LG Electronics to Heavily Invest on Artificial Intelligence and The Internet of Things

South Korean Conglomerate LG Electronics announced that it will heavily invest in robot technology and artificial technology according to a report by Reuters Sunday.

LG, Samsung's rival, is seeking to take advantage of recent advances in artificial intelligence which have the potential of creating sophisticated machines that can perform mundane everyday human tasks.

LG, in a statement, said that its appliances division is preparing to enter the robotics industry, like Apple, Google, and Samsung, to create products which can integrate with their appliances products such as refrigerators, washers and air conditioning units.

"We will prepare for the future by aggressively investing in smart home, robots and key components and strengthen the home appliances business's capabilities," said Jo Seung-jin, head of LG's appliances business, in the statement.

Advances in artificial intelligence and wireless communications are making it possible for machines that are wifi-enabled to exchange information with each other and perform independent tasks.

According to Reuters, countries across the world are investing heavily in robotics in hopes to develop a new industry or cope with socioeconomic problems such as low birth rates or an ageing population by introducing machines which can serve humans as cooks, caretakers or laborers.

LG did not elaborate on how much it plans to invest in its push or when it expects to launch robotic products, but the firm said it is exploring a variety of options through the combination of technologies including autonomous driving and artificial intelligence.