Samsung Electronics Co. Vice Chairman Jay Y. Lee laid out a bold roadmap recently on where the tech giant is headed. The areas of focus will be on AI, 6G networks, and blockchain technology.
The Vice Chairman of Samsung and its de facto leader Jay Y. Lee has put out a statement with ambitious goals going forward. The company is squarely focused on reinventing itself for the next technological revolution. This revolution, Lee believes, will occur in three key areas: AI, 6G networks, and blockchain technology.
As Apple and Huawei look to implement 5G networks on the ground, Samsung is looking further into the future. In an extremely competitive environment, Jay Y. Lee is starting to sound much like his father in pushing the company towards innovation that will set Samsung apart.
Samsung Bets Big on Blockchain
Samsung has already teased that it is developing its own blockchain network and potentially a cryptocurrency, now called “Samsung coin.” So far, details are hard to come by. However, Lee’s recent comments confirm that the company is deeply invested in blockchain technology.
The company also made the news in late February for announcing that its latest flagship Galaxy S10 phones would include a cryptocurrency wallet built-in. The wallet supports Bitcoin, Ethereum, and some ERC20 tokens. The S10 phone line even supports decentralized applications. One such dApp, based on Cosmo tokens, was the first to go live.
Samsung is looking to ramp up these developments and we can likely find out more details about its own blockchain network by year’s end.
Samsung Looks to Set Itself Apart
As many tech companies, like Microsoft and Apple, move towards streaming-as-service products, Samsung was in jeopardy of losing significant profits. Therefore, Lee’s comments come at a prescient time and they affirm that the tech giant is planning ahead.
Samsung Research already runs its own AI labs which operates on a three-way model: language, vision, and machine learning. In total, the company now has seven global AI centers in five countries.
As for 6G, the details on the company’s efforts on this front are scarce. Although we are still in the beginnings of 5G implementation, Samsung is anticipating 6G to come faster than most expect.
In short, Lee says, Samsung expects these emerging technologies become the main focus of the company within 10 years. It’s an ambitious target, but it also matches the accelerating rate of technological change we’ve seen in the past decade alone.
Do you believe that Samsung will unveil more details on its blockchain network by the end of 2019? Let us know your thoughts below.
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