SoftBank CEO says data, AI key to growth

Masayoshi Son, chief executive of SoftBank Group Corp., says artificial intelligence combined with data gathered by billions of sensors will bring on an “information revolution,” that will benefit people more than the 19th century Industrial Revolution.

Son, Japan’s richest person, told Softbank customers and partners gathered at a Tokyo hotel yesterday that he believes massive data will help treat cancer, deliver accident-free driving and grow safer food.

SoftBank, the first carrier to offer the Apple iPhone in Japan, has bought leading British semiconductor company ARM, and its acquisition of US robotics pioneer Boston Dynamics, announced last month, is undergoing regulatory approval. Its investments have included Chinese e-commerce company Alibaba and Yahoo Japan.

Private fund

Son set up a private fund last year for global investments in the technology sector, called Vision Fund, with the potential to grow to as much as $100 billion (Dh367 billion). He has won praise from President Donald Trump for promising to invest $50 billion in US startups to create 50,000 jobs.

“Those who rule chips will rule the entire world. Those who rule data will rule the entire world.” Son said. “That’s what people of the future will say.”

This week Softbank announced it will invest in Encored, a US company specialising in IoT technology in the energy sector.