Prof. Jin-Woo Shin, Prof. Dong-Su Han's group's Quang Nguyen Ngoc, Jee-hoon Tak, Byuck-Chan Lee participated in the modeling technology of used cars using deep learning technique developed by KB Capital and reported to domestic media including Money Today.
This system utilizes deep running to derive used car quotes. Using the developed deep-learning model, AI learns about hundreds of thousands of vehicles, and rates an accurate used car in consideration of about 50 factors that influence the price of the vehicle (sales time, mileage, fuel economy, vehicle type, etc.). Accurate quotes are derived through processes that reflect what is often considered a careful consideration in the used car market, such as time of sale, mileage, fuel economy, and type of vehicle. KB Capital will be able to provide the accurate used car quotes to customers through KB Chachacha site in real time by using the developed deep running model on the deep running server using the latest GPU and estimating residual value that reflects the vehicle specific price.
This research is an accomplishment of KB-KAIST financial AI research center (center director: professor Dae-Sik Kim) project to upgrade used car market data provided to KB Chachacha used cars site. The used car model based on AI model developed by KAIST will be provided through the KB Chachacha Site.