Samsung to spend $A30 billion on AI

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The investments announced Wednesday are part of a larger plan to spend 180 trillion won ($160 billion) over the next three years on capital expenditures and research and development. Ltd. (Korea: SEC) reported its first sequential decline in quarterly profits, will also target automotive electronics components and biopharmaceuticals, said the company in a statement.

This story has been corrected to say that Samsung will increase the number of artificial intelligence researchers to 1,000.

"Samsung aims to lead efforts to foster a vibrant ecosystem for innovations and growth, leveraging its technology and decades of experiences in creating successful businesses", the company said.

Samsung said in a statement that it will invest 25 trillion won (22 billion US dollars) in promising business areas of artificial intelligence (AI), 5G, automotive electronics components and biopharmaceuticals over the next three years. The company did not indicate how many of its 320,671 employees (as of December 2017) are now involved in AI. (Nasdaq: INTC) and Qualcomm Inc.

Samsung said most of the new investments will be injected in its key businesses such as semiconductors and displays in order to develop value-added premium products and further widen gaps with runner-ups, especially those of China.

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Pochettino added: "I am happy to keep all the squad together, there were many rumours during the summer about players out". You need to be clever in how you settle your principles, your strategy and to try to win.

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

In addition, the company will also expand C-Lab, its internal venture incubator and support 500 projects. The centres will train 10,000 students and job candidates, and provide employment consulting services for the next five years. The numbers being proposed are much higher than the 25,000 the company hired in the recent three years.

Jay Lee, the vice chairman of Samsung Electronics, is appealing that conviction after being released from jail in February with a suspended sentence.

Lee was freed after almost a year in jail. Sales were down 4%, to KRW58.48 trillion ($52.2 billion), compared with the year-earlier period.

Samsung has a reputation for forging ahead with investment even when competitors brace for a slowdown, a strategy that's helped it emerge as the world's biggest chipmaker after surviving one crunch after another.

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