Midea Group, the owner of industrial robot giant Kuka, is the latest Chinese company to pledge heavy investment in AI and robotics – another 60 billion yuan (US$8.7 billion) over the next three years – as traditional industries embrace futuristic technologies.
The planned expenditure on research and development, with a focus on “AI, embodied intelligence and other cutting-edge areas”, matched its total spending over the past five years, the company announced in Shanghai on Tuesday.
The strategic…
China’s Midea pledges US$8.7 billion for AI and robotics in pivot to automation
