Samsung Electronics (KRX:005930) announced its plan to invest $1.2 billion in R&D in the United States over the next four years as part of its vision for Human-Centered Internet of Thing (IoT).
The South Korean electronics giant has 15,000 employees across the United States. Its planned investment for human-centered IoT will be managed by the Samsung Strategy and Innovation Center, Samsung Global Innovation Center and Samsung Research America.
The company’s Vice Chairman and CEO Dr. Oh-Hyun Kwon disclosed the investment during his speech at the forum in Washington.
“I am excited to show how we are moving IoT to the center of our strategy and am delighted to announce that Samsung is planning to spend $1.2 billion in US-centered IoT investments and R&D over the next 4 years,” said Dr. Kwon.
He also encouraged his peers in the industry “start talking and thinking differently about IoT.” According to him, they should discuss IoT with a human-centered approach; embrace the life-changing possibilities of the technology, and work together to make it beneficial to the society.
Samsung puts people at the center of everything
Dr. Kwon also stated that their highest value at Samsung is “putting people at the center of everything.”
“The same must be true for IoT if we want to realize its full transformative power. Today, IoT is changing individual lives – helping people to age in their own homes. But tomorrow, using IoT, we can give the same independence to millions of Americans. We can keep people out of hospitals and nursing homes. As our populations live longer, these benefits and cost savings for society cannot be ignore,” added Dr. Kwon.
Samsung encourages openness and collaboration
Furthermore, Dr. Kwon encouraged the industry and policymakers to be open and collaborative when it comes to developing IoT.
According to him, “If we want innovators everywhere to make use of IoT, we must make sure all tools are open to them. This means technologies that connect to each other, because we know that boundaries around technologies hold back innovation and scale.”
Dr. Kwon also warned that the development of IoT will be fragmented if lawmakers would implement sector-specific regulations, which will also prevent devices and platform from connecting to each other.
 announced its decision to invest $1.2 billion in R&D in the United States over the next four years as part of its vision for Human-Centered Internet of Thing (IoT).){kind=link}