LG To Boost Smart Home Business By Acquiring AI Technologies

LG Electronics is planning to go all-out in acquiring AI technologies in an attempt to boost its smart home business. At IFA 2017, the South Korean electronics company disclosed what it intends to do by 2020. Over the weekend, LG's home appliance and air solutions division head Song Dae-hyun spoke at a press conference at a hotel in Berlin about the tech company's move to expand its smart home business. According to Song, LG wants to boost this aspect of its company by doubling its investment in mergers and acquisitions of artificial intelligence and Internet of Things technologies, Korea Herald has learned. "As for the AI business, inorganic growth would be more effective. LG officially seeks to acquire some AI companies. But so far, many acquisition projects fell apart due to market conditions," Song said before noting that Samsung's neighboring rival "is aggressively looking for a good AI company."