Samsung Announces Higher Investments in AI, 5G to Accelerate Its Future Business Growth
Artificial Intelligence is superseding the internet, and before that industrialization, to be the biggest change agent in the global business landscape. Nowadays, a new era of the enterprise is growing rapidly strong, developing cutting-edge, niche products and services such as AI robots, AI research, and Machine Learning among many others. Artificial Intelligence, or AI as it is popularly called, is making a very strong impact for businesses that currently leverage it. Now, Samsung, one of the most valuable brands in the world will focus a large chunk of its investments exclusively for the development of AI products.
Samsung made this announcement on Wednesday citing changing times in business as the primary factor for this decision. The company also shares similar views for their interest in being one of the pioneers in developing the emerging 5G capability. Samsung has the largest market share when it comes to smartphones. As such the company will definitely find it in their interest to marry a stronger 5G internet bandwidth with a futuristic smartphone. This has also become critical considering dropping technology prices worldwide and the genesis of newer smartphone sellers that offer similar products, fairly inexpensively. Hence, Samsung is preponing safeguarding the future of their enterprise.
Analysts also predict that Samsung wants to grow its 5G network for another reason — Huawei. Currently, Huawei is the global leader in the manufacturing of telecom equipment.
Huawei and Ericsson are leading globally as telecom equipment manufacturers, with their market shares at 28% and 27% respectively — Samsung’s share is 3%.
The bottom line is, Samsung will invest $22 billion in their innovation efforts towards AI and 5G in the next few years. Their first priority is to sell more telecom equipment and get their market share up to 20% by 2020.