Mar 01, 2017 12:49 PM EST
Samsung Plans To Allot US$1 Billion To AI-related Tech
Much of the interest in today's technology is emphasized on artificial intelligence (AI) and other user companion features, which will be the same motive Samsung is pushing after the latest claim suggest that it is investing $1 billion funds into acquisitions of artificial intelligence companies.
Samsung will be embarking on a new investment for its future flagship phones, according to an anonymous source from the U.S. branch of Samsung Electronics. The outlet retailer Chosun Biz reported that the Seoul-based firm may even place more money into the AI fund.
"Despite several recent deals, the management pointed out the company still needed more fundamental investments into AI," as quoted from an unnamed Samsung official from USA.
One of the related investments made by Samsung in relation to its AI acquisitions is the purchase of Viv Labs, a U.S. AI startup founded by some of the developers who worked on Apple's smart assistant Siri. According to Android Headlines, Viv Labs is the responsible for the birth of Bixby, the unannounced AI assistant that is rumored to debut with the Galaxy S8 and the Galaxy S8 Plus.
Earlier, Samsung has invested on Harman International, which is famous for its car infotainment systems and other audio/visual equipment. A massive sum of US$8 billion took Samsung in acquiring the Harman tech giant, which is the company's largest purchase today and hints at Samsung's deeper interest in AI.
In recent report, Samsung also contributed to SoundCloud's funding promotion, which aims to improve its Houndify AI platform, Digital Trends reported. Apart from direct acquisitions, Samsung placed its "Samsung Next," a $150 million fund for startups specialising in VR, the Internet of Things, and artificial intelligence, in the Catalyst program.
Samsung's head of software research and development has already suggested their interest on acquiring AI companies. As noted by Bloomberg, the company executive said: "We are actively looking for M&A targets of all sorts in the software area. We are open to all possibilities, including artificial intelligence. Intelligence is no longer an option. It's a must."
While these could signify the improvement of AI and machine learning technology to Samsung, the initial product out of the mentioned event might be first seen on the Galaxy S8, which heavily rumored to feature the Bixby, an AI assistant.