Foxconn to plug at least $340M into AI R&D over five years


Manufacturing giant Foxconn has said it will make a major investment in artificial intelligence-based R&D as it looks for new business growth opportunities in a cooling global smartphone market, Nikkei reports.

“We will at least invest some 10 billion New Taiwan dollars ($342M) over five years to recruit top talent and deploy artificial intelligence applications in all the manufacturing sites,” said chairman Terry Gou.

“It’s likely that we could even pour in some $10BN or more if we find the deployments are very successful or can really generate results.”

Gou added that the ambition is to become “a global innovative AI platform rather than just a manufacturing company”.

Data put out this week by Strategy Analytics records a 9 per cent fall in global smartphone…

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