Artificial intelligence (AI) is widely believed to be the future, for better or worse. The omnipotent technology has the potential to make our lives easier, so much so that some of us may no longer need to work (although that’s not exactly a good thing). You’ve probably seen news of companies integrating AI into all sorts of things, from e-bikes to self-driving cars. And Lenovo CEO predicts we’ll soon be seeing AI phones and computers.

Lenovo to invest large sums on AI

Lenovo’s CEO Yang Yuanqing said the development of artificial intelligence, especially the rapid growth of artificial intelligence chips, will promote the upgrade of intelligent devices. He believes that there will not be much impact this year, but it will have a revolutionary impact next year. This will promote the upgrade and replacement of computers, and he expects to see AI phones and computers next year.

This comes after Lenovo Group yesterday announced its first-quarter earnings for the 2023/24 fiscal year, which ended on June 30, 2023. Revenue for the quarter stood up at 903 billion Yuan, and net profit was 13.3 billion Yuan.

In a letter to employees following the release of the earnings report, Yang Yuanqing announced that the company will invest an additional 70 billion yuan over the next three years to accelerate the deployment of artificial intelligence technologies and applications around the world.

It appears Lenovo is looking to move beyond its traditional PC business and become a more diversified technology provider. AI could be the key technology that will help the Chinese company to achieve this goal.

Lenovo seems to be a little late in joining the AI bandwagon. Other major technology companies, such as Microsoft, Amazon, and Google, are already making significant investments and progress in this area.

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