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Lenovo set $1.2 billion to develop artificial intelligence

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Tinuku ~ Lenovo Group Ltd prepares US$1.2 billion for research and development of Artificial Intelligence (AI). The technology giant headquartered in Morrisville also boosted the transformation of mobile business and data center to drive profit growth. CEO Yang Yuanqing said the AI technology will drive drastic changes in personal computers and consumer electronics devices for the next three to four years.

Tinuku Lenovo set $1.2 billion to develop artificial intelligence

The world's second-largest electronics giant and second-largest personal computer supplier said Thursday that computer manufacturers, mobile phones and other electronic devices that do not develop AI technology will face problems and will not survive in the future.

"Sales of PCs and other devices will decline if we do not adopt AI technology to meet consumer demand," Yuanqing said in a statement.

Lenovo founded in 1984 has operated in over 160 countries reporting net income for the fiscal year ending in March of US$535 million. Lenovo's CTO, Rui Yong, said the company will also accelerate the transformation of mobile and cloud equipment business to drive sustainable profit growth.

On Thursday the company announced a collaboration with one of the world's largest e-commerce giants to develop big data technology. Lenovo will also collaborate with electric car manufacturers and intelligent vehicles, NIO, to build the cloud.

"I believe every device will generate data for analysis and better utilize it with computing technology. We can produce devices that are smarter for consumers and offer better services for businesses," said Yong.


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