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Samsung to invest $22 billion in AI by 2020

Reuters SAN FRANCISCO

Last Updated : Nov 08 2018 | 12:25 AM IST

SAN FRANCISCO (Reuters) - Samsung Electronics Co <005930.KS> said on Wednesday it planned to invest $22 billion in artificial intelligence technology by 2020.

Speaking at its developers conference in San Francisco, Samsung's head of AI, Eui Suk Chung, also said the company will hire a thousand employees to work on the technology in the same period.

Samsung is expected to launch its much-anticipated foldable phone to developers at the conference later on Wednesday.

(Reporting By Jane Lanhee Lee and Munsif Vengattil; editing by Patrick Graham)

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