Chinese PC titan Lenovo Group will invest more than $1.2 billion in research and development into artificial intelligence, the internet of things and big data over the next four years, said Chairman and CEO Yang Yuanqing.
The company will also work with Google and Amazon.com in product development to meet its goal of raising the contribution of smartphones and other new businesses to 50% of total sales from the current 30%, he told The Nikkei.
In February, the company said in its annual report that it is currently exploring a number of fields including smart home appliance, smart office and smart healthcare as its future growth engines. Last month, it established an artificial intelligence lab headed by German Research Center for Artificial Intelligence’s senior researcher and project leader, Xu Feiyu.
Chinese technology giants have all jumped on the AI bandwagon in the past few years. Baidu founded the Institute of Deep Learning in 2013 to focus on image recognition, machine learning, robotics, human-computer interaction, 3D vision and heterogeneous computing. In the same year, it launched another AI lab in silicon valley.
In February, Baidu obtained approval from the Chinese government to establish a national AI lab conducting research of deep learning, computer vision, machine hearing, biometric identification, human-computer interaction, standardized services and intellectual property in deep learning.