Lenovo’s CEO Yang Yuanqing said that the development of artificial intelligence, especially the fast growth of AI chips, will help smart gadgets get better. He thinks that it won’t make much of a difference this year, but that it will change everything next year. This will encourage people to improve and replace their computers, and he thinks that AI phones and computers will be available next year.
This happened after Lenovo Group announced its earnings for the first quarter of its fiscal year 2023/24, which finished on June 30, 2023. The company made 903 billion Yuan in sales during the quarter, and the net profit was 13.3 billion Yuan.
Yang Yuanqing sent a letter to employees after the earnings report came out. He said that over the next three years, the company will spend an extra 70 billion yuan to speed up the deployment of artificial intelligence technologies and applications around the world.
Lenovo seems to want to move away from just making PCs and become a more broad technology company. AI could be the most important tool that helps the Chinese company reach this goal.
Lenovo seems to have joined the AI trend a bit too late. Microsoft, Amazon, and Google, which are all big tech companies, are already making big investments and making progress in this area.
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