- At the beginning of 2019, the company had talke about going “All in AIoT”
- The number of connected devices on Xiaomi’s AIoT platform is more than 170 million as of March 2019
Xiaomi will invest more than $7.18 billion in artificial intelligence and fifth-generation Internet technologies over the next five years. Xiaomi co-founder and chief executive Lei Jun made this announcement in a letter posted on the company’s social media account. He did not provide specific investment details.
At the beginning of 2019, the company had talke about going “All in AIoT”. It had planned an investment of $1.43 billion in this field over the next five years.
AIoT strategy committee
He added, “5G+AI+IoT and next generation super internet” perfectly fits Xiaomi’s Internet DNA. We can bring truly smart and innovative technology and enable everyone to enjoy a better life through this. At the beginning of 2019, we talked about going “All in AIoT”, and planned an investment of RMB 10 billion ($ 1.43 billion) in this field over the next five years. After a year of verification, we are increasing our investment in this. We now believe we will invest at least RMB 50 billion ($ 7.18 billion) over the five years in “5G+AIoT” to double down on our lead in the field. This is to ensure we win in this new smart era.”
The Group had established an AIoT strategy committee to help its AIoT development and enhance synergy among its departments during March 2019.
Deep talent pool
Lei Jun’s open letter also read, “We promoted many young and capable leaders, refined our talent grading and selection mechanisms and began training programs at Qinghe University. A deep talent pool will go a long way in contributing to Xiaomi’s long term growth.”
The number of connected devices on Xiaomi’s AIoT platform is more than 170 million as of March 2019. . Its AI assistant, Mau, at that time, had more than 45.5 million monthly active users, making it one of the most used AI voice interactive platforms in mainland China