Samsung is prepared to sink a lot of money into the Internet of Things.
Speaking at an event in Washington, DC, Samsung Vice Chairman Oh-Hyun Kwon outlined the company's strategy for building out the web-connected network of devices we refer to as the Internet of Things, or IoT, according to a press release. Samsung's two-pronged approach involves investing money into research and development and helping guide US policymakers.
Samsung plans to sink $1.2 billion into US-based research and development and investments over the next four years, with the goal of being able to build systems that serve individual needs but can scale up to provide broader social benefits. As an example, Kwon cited keeping people out of nursing homes with new technologies.
"Today, IoT is changing individual lives -- helping people to age in their own homes," he said. "But tomorrow, using IoT, we can give the same independence to millions of Americans. We can keep people out of hospitals and nursing homes."
Kwon also announced an initiative, hosted by the Information Technology Industry Council, to develop a national IoT strategy that can guide policymakers and prevent regulation that might hinder the ability of devices to talk to each other. The ITI lists the strategic issues that it plans to address as:
- Privacy and security
- Internet infrastructure investment
- Enabling interoperability for global adoption and integration
- Promoting voluntary, industry-led global consensus-based standards and best practices
- Leveraging public-private partnerships
- Enabling innovation to flourish