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Samsung to invest more than $22 billion in AI, 5G and future tech

In the next three years, Samsung will be putting more money toward areas like artificial intelligence and 5G networks.

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Samsung will put more than $22 billion toward tech like AI and 5G.

Jung Yeon-je / AFP/Getty Images

Samsung is putting more than $22 billion toward artificial intelligence, 5G networks, biopharmaceuticals and electronic automotive parts over the next three years.

"Samsung aims to lead efforts to foster a vibrant ecosystem for innovations and growth, leveraging its technology and decades of experiences in creating successful businesses," the company said in a statement Wednesday. Samsung didn't immediately respond to a request for further comment. 

In addition, the company will also expand C-Lab, its internal venture incubator and support 500 projects. 

Samsung projects that the investment will lead to the creation of 40,000 jobs over the three years.