Half of the investment will go directly to Samsung’s two U.S. research facilities in Silicon Valley to focus on and develop technologies that power IoT devices including products and chips.
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Samsung is looking to take its relationship with the Internet of Things to the next level with an investment to the tune of .2 billion.
Samsung is also co-founding a “national IoT strategy dialogue” with Intel that aims to shape United States regulation on the internet of things. “The same must be true for IoT if we want to realize its full transformative power”, he said. Today, IoT is changing individual lives – helping people to age in their own homes.
Samsung Electronics Vice Chairman Kwon Oh-hyun delivers a keynote speech during an forum on the Internet of Things in Washington on June 21. “But tomorrow, using the IoT, we can give the same independence to millions”.
Exploring the idea of “human-centered”, Kwon stressed collaboration and open development ecosystems. “As our populations live longer, these benefits and cost savings for society can not be ignored”, he said. “If we want innovators everywhere to make use of IoT, we must make sure all tools are open to them”, he said. The launch of the Dialogue, to be hosted by the Information Technology Industry Council (ITI), coincides with the new Department of Commerce IoT proceeding and the pending bicameral and bipartisan Developing Innovation and Growing the Internet of Things (DIGIT) Act in Congress.
Among its focus areas, the National IoT Strategy Dialogue will act as a convener and lay the foundation for industry to develop strategic policy recommendations to drive U.S. IoT infrastructure investment; facilitate interoperability; foster security; promote voluntary, industry-led global consensus-based standards and best practices; leverage public-private partnerships; and enable IoT innovation to flourish.
The initiative comes as the global IoT market is expected to grow to US$1.7 trillion by 2020.
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About Samsung Electronics Co., Ltd.
