The Korean company has earmarked funds for artificial intelligence firm acquisitions, according to a report.
(CCM) — Samsung is about to embark on a $1 billion spending spree to buy technology firms with expertise in artificial intelligence, according to a report in the Korea Herald. The report cites a Samsung source who says that the company has already earmarked the cash to acquire AI companies or stakes in these firms. These purchases will follow Samsung's 2016 acquisition of Viv Labs, the technology firm started by the founders of Siri. Later this year Samsung is expected to launch Bixby, an intelligent assistant designed to rival Apple's Siri, Microsoft's Cortana, and Google's Assistant. It has been built using the artificial intelligence technology acquired with Viv. It is likely that Bixby will be available later this year in the company's flagship Galaxy S8 handset. Over the last twelve months Samsung has purchased a number of other technology firms, including US car infotainment giant Harman International, but the company still feels the need to bolster its artificial intelligence resources, according to an industry source quoted in the report. "Despite several recent deals, the management pointed out the company still needed more fundamental investments into AI," the source said.
Without its own intelligent assistant Samsung has struggled to get a foothold in the mobile software arena, and the company will be keen to avoid missing another opportunity after failing to purchase the Android operating system when it was offered to Samsung by founder Andy Rubin in 2005. Android was subsequently purchased by Google and now dominates the mobile operating system market.
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