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Samsung is sharpening its focus on 5G chipsets, AI and smart vehicle initiatives
South Korean tech giant Samsung has pledged to invest $22.3 billion (25 trillion Won) into 5G, artificial intelligence (AI) and electronic automotive components, according to a company release. The company will also earmark some of the money to diversify into biopharmaceuticals.
Samsung is to invest in firms that are spearheading the development of 5G and AI which will transform the world’s digital economy. Samsung says that its investment will help to create 20,000 new jobs in the technology sector over the next three years.
"In AI, Samsung plans to significantly expand its research capability, increasing the number of advanced AI researchers to 1,000 across its global AI Centers. It will also invest aggressively to become a global player in the advanced markets for 5G chipsets and related devices and equipment," the company said in a statement to the press.
Samsung also expects to play a leading role in the development of smart transportation initiatives and the development of autonomous vehicles.
"Samsung aims to become a leader in electronics components for future cars such as system-on-chips for autonomous driving, utilising its leadership in semiconductors, telecommunications and display technologies," the statement read.
In total, Samsung intends to invest 180 trillion Won ($160 billion) in capital expenditure and research and development initiatives over the next 3 years, across all the sectors in which it operates.
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