Samsung Betting Big On Artificial Intelligence, Looking To Spend $1B Acquiring AI Companies: Report


Samsung is apparently ready to bet big on artificial intelligence, with a massive amount of money set aside for buying more AI companies.

Artificial intelligence is rapidly gaining ground and it's playing an increasingly bigger role in people's everyday lives. From smart digital assistants to all sorts of gadgets, robots, infotainment systems and more, AI is shaping up as a cornerstone of modern technology and it adds convenience in virtually every technology area.

We've seen an impressive growth in the artificial intelligence field in recent years and the trend is gaining momentum still, with more companies embedding AI technology into more products and areas.

Samsung itself is expected to take a big AI plunge with a smart assistant called Bixby, presumably set to grace the next-generation Samsung Galaxy S8 flagship. Bixby is reportedly based on technology from Viv Labs, an artificial intelligence company that Samsung acquired back in September 2016.

Viv Labs was founded by the creators behind Apple's popular Siri digital assistant and Bixby is expected to be a massive selling point for the Galaxy S8 and future high-end devices from Samsung.

Samsung Reserving $1 Billion To Buy AI Companies

A new report out of South Korea now indicates that Samsung has even more ambitious artificial intelligence endeavors. The report claims that Samsung is considering setting up a large fund for future acquisitions, with a specific focus in mind. The company is reportedly allocating a whopping $1 billion to this goal and a Samsung Electronics US official, who agreed to comment under condition of anonymity, said that Samsung is reserving that fund for acquiring AI companies.

While Samsung has already made a number of deals recently, including the Viv Labs acquisition, the company's management reportedly agreed that Samsung needs to invest more in artificial intelligence. A $1 billion fund for AI acquisitions could definitely go a long way toward that goal, but it remains to be seen whether it will actually materialize.

Samsung AI Efforts

Samsung's increased interest in artificial intelligence might be stemming from the company's bid to set itself apart from the crowd and come up with something more innovative. The Galaxy Note 7 disaster put quite a dent in the company's financials and reputation and those two recalls won't be easy to put behind, but Samsung is expected to make up for that fiasco with a truly impressive Galaxy S8 flagship with Bixby AI on board.

Various reports speculate that Bixby will debut on the Samsung Galaxy S8, but it will eventually expand to more Samsung products later on. The AI assistant will likely reach only high-end devices at first, but it could reach even mid-range devices further down the line.

Having a more solid portfolio of AI companies under its belt would undoubtedly help Samsung gain a bigger foothold in the market, but it remains to be seen how things will pan out in the end.

It's all still in the rumor stage at this point, so it's highly advised to take all such rumors and reports with a dose of skepticism. As always, we'll keep you informed as soon as we learn more.

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