Paris Croissant Starts Industry–University Cooperation Study Project for AI and Big Data with Sogang University

Paris Croissant Starts Industry–University Cooperation Study Project for AI and Big Data with Sogang University

Paris Croissant, an affiliate of SPC Group that operates Paris Baguette, announced on the 7th that it had entered into an MOU (memorandum of understanding) for an industry-university cooperation project to study AI (artificial intelligence) with Sogang University in its effort for digital transformation.

Through the MOU, Paris Croissant will cooperate with Sogang University to develop an AI-based demand prediction model designed for the food franchise business and to promote a number of other projects using the advanced ICT.

First, Paris Croissant plans to introduce an AI machine learning-based sales demand prediction system targeting the 16 Paris Baguette stores under direct management and certain franchisees. With the AI machine learning-based sales demand prediction system, AI analyzes sales patterns and estimates sales quantities based on a range of data including not only the past sales data, but also the date indices (public holidays, days of week, months), weather indices (temperature, humidity, precipitation, and particulate matter level, etc.), data on floating population near stores, promotional events, and store areas.

Paris Croissant will also perform cooperative activities in various other fields, such as joint R&D efforts and information exchange for AI through industry-university cooperation, education programs and seminars along with internship, field experience, and employment support programs for Sogang University students.

The agreement signing ceremony was held on the 6th at the Sogang University President Office with the attendance of key figures from both parties including Paris Croissant CEO Hwang Jae-bok and Sogang University President Sim Jong-hyeok.

“We are pleased to work with Sogang University that is accelerating its digital transformation efforts through in-depth studies on information technologies,” said Paris Croissant CEO Hwang Jae-bok. He added, “Through the industry-university cooperation project, we will actively introduce operating systems using big data and AI in order to improve customer convenience and operating efficiency of our franchisees.”

Sogang University President Sim Jong-hyeok said, “Sogang University opened its professional graduate school for AI this year. We not only support all undergraduate students to take the AI-related classes but also are preemptively introducing the ‘X + AI’ program to study the application of AI analysis techniques to all academic fields. As we are strengthening AI study capacity, our cooperation with Paris Croissant is expected to be more constructive.”