Samsung commits $22 billion to AI, 5G and future tech

Thanks to the success of its smartphones, TVs, appliance and especially chips, Samsung is sitting on a large pile of cash. The company just announced that it will spend a lot of that to develop artificial intelligence, biopharmaceuticals, 5G wireless systems and other futuristic tech. The aim is to become more diversified and less dependent on declining smartphone and electronics markets. In total, Samsung will spend 25 trillion won ($22 billion) over the next three years, as part of an overall 180 trillion won ($160 billion) plan. Samsung will spend the money over the next three years, mainly in Korea, and hire 40,000 new employees, double what it promised before.