Samsung to spend $A30 billion on AI

Samsung says it will invest about $A30 billion over the next three years in growth areas such as artificial intelligence.

Samsung and its affiliated companies plan to spend $US22 billion ($A30 billion) over the next three years on artificial intelligence, auto components and other future businesses.

Samsung said it will spend the sum to hire AI researchers to be a global player in next generation telecoms technology and to boost its presence in electronics components for future cars.

To expand its AI capability, Samsung will be increasing the number of researchers to 1000 across its global AI centres in the UK, Canada, Russia, US and South Korea.

South Korea relies heavily on Samsung and its affiliated companies for investment and jobs, even after a corruption scandal that resulted in the bribery prosecution of the conglomerate's leader, Lee Jae-yong.

Lee was freed after nearly a year in jail.

The company's investment announcement came two days after the finance minister visited a Samsung computer chip factory, where he touted Samsung's importance in Asia's fourth-largest economy.


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Published 8 August 2018 4:58pm
Source: AAP


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