Samsung's next move: A $22 billion bet on new tech

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It will also develop a range of system-on-chips for autonomous driving based on its semiconductor, telecoms and display technologies products, as well as build new chipsets to support AI, 5G and data centres. Exactly how big are we walking?

In the field of AI, which is becoming a priority for almost every technology company on the planet, Samsung said its aim was to increase its number of AI researchers to about 1,000 globally.

To expand its AI capability, Samsung will be increasing the number of researchers to 1,000 across its global AI centers in the U.K., Canada, Russia, U.S. and South Korea.

Samsung has revealed it is set to spend billions on new technologies at it looks to keep pace with the likes of Apple and Google. 5G is the next frontier in wireless communication, and while widespread deployment is still years away, the groundwork is already being laid.

Samsung projects that the investment will lead to the creation of 40,000 jobs over the three years. Samsung has its tentacles in several different market segments, which has allowed it to weather dips in demand in certain categories, like smartphones.

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Protesters wave Israeli and Druze flags at a demonstration in Tel Aviv against the nation-state law, on August 4, 2018. The law, however, would not require making state services accessible in Arabic.

"Samsung has seen strong growth from both its contract manufacturing and biosimilar businesses".

It is noted that these attachments are part of the three-year investment plan with a total volume of 180 trillion won, aimed at creating new jobs and providing new sources of growth.

Samsung, which earlier acquired USA automotive electronics firm Harman International Industries Inc., has been making various progress in this field.

The company is one of the largest employers in South Korea, and is seen as one of the nation's shining lights to the rest of the world - a reputation that was severely damaged past year when company heir Jay Y.Lee was imprisoned on bribery charges.

Samsung has been one of the most profitable tech companies on the planet in recent years. Alongside direct employment, the investment is expected to help create 700,000 new jobs in related industries and businesses. The area accounted for 78.1 percent of the combined operating profit in the second quarter.