Samsung Commits $22 billion to AI and 5G

Tim Baxter, president and chief executive officer of Samsung Electronics America Inc., speaks during the company's press conference at the 2018 Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S., on Monday, Jan. 8, 2018. Electric and driverless cars will remain a big part of this year's CES, as makers of high-tech cameras, batteries, and AI software vie to climb into automakers' dashboards. Photographer: David Paul Morris/Bloomberg via Getty Images

Yes, don’t be surprised to see AI and 5G products from Samsung in the near future!

Thanks to the success of its smartphones, TVs, appliance and especially chips, Samsung is sitting on a large pile of cash. The company just announced that it will spend a lot of that to develop artificial intelligence, biopharmaceuticals, 5G wireless systems and other futuristic tech. The aim is to become more diversified and less dependent on declining smartphone and electronics markets. In total, Samsung will spend 25 trillion won ($22 billion) over the next three years, as part of an overall 180 trillion won ($160 billion) plan.

Samsung will spend the money over the next three years, mainly in Korea, and hire 40,000 new employees, double what it promised before. In AI alone, for example, it plans to crew 1,000 new research positions. Samsung has said before that it will put AI smarts in all its devices (not just smartphones) by 2020. (Given that Bixby is still half-baked compared to other AI systems, it has some work to do.)

Source: Samsung via Engadget

 

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