News: Samsung to invest $22 billion in AI and other new technologies

#Jobs

Samsung to invest $22 billion in AI and other new technologies

Overall, the conglomerate is seeking to invest a total of $161 billion over the next three years which also includes job creation.
Samsung to invest $22 billion in AI and other new technologies

South Korea's largest conglomerate, Samsung Group intends to invest about $22 billion over the next three years into new growth areas. 

The investments would be made in four key areas: Artificial Intelligence (AI), Fifth-Generation mobile network technology, electronic components for future cars and biopharmaceuticals.

To expand its AI capabilities, the company is poised to increase the number of researchers to 1,000 across its global AI centers in the U.K., Canada, Russia, U.S. and South Korea.

Overall, the conglomerate reported in media that it plans to invest a total of $161 billion over the next three years. Apart from technological advancements, the investment will also include capital expenditures as well as research and development in its semiconductors and displays businesses. Samsung mentioned in media that the company expects to create about 40,000  jobs over the next three years, as a part of this investment.

Greg Roh, an analyst at Hyundai Motor Securities, shared in media that“The total investment size is not surprising. But Samsung can be more active in M&As to do better at AI or 5G when Lee is fully back to his business."

Topics: Jobs, Technology

Did you find this story helpful?

Author

QUICK POLL

Do you think India Inc. has been successful in empowering its women workforce?

On News Stands Now
q_auto,f_auto/v1549881574/mag-february-2019.png

Subscribe now to the All New People Matters in both Print and Digital for 3 years.

The Fourth Industrial Revolution is ushering in cyber-physical systems involving entirely new capabilities for people and machines. Jobs are changing and new jobs are emerging that we couldn’t have imagined just a few years ago. Workflows are changing. New skills are emerging, and old ones are being cast aside. But are we really ready for this new world order?

Subscribe
And Save 59%

Subscribe now