Samsung Follows In LG’s Footsteps With AI, 5G And Automotive Investments

Samsung Electronics appears to be following in LG Electronics’ footsteps by investing big in emerging technologies pertaining to artificial intelligence (AI), 5G and automotive electronics components.

When Samsung unveiled its 180 trillion won (US$160 billion) investment plans for the next three years earlier this week, it disclosed its next big move in the emerging technologies markets. The South Korean tech giant said that it is investing 25 trillion won or US$22.38 billion in the areas of AI, 5G network and autonomous driving.

Digitimes has learned that Samsung is opening up a venture incubation program for both external and internal startup projects and it also intends to provide software training to startups. Samsung sees a big opportunity in the field of AI, since this is the technology that is expected to drive the industry’s major transformation for the future.

Samsung is also interested in 5G telecommunications technology because it is expected to bring in new opportunities for robotics, the Internet of Things (IoT) and even autonomous driving. Speaking of autonomous driving, Apple’s biggest rival is aiming to become the leader in electronics components for future cars.

Samsung is looking to attract more than 1,000 talents into its AI research lab in its home country. It also wants to lead the 5G network-related equipment and device market. Plus, it is hoping that its new investments would help speed up its automotive parts business for connected cars, as per The Investor.

The news comes more than a week after LG launched its new AI research lab in Canada and announced its partnership with the University of Toronto, which is known for its expertise in AI and machine learning, particularly in deep learning. LG’s new facility is an extension of its Silicon Valley AI Lab in Santa Clara, California, which was set up in June.

LG Corp. previously expressed its goal of finding new business opportunities and acquiring startups. The conglomerate is focused on finding startups that specialize in robotics, AI and autonomous vehicles, for it needs new driving forces for growth amid strong competition from the rivals of its existing businesses.