Samsung will invest $1.2 billion in Internet of Things from now to 2020

Samsung Electronics Vice Chairman and CEO Dr. Oh-Hyun Kwon unveiled today Samsung’s vision for ‘Human-Centered IoT,’ including a strategy to spend $1.2 billion over 4 years for U.S.-based Internet of Things (IoT) R and D and investments. This will be led by the Samsung Strategy and Innovation Center, Global Innovation Center and Samsung Research America, part of Samsung’s U.S. footprint of more than 15,000 employees across the country.

Vice Chairman Kwon delivered this news in a speech as part of a Samsung-hosted forum in Washington, D.C. The event, entitled Internet of Things: Transforming the Future, brought together technology industry leaders with policymakers and influencers to discuss the many ways IoT can benefit society, and how to tackle the challenges that remain in bringing it to scale.

The Samsung CEO talked about cutting 9 gigatons of carbon emissions

Put sensors onto the police cars, ambulances and postal trucks to transmit data on roads and bridges.

IOT can also be used to address drought.

IOT gathers data that can be used to manage things more efficiently and better.

In his keynote Vice Chairman Kwon offered industry and policymakers two principles in addition to a ‘human-centered’ approach: to be open and collaborative.

“If we want innovators everywhere to make use of IoT, we must make sure all tools are open to them. This means technologies that connect to each other, because we know that boundaries around technologies hold back innovation and scale,” the Vice Chairman said.

He also warned that sector-specific regulations would inherently fragment the development of IoT, impeding devices and platforms from connecting to each other.

As the IoT ecosystem is by nature connected and interwoven, collaboration is vital to promoting this level of openness and interconnection. In this vein, Vice Chairman Kwon urged attendees to pursue cross-sector dialogue and partnerships, and announced Samsung’s role as a co-founder of the newly launched National IoT Strategy Dialogue.

Todays Internet of Things event had

  • Samsung Electronics CEO and Vice Chairman O.H. Kwon
  • Congressman Darrell Issa
  • Intel Corporation Senior Vice President and General Manager
  • Internet of Things Group, Doug Davis
  • Commerce Department Director of Digital Economy and Senior Advisor to the Secretary Alan Davidson
  • Verizon VP of Smart Communities Mrinalini Ingram
  • Nest Labs’ Vineet Shahani
  • Breezie Founder and CEO Jeh Kazimi
  • SmartThings Founder and CEO Alex Hawkinson
  • U.S. Department of Transportation Chief Innovation Officer Chris Gerdes