Samsung Set to Invest Billions in the Future of Artificial Intelligence

During the early hours of this morning, Samsung unveiled new plans to invest 25 trillion Korean Won (equivalent to $22 million) in four of modern tech‘s hottest areas of development. The announcement comes with a three-year plan in which the company intends to ‘drive its future growth’ by interlinking with businesses and researchers in the areas of fifth-generation mobile networking (5g), smart car components, biopharmaceuticals, and artificial intelligence.

This comes with an air of excitement from those that have followed the growth of AI in the past few years. It is generally reported that much of the subject’s problem is the lack of specialized and advanced researchers, making it difficult for us to utilize this research and use it for wider purposes. Samsung expresses the intention to part with some of that cash “to significantly expand its research capability, increasing the number of advanced AI researchers to 1,000 across its global AI Centers,” which is what the industry desperately needs.

However, it’s not all altruism. Experts suggest that the current market for AI, which will only be grown through research and development, forecasts a 37% CAGR (compound annual growth rate) in the next five to six years. If they’re correct, that means that the market will be worth in excess of $191 billion by the year 2024. It’s an area of computing that few can deny the potential of.

Currently, one of the major driving factors of the AI market is what you’d expect: everyone wants a robot friend/PA/pet that can help you manage your journey through this increasingly confusing and migraine-inducing world. The demand for virtual assistants is arguably best placed at the foot of a company like Samsung, whose hardware is good enough that many Apple products actually contain components made in their factories. Hopefully, the new cash flow into the industry will provide exciting results within the next decade… and you can get the tetchy pocket assistant you’ve always dreamed of.