Owing to the booming success of its smart gadgets including TVs, washing machines, smartphones, tablets and chips, the South Korean company Samsung is one of the richest electronics companies not only in India but in the world.
The company has recently made an announcement that it will spend 22 bl dollars for the development of AI or artificial intelligence. It has also declared that the money will be used for 5G services, biopharmaceuticals, and other futuristic technologies as well.
The company is aiming to diversify its field instead of depending on the electronic market and smartphones. Samsung plans to spend as much as 180 bl dollars over the next few years on the development.
The South Korean company is ready to employ near about 40 thousand new employees and the advancement will take place primarily in Korea. According to a declaration made by one of the company officials, Samsung will not confine artificial intelligence in smartphones only but it will be available in all the devices of the company by the end of 2020.
However, the company has also clarified that as a huge amount of its revenue comes from the chip division, a colossal amount of the investment will be spent on that. Currently, Samsung has left behind its core rival Intel in the race of becoming the world’s leader in electronic manufacturing.
Samsung is trying to cope with the slow rate of sales that it experienced during the last financial quarter. Besides, the company is also focusing on restoring its status to the Korean government as well as the Korean public.