Xiaomi sets its sights on 5G, AI, and IoT with £5.3 billion investment plan
The new year sees increasing competition in all areas of the telecoms industry, not least in the realm of cutting edge technology. Many are predicting that the use of AI and IoT technologies will revolutionise the industry in the coming decade and Xiaomi Corp, it seems, would agree with that assessment.
The company’s pledge to invest 50 billion yuan (£5.3 billion) in AI, IoT and 5G tech over the next five years sees them quintuple last year’s pledge of 10 billion yuan as part of an ‘All in AIoT’ strategy.
AIoT, or the Artificial Intelligence of Things, is an acronym that perfectly encapsulates the way in which industry leaders are thinking about AI and IoT in the coming decade: not as independent technologies but as a synchronised system, akin to a nervous system and a brain, set to bring about the Industry 4.0 revolution.
“We need to turn our continuous advantage we have in AIoT and intelligent life into absolute victory in intelligent full scene, and completely cement our king status in the smart era,” said Xiaomi chief executive Lei Jun.
Xiaomi is not alone in investing heavily in next generation technology. Domestic competitor Huawei opened a dedicated IoT consumer lab at the end of 2018 and is continuing to commit resources to the development of this industry-changing technology.
Whichever of these Chinese giants can utilise these emerging technologies best will have a significant advantage in the coming decade, both at home and abroad.
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