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Trends in Automation: South Korea to invest $860 Million in Artificial Intelligence

South Korean president Park Geun-hye announced plans last week to create a council on science and technology that will provide a huge boost to research and development within the country. The goal of the council is to “drastically enhance productivity in R&D investment.”

The move was party prompted by the closely watched matches of the ancient game of Go between Google’s artificial intelligence program AlphaGo and the Korean Go champion Lee se-dol. President Park has suggested a growing importance of paying attention to emerging technologies and leveraging them to improve technological innovation.

Park pledged that the government of South Korea will spend 1 trillion won ($840 million) by 2020 in efforts to improve South Korea’s artificial intelligence industry. Major companies within South Korea have joined the initiative, including Samsung Electronics, LG Electronics, and Hyundai Motor.

Park suggested that Artificial Intelligence is key to the next revolution in technology, and plans to use these programs to create jobs for younger Korean workers who are facing high unemployment rates.

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