In spite of being a relatively new solution in technology, artificial intelligence has found its place in various businesses. From eCommerce, retail, all the way to customer service and advertising, AI is helping in developing valuable solutions for many companies.  

Driven by knowledge-based systems which are feeding themselves on input data, it also helps manufacturing businesses develop more sustainable working models, while at the same time increasing productivity and quality of the delivered products.

Posco Chemical Company announced it planned to build a plant in South Korea this year to produce precursor materials for electric vehicle (EV) batteries, as demand for zero emission vehicles continues to grow.

The company, a subsidiary of South Korea Posco Group, one of the world’s leading automotive steel manufacturers, said it planned to spend KRW600bn (US$487m) to build a facility in the southern port of Gwangyang with an annual production capacity of 100,000 tons per year, enough for 1.2m EVs.

The impacts of the war in Ukraine have been immediate and severe for the economies of Ukraine and Russia. The latter has been hit hard by Western sanctions that have effectively halted automotive foreign OEM branded operations (Renault-controlled AvtoVAZ is effectively a domestic player) indefinitely, in terms of both local manufacturing operations and imported parts or finished vehicles. Any meaningful resumption of automotive operations in Russia will be dependent on what happens in the geopolitical sphere.