Date: 2 months ago   Category: IT & Media

Xiaomi invests $1.5 billion in artificial intelligence and the Internet of things — Rambler News Service


Xiaomi will invest not less than $1.5 billion in development of artificial intelligence and the Internet of things within the next five years, Bloomberg reports. "Xiaomi will invest not less than 10 billion yuans ($1.5 billion) for development of artificial intelligence and smart devices within the next five years" — reported the edition. The company also plans to expand the presence in the European market, the founder of Xiaomi Lei Jun reported in an interview of Bloomberg Television. "Now it is a high time for actions. All of us in AIoT" — the edition cites Lei's words, referring to AI combination (artificial intelligence – RNS) and the so-called ecosystem of the connected devices known as the Internet of things. Lei did not specify a detail of the investment plan. Xiaomi seeks to diversify the source of income in connection with decline in demand for smartphones in the world. Together with it the company expects that demand for smartphones will return with the advent of the models supporting network 5G specified in the edition.

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