Mon, Jul 09, 2018 - Page 16 News List

Hon Hai to fund innovative start- ups in Bay Area

Staff writer, with CNA, LOS ANGELES

Hon Hai Precision Industry Co (鴻海精密) is planning to invest in the San Francisco Bay Area in northern California, chairman Terry Gou (郭台銘) said on Friday last week, adding that he is upbeat about the outlook of innovative start-ups there.

Speaking at Stanford University, which is seen as the heart of Silicon Valley, Gou said that Hon Hai would pour funds into Bay Area start-ups aiming to develop new technologies, such as artificial intelligence (AI) and big data.

The company also plans to cultivate a talent pool for AI and big data development in the Bay Area by providing scholarships for the research on the technologies, he said.

Earlier last week, the company signed an agreement with the University of Cincinnati to codevelop industrial AI technology, Gou said.

Industrial AI is comprised of five elements: AI, big data, cloud-based technology, domain knowledge and evidence, he said, adding that the five factors are the backbone of industrial Internet.

Hon Hai has placed an emphasis on integrating traditional manufacturing technology, precision manufacturing and industrial AI.

On June 28, Hon Hai officially broke ground on a US$10 billion project to build an advanced flat- panel manufacturing plant in Racine County, Wisconsin.

The plant, which is expected to create 3,000 jobs initially and 13,000 jobs over the next six years, is part of the company’s efforts to expand the Wisconn Valley Innovation Network, which focuses on the development of applications for AI, high-definition 8K displays and 5G technology.

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