South Korea’s LG Electronics Inc. vows to double investment in the artificial intelligence (AI) and Internet of Things (IoT) technologies to become the global No.1 smart home appliance maker in the era of the fourth industrial revolution.

At a press meeting on Saturday (local time) in Berlin, Germany, Song Dae-hyun, president of LG Electronics’ Home Appliance & Air Solution division said LG Electronics would up investment twice as much in the smart home business by 2020 and hire 50 percent more research and development (R&D) staffs for the business. He didn’t disclose specific figure for the amount of investment.

Song who noticed the smart home boom at the IFA 2017 with a sharp increase in the number of displayed smart home products emphasized that the country’s electronics giant is on the right path to becoming a dominant player in the market. He said all appliances of LG Electronics to be released this year will come with Wi-Fi connections, and the company plans to make all products smart applying AI technology. The company will continue to invest in building infrastructure for smart home technology, he added.

Song was confident that the company would achieve its goal to lead the smart home market because it is one of only two appliance makers in the world that are capable of developing both telecommunications technologies and home appliances. The other company is its archrival Samsung Electronics Co., he said.

“We are ahead of our rivals” after LG Electronics has invested in the development of voice recognition technology and tried to incorporate AI technologies to its home appliances since 1980s, explained the president.

In line with its focus on smart home products, the Korean electronics giant is also expanding investment in developing robot technologies, President Song said, adding that LG Electronics already deployed its guiding and cleaning robots at Incheon International Airport in late July. Satisfied with their performance, other customers, including the organizing committee for the PyeongChang Winter Olympic Games to be held in next year, have asked the company to supply them, the president said. The company would concentrate on developing robots that would make a real difference in people’s everyday life, Song emphasized.

As of 3:00 p.m. Monday, shares of LG Electronics were 0.12 percent up at 83,700 won.

By Oh Chan-jong

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