Mongolia's first NATIONAL ARTIFICIAL INTELLIGENCE “Egune AI” reaches a valuation of $38.5 MILLION!

Mongolia has marked another significant milestone in the field of advanced technology, creating new history in the development of national artificial intelligence. “Egune AI,” Mongolia’s first foundation model AI, has been continuously improved since its launch in 2022, and as of 2024, has reached a valuation of 38.5 million USD—making it the highest-valued tech company in Mongolia.

This remarkable achievement is the result of the dedicated efforts of young engineers and IT experts who believed in Mongolia’s digital future and committed to developing AI in their native language. Believing in this vision, Golomt Bank made a proud contribution to Mongolia’s tech revolution by investing $3.5 million in Egune AI.

in 2022, Mongolia announced that with the development of Egune AI, it became the 8th country in the world to independently build a foundational AI model. This major milestone symbolizes a breakthrough in expressing national identity through technology and in creating AI that reflects the unique characteristics of Mongolian culture, language, and thinking.

Egune AI’s core mission is to create a super-intelligent artificial Mongolian being, thereby supporting human development and productivity. Its intelligent assistance aims to enhance access to quality education, healthcare, legal services, and more. Currently, Egune Chat enables users to learn, search for information, and boost productivity in their native language through AI—already achieving successful integrations in various sectors.

For instance, it plays a key role in delivering government policy and project information to the public through platforms like Gov AGENT (https://www.gov.mn/mn) and the 1111 Information Center (https://www.11-11.mn/) by providing AI-operated services that enhance accessibility and improve feedback systems.

Many private companies are now employing AI customer service agent, with 83% of online user interactions currently handled by AI. As a result, employee productivity has increased 3.5 times. Looking ahead, the company aims to develop specialized AI roles such as “AI Teacher,” “AI Doctor,” and “AI Lawyer,” etc AI workers and to launch “EGUNE X” a highly secure personal assistant designed to safeguard individual privacy.

Mongolia’s achievement in developing its own AI solutions is not just a technological breakthrough—it is a source of national pride, demonstrating the country’s ability to produce world-class innovations in artificial intelligence.

Visit: www.chat.egune.com