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Samsung pumps a cool $22 billion into AI, 5G and connected cars

SamsungSamsung may well be most generally known amongst casual tech fans and smartphone consumers as a mobile and smartphone brand, although that’s all set to change in the future if the Korean giant’s latest news is anything to go by.

This week, Samsung has announced that it intends to invest a cool twenty-two BILLION dollars into new tech innovations over the next three years, with the focus squarely on Artificial Intelligence (AI), next generation mobile networking and connection technologies (5G), bio-pharmaceuticals and connected, self-driving automobiles.

As part of this immense new investment in innovation, Samsung has also said that it intends to hire around 1,000 AI researchers over the next three years.

Samsung wants to lead the future

And according to a report from CNBC the $22 billion is a mere tiny proportion of a considerably bigger $161 billion budget that Samsung is investing towards component research and capital expenditures.

Samsung wants to be at the forefront of the latest innovations in connected, future cars, AI and 5G mobile capabilities, with the Korean tech leader looking to create 40,000 jobs over the next three years, with a thousand of those jobs specifically earmarked for AI researchers around the world.

The announcements follow Samsung’s its earnings report last week.

The injection of Samsung’s $22 is notably more (6% greater) than the investment made by the South Korean conglomerate over the past three years, according to Reuters.

Finally, a proportion of the innovation budget will bolster Samsung’s biopharmaceutical wing, news that sent shares in Samsung BioLogics up 5%.

 

 

Via The Verge and CNBC

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