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Samsung to Invest $20B in AI, Auto Components

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Aug. 13, 2018—Samsung has initiated plans to invest nearly $20 billion into research regarding artificial intelligence (AI) over the next three years.

According to a CNBC report, the $20 billion would mainly be used to research multiple new technologies to support building components for future cars. Samsung said that 40,000 jobs would be created over the course of the next three years, with 1,000 of those positions being dedicated to AI researchers.

According to theverge.com, Samsung recently posted its slowest quarterly profit growth in more than a year (down 4 percentage points). The company said slow Galaxy S9 cell phone sales are a main culprit.

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