Samsung doubling down on AI to secure business growth
Amid uncertainties in the global business environment, Samsung is doubling down on what it considers to be a significant driver of future growth. We’ve seen an increasing application of artificial intelligence in its products, from smartphones to even washing machines, and the company has said it will continue to focus on AI to drive growth.
The commitment comes from Samsung Electronics Vice Chairman Han Jong-hee, who said that the company will expand its innovation in the vastly expanding AI landscape and create new opportunities for sustainable growth.
Samsung sees AI as a major driver of future growth
Jong-hee was speaking to the company’s shareholders at the annual meeting held at the Suwon Convention Center in Suwon, Gyeonggi province. “Along with the high economic uncertainties, we expect new opportunities to increase through next-generation technological innovations such as the full-fledged launch of the AI era,” Han said.
He also confirmed to shareholders that Samsung will focus more on the organization and promotion system to develop new products and business models around AI that aim to improve the customer experience while also aligning with Samsung’s environment, society, and governance goals.
The shareholder returns generated by Samsung Electronics have been a topic of much debate recently. Jong-hee said that Samsung will be paying $7.32 billion in dividends to shareholders under the readjusted shareholder return program that has periodically increased dividend payments for stockholders.
Shareholders have been concerned about the flat share price of the company. He apologized for the stock price, but provided a positive outlook for the future, based on an expected recovery in chip demand. Jong-hee also committed to conduct all-out efforts to increase the company’s sales and profits.
