In order to maintain a good lead over others in emerging technologies, Samsung is ready to invest $22 billion in them over the next three years. The technologies will include 5G, AI, driverless cars, bio-pharmaceuticals, Internet of Things, robotics and more.
The news comes mere months after Samsung set up the world’s largest smartphone factory in India. It will officially commence operations in 2020.
For AI, in particular, it will expand the number of researchers it hires to 1000 by the end of 2020. They’ll be working in Samsung’s AI-focused research centers in the US, the UK, Russia, Canada, and Korea. If you’re majoring in AI or have proficiency in working with machine learning, this might be a good opportunity for you.
Part of a Larger Investment
In the larger picture, the plan falls under the mega $161 billion investment schedule that Samsung will oversee. Apart from emerging tech, the plan includes capital expenditure and R&D for its existing areas of expertise, such as the semiconductor and display divisions.
A lion’s share of that investment, $116.4 billion to be exact, will be spent on its home market (South Korea), however, its global AI and other research centers will be taking the remaining share. Samsung also reckons it will create 40,000 jobs in the process.
The news wouldn’t come as a surprise if you’ve followed Samsung’s R&D pursuit for a while. According to Statistica, last year the Korean company ranked third among all companies for R&D spend, at $12.7 billion, behind only Amazon and Alphabet and tied with Intel.