Technological progress is at an astonishing rate. Artificial intelligence and 5G Internet technology are some of the most popular of all of today’s new technologies. In the next five years, Xiaomi Corp, a prominent Chinese smartphone manufacturer, will invest over 50 billion yuan (7.18 billion dollars) in Artificial Intelligence and internet technology of the fifth generation, as per the reports.

Xiaomi Chief Executive Officer Lei Jun made the announcement, posting a letter to the social media account of the company. Nevertheless, Jun did not provide particular details of the project.

Xiaomi announced earlier last year that over 10 trillion yuan will be invested in Artificial Intelligence and the Internet of Things (IoT) in the next five years. And this new announcement strengthens this dedication further.

“We need to turn our continuous advantage in AI, IoT, and intelligent life into an absolute win on a smart scene and completely consolidate our modern era king status,” Lei said.

Lei also confirmed in November last year on the Chinese social media platform, Weibo, that 5G Redmi smartphones will be released by 2020.

In another news, an official of ISRO reported recently that China’s smartphone maker Xiaomi could be the first OEM to feature the NavIC of the Indian Space Research Organization (ISRO), i.e. the Indian Global Positioning System (GPS) version.

According to the ISRO official, Xiaomi and ISRO are in the advanced stage of discussions about the supply of NavIC supporting chipset.

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