B2B Payments

Samsung’s Secret New Chip Built For IoT

With experts building excitement over the Internet of Things – the growing world of hyper-connected gadgets and technologies – new areas of business will provide companies an opportunity to innovate greatly in the IoT space. Much of the discussion is on Big Data and the need for data storage, analysis and visualization services.

But Samsung is one company attacking the IoT world from another direction. Reports said that the South Korean conglomerate is planning to unveil new chip platforms next week build specifically to power the “things” of the Internet of Things. According to an unnamed source, who spoke to CNET this week, Samsung’s new chips will power an array of devices, from wearable technology to washing machines.

The new hardware, reports said, will be dubbed Artik.

The new technology, the source said, was developed at Samsung’s Strategy and Innovation Center, which was formed to focus on technology innovation in hardware. More recently, the group has taken a stronger position among Samsung’s investment projects, reports said.

Samsung is expected to officially announce Artik when the Samsung Electronic’s president and chief strategy officer delivers the Internet of Things World Conference to be held on Tuesday (May 12) in San Francisco. The company has already teased the launch of a new technology, revealing in a press release that the event will host Samsung’s unveiling of “a major company milestone that will enable the new wave of groundbreaking IoT devices and services.”

The rumors of Artik emerge after Samsung acquired smart-home firm SmartThings to launch the South Korean company into the IoT world. More recently, the firm consolidated all of its enterprise-focused services into one B2B unit in response to findings that 95 percent of businesses around the world are planning to adopt IoT technology in just a few years. Those companies, Samsung said, will need data management, analysis and security, and its new B2B unit will work to position itself as a leading provider of IoT-ready solutions.



About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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