Samsung to invest $22 billion in AI by 2020

FILE PHOTO: The logo of Samsung is seen on a building during the Mobile World Congress in Barcelona, Spain February 25, 2018. REUTERS/Yves Herman/File Photo

SAN FRANCISCO (Reuters) - Samsung Electronics Co (005930.KS) said on Wednesday it planned to invest $22 billion in artificial intelligence technology by 2020.

Speaking at its developers conference in San Francisco, Samsung’s head of AI, Eui Suk Chung, also said the company will hire a thousand employees to work on the technology in the same period.

Samsung is expected to launch its much-anticipated foldable phone to developers at the conference later on Wednesday.

Reporting By Jane Lanhee Lee and Munsif Vengattil; editing by Patrick Graham

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