Samsung's Investment in AI
As the fourth industrial revolution based on artificial intelligence (AI) has begun, Samsung Group has invested in seven global startups dedicated to AI solutions. One of them is Idibon, an emerging firm in the AI sector in Silicon Valley, the U.S.
Accordingly, Samsung Venture Investment Corp., which is in charge of the investment in new technology areas in Samsung Group, ranked fourth in terms of investments in AI start-ups.
According to Samsung Group, Samsung Venture Investment has invested hundreds of thousands of dollars each in AI start-ups, such as Vicarious, Idibon and Expect Labs (which is recently renamed MindMeld). Idibon, which analyzes features of many difference languages, is working together with companies that develop AI-based language recognition. Expect Labs is also a firm that has developed an AI-based video chat technology.
Samsung Venture Investment has made seven investments in AI start-ups, such as Mind Meld, Reactor Labs, Automated Insights and Maluuba that are already unveiled, in the past three to four years. Including unknown investments, its number of investments will exceed 10.
Accordingly, CB Insights, a U.S.-based venture capital database, ranked Samsung Venture Investment fourth in size among global firms, which have made investments in AI start-ups in the last five years.
In addition to the investment in AI start-ups, the group is attracting attention with the direct movement of Samsung Electronics. The company, in partnership with Australia’s Deakin University, launched the project to apply an AI technology to a smart home platform called SmartThings this year. It is part of demonstration projects that help elderly residents aged between 73 and 81 in Geelong City, Australia, live safely at home.