disruption to the education market through its cutting-edge technology. The company aims to empower global education players to rethink the traditional ways of learning via extending Riiid's AI competency.
With a strong belief in equal opportunity in education, Riiid (www.riiid.co/en/main) launched Santa for TOEIC in 2017, the firm's first commercialized AI tutor solution based on deep-learning algorithm, attracting more than a million users in South Korea. Riiid's AI tutor solution replaces textbooks and traditional lectures with a personalized AI tutor outpacing human tutors at a fraction of the cost. Based on highly scalable and proven AI technology, Riiid is aggressively expanding its business to new test areas and geographical markets. It currently operates Santa for 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.
SOURCE Born2Global Centre