IT

Samsung to put $22 billion in artificial intelligence, autos

Samsung to put $22 billion in artificial intelligence, autos

The South Korean company has prepared a three-year investment plan to expand business.

South Korea's largest conglomerate Samsung Group is planning to invest about 25 trillion Korean won ($22 billion) over the next three years into new growth areas, led primarily by Samsung Electronics.

It will also develop a range of system-on-chips for autonomous driving based on its semiconductor, telecoms and display technologies products, as well as build new chipsets to support AI, 5G and data centres.

The company said a substantial slice of the overall investment pie will be earmarked for South Korea itself, and that overall the investment will create some 40,000 new jobs. However, it told Reuters that "it will provide most of the investment".

Mayfield to play 2 quarters in preseason opener
He hit 11 of 20 passes for 212 yards, didn't turn the ball over and converted two fourth-down plays with his feet. He finished his debut with a completion on a 54-yard, slant-and-run score to fellow rookie Antonio Callaway .

"Samsung's brimming with cash right now", said Kwon Sung-ryul, an analyst at DB Financial Investment in Seoul.

There are plans to increase the number of advanced AI researchers at its AI centres to 1,000 while there will also be an expansion of its semiconductor manufacturing capabilities to cope with demand for AI, 5G, data centre and connected auto components.

On the education front, the company is setting up a number of software education centers in South Korea, offering training and "employment consulting" to about 10,000 students and job candidates. "It will continue to invest heavily in the businesses, including developing and manufacturing biosimilars", it said in a statement.

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

UK PM May scolds Johnson for burqa remark after outcry
Jacob Rees-Mogg, a Conservative member of Parliament, however, told Nigel Farage on his radio show on Thursday May was wrong. By a narrow margin of 48 per cent to 45 per cent they thought he did not need to say sorry for his comments.

Samsung said it already helped 1,086 companies adopt smart factory solutions from 2015 through 2017, with the beneficiaries observing an average 5.5 percent increase in their sales.

Through such investments, Samsung plans to foster AI, 5G, biotechnology and electronic components as key future growth engines. Lee was freed after almost a year in jail but former President Park Geun-hye and a close associate remain imprisoned for bribery and other charges.

Samsung Electronics stocks traded flat.

Chelsea confirm the capture of Croatia World Cup star Mateo Kovacic
He has signed a seven-year contract at the club and replaces Thibaut Courtois , who has joined Real Madrid . I just think Chelsea have made a great bet in taking me.


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