Samsung to invest billions in artificial intelligence and 5G

Samsung to invest billions in artificial intelligence and 5G

Samsung Group said Wednesday that it planned to spend $22 billion to pursue new technology in areas like 5G mobile technology and artificial intelligence.

The investments will be focused on artificial intelligence, 5G network technology, electric components for cars of the future, and biopharmaceuticals.

AI is set for a particularly high investment, with Samsung set to expand the number of researchers in its various research centres across the world to over 1,000.

Want to know more about 5G? (Nasdaq: QCOM). Under its latest plans, it is to channel more spending into its manufacturing hubs, including its facility in Pyeontaek, and increase investments in the production of memory chips, non-memory equipment and advanced manufacturing equipment. 5G is the next frontier in wireless communication, and while widespread deployment is still years away, the groundwork is already being laid.

Samsung Group, South Korea's biggest family-controlled conglomerate, said Wednesday that it will invest 180 trillion won (about 160 billion US dollars) and hire 40,000 more employees for the next three years. Samsung has its tentacles in several different market segments, which has allowed it to weather dips in demand in certain categories, like smartphones.

Samsung said it will also bolster its mainstay chip business, which is already the major source of profit for the company.

Samsung added that 4 trillion won will be spent on seeking shared growth with subcontractors.

Samsung, which earlier acquired USA automotive electronics firm Harman International Industries Inc., has been making various progress in this field.

The scion of the founding family, Lee was jailed a year ago for his part in the graft scandal that brought down former president Park Geun-hye.

Nearly three quarters of the investment will be made directly into South Korean businesses, and will create an estimated 40,000 jobs in the country.

The firm expects to create 40,000 new jobs over the next three years while the investment in Korea is expected to help induce approximately 700,000 jobs in related industries and businesses.

Related News:

  • Deflated football found in Steelers-Eagles game

    Deflated football found in Steelers-Eagles game

    According to Howard Eskin of WIP , the Pittsburgh Steelers were discovered to be in possession of an underinflated football in their preseason opener at Philadelphia.
    Torchlight Frontiers Bringing More Dungeon Crawling To Xbox One

    Torchlight Frontiers Bringing More Dungeon Crawling To Xbox One

    You'll visit ancient ruins, lost civilisations, and cavernous dungeons-doing battle with risky creatures along the way. It's nice to see the franchise make a return, honestly. "We know, for example, we won't have an auction house".

    Tottenham Hotspur in talks with Schalke 04 over Danny Rose loan

    Despite this, a further report claims Rose is holding out for a move to Paris Saint-Germain. As a result of this, he's been linked with transfers to two European clubs.
  • Nasa poised to launch its first sun-skimming spaceship

    Nasa poised to launch its first sun-skimming spaceship

    Unlike a campfire, which feels hottest at the source, the heat from the Sun gets more intense further away from its surface. The success of the mission was fully investigated for the Spacecraft at Cape Canverell Air Force Station on July 30.
    People in Germany May Start Seeing Nazi Imagery in Some Video Games

    People in Germany May Start Seeing Nazi Imagery in Some Video Games

    Secker said the general ban on symbols of unconstitutional organizations nonetheless remained in place. This has been the case for other forms of media, such as film, for years now.
    Apple answers Congress' questions on customer privacy

    Apple answers Congress' questions on customer privacy

    In a response Tuesday, Apple reiterated that it collects as little data as possible as a practice. That reflects what Apple has said in its privacy policies.
  • Nintendo Switch Online service coming in the second half of September

    Nintendo Switch Online service coming in the second half of September

    Nintendo just took to Twitter to reveal that their paid online service for Nintendo Switch will launch in late September. If you haven't heard already, the Switch Online price is going to be significantly less than Xbox Live Gold or PS Plus.
    Ebola kills nine in DR Congo

    Ebola kills nine in DR Congo

    Nearly 1,000 people who have had "contact" with the virus have been registered in health zones under surveillance, it said. There is no specific treatment, and the virus can be fatal in up to 90 percent of cases, depending on the strain.
    Harry Potter marathon coming to Jacksonville theater for 20th anniversary

    Harry Potter marathon coming to Jacksonville theater for 20th anniversary

    Between physical copies, digital downloads, and frequent airings on TV, it's easy for fans to watch and rewatch the Harry Potter films.
  • WONDER WOMAN Joins RALPH BREAKS THE INTERNET ... Sort Of

    WONDER WOMAN Joins RALPH BREAKS THE INTERNET ... Sort Of

    Shank, a tough-as-nails street racer, takes her role and her tricked-out auto very seriously and doesn't like to lose. She'll play a tough and talented driver in an intense and gritty online racing game called " Slaughter Race ".

    Men: Dark Phoenix Reshoots to Run Two and a Half Weeks

    Similarly, McAvoy and Chastain are shooting the second It movie , as adult Bill and Beverly, until November for Warner Bros. The film is indeed going back for additional photography in Montreal, but it's only scheduled to last two and a half weeks.
    Lance Armstrong shares bloody selfie after bike crash

    Lance Armstrong shares bloody selfie after bike crash

    The disgraced USA cyclist reported that he "took quite the blow to the noggin" and was checked out at Aspen Valley Hospital. Lance Armstrong wiped out big time during a July 8 bike ride, and the pictures of his injuries are hard to look at.


Most liked

Liverpool Send Danny Ings to Southampton in 11th Hour Deadline Day Move
He has signed a four-year contract and could make his debut for his new club against former side Burnley on Saturday. Pedro Chirivella, Lazar Markovic, Divock Origi and Simon Mignolet could also leave in the next three weeks.

McDonald's mobile customers get chance to win food for life
According to the fine print, the victor can collect two free meals per week for 50 years. McDonald's says the victor will be drawn at random and be notified within two days.

Grichuk drives 3 runs past Red Sox to help Jays avoid sweep
Estrada allowed one run in seven innings against Seattle in his previous outing, snapping a four-start winless streak. Betts hit a single in the first inning, a triple in the second, a double in the fourth and a home run in the ninth.

Hargreaves Lansdown gains 137000 customers in a year
That brings the total number of the firm's clients to just over the 1m mark, an increase of 137,000 from a year ago . Clients need help and they want solutions, not just information.

Brad Pitt details millions spent supporting Angelina Jolie and kids
He calls Jolie's Tuesday request for a meeting specifically about child support "calculated to increase the conflict". Pitt's lawyers answered that Pitt actually suggested expediting the divorce in this way and had already agreed to it.

Ullrich arrested for attack on prostitute
Ullrich and an escort women had a dispute and that he attacked her", Lerch said. "She alerted the hotel staff and they called police.

Twins acquire RHP Chalmers from Oakland in exchange for Rodney
He has spent time with the Tigers, Rays, Angels, Mariners, Twins, D'backs, Padres, Cubs and Marlins. Rodney holds a 3.09 ERA, 50 strikeouts and 25 saves in 43.2 innings this season with the Twins.

Facebook introduces AR games to Messenger group video chat
Last week, Facebook suffered the worst one-day loss in Wall Street history, shedding $100 billion in market value. There are two games that will initially be available for users to plan with more set to be released soon.

Immigration Crisis: Celebrities Share Message For Ivanka Trump
President Trump signed an executive order in June ending the administration's family separation policy amid widespread criticism. These abuses have occurred on your father's watch and under the leaderships of Secretary Nielsen.

NASA's planet-hunting TESS catches a comet before starting science
Mars lies out of the video frame, but it makes its presence known with a faint beam of light visible. Celestial body is 48 million miles from Earth in the direction of the constellation southern Fish.

Its official! Nick Jonas confirms engagement with Priyanka Chopra
After sharing a picture of her father on her Instagram story, she wrote an emotional tweet for her mother, Madhu Chopra. Asked about his plans to have kids, he told Cosmopolitan , "I am not sure of the exact timeline.

Knicks Plan On Using Stretch Provision On Joakim Noah In September
Then , he completely fell out of the team's rotation in his second season as he just played seven games a year ago . The Knicks are planning to part ways with Joakim Noah sometime after September 1, according to ESPN .

Fredericton police: At least 4 killed in 'ongoing incident'
The incident in the town of Fredericton is said to be "ongoing". "It was sort of like a pop, pop, pop, pop". At least four people have been killed in a shooting in Fredericton , N.B., police have confirmed.

Recep Tayyip Erdogan tells Turkey to 'trust in God' as lira falls
It is the assumption that this rate rise is coming that has kept the Euro exchange rate complex relatively supported over recent months.

Taliban Fighters Try to Take Afghan City, Killing at Least 14
The attack followed a similar assault on Farah in May, when fighters came close to overrunning the city in western Afghanistan . US warplanes, drones, and helicopters came to the aid of the Afghan forces before they managed to repulse the Taliban assault.