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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.

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.