BUSINESS INSIGHTS : The latest news, analysis, and trends about protection and care

After a disappointing trimester of smartphone sales, Samsung are embarking on a strategical three-year plan to pour money into artificial intelligence (IA), self-driving cars and 5G. The money invested – 161 billion dollars – is set to create 40,000 jobs in South Korea.

Samsung have just announced an ambitious strategical plan: the company is set to invest 161 billion dollars over three years to develop three new fields – self-driving cars, artificial intelligence and 5G – reports Usine Digitale. These projects will primarily be led by subsidiary Samsung Electronics, the world’s leading manufacturer of electronic chips, the South Korean company announced in a press release published on 8th August.

 

A thousand researchers specialising in AI

 

Samsung’s plan, in addition to investing capital, includes a budget of 22 billion dollars  for research into these three new technological fields. “Samsung expects innovations powered by AI technology will drive the industry’s transformation, while the next-generation 5G telecommunications technology will create new opportunities in autonomous driving, the Internet of Things (IoT) and robotics,” the press release says.

Artificial intelligence will be given special attention, as the South Korean high-tech company is set to take on more researchers specialising in artificial intelligence, bringing their number up to around a thousand.  

 

40,000 jobs for South Korea

 

In a bid to maintain their position as market leader for semiconductors, Samsung have announced that part of their investment will be used to fit out their factories, with the aim of increasing production. Furthermore, 70% of the overall budget will be invested within South Korea, with 40,000 jobs set to be created there over the next three years.

This news follows on from a request made by the government: the South Korean Minister of Finance had voiced his concern about the high unemployment rate in youngsters to Lee Jae-Yong, vice-chairman of Samsung, during an interview that took place two days previously.

 

Allianz Partners

Contact
Linked Topics
About Allianz Partners Business Insights