Samsung Electronics Vice Chairman & CEO Dr. Oh-Hyun Kwon unveiled on June 21 Samsung’s vision for ‘Human-Centered IoT,’ including a strategy to spend $1.2 billion over 4 years for U.S.-based Internet of Things (IoT) R&D and investments.

This will be led by the Samsung Strategy and Innovation Center, Global Innovation Center and Samsung Research America, part of Samsung’s U.S. footprint of more than 15,000 employees across the country, said the company.

Kwon delivered this news in a speech as part of a Samsung-hosted forum in Washington, D.C. The event, entitled Internet of Things: Transforming the Future, brought together technology industry leaders with policymakers and influencers to discuss the many ways IoT can benefit society, and how to tackle the challenges that remain in bringing it to scale.

“At Samsung, putting people at the center of everything we do is our highest value,” said Kwon. “The same must be true for IoT if we want to realize its full transformative power. Today, IoT is changing individual lives – helping people to age in their own homes.”

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“But tomorrow, using IoT, we can give the same independence to millions of Americans. We can keep people out of hospitals and nursing homes. As our populations live longer, these benefits and cost savings for society cannot be ignored,” he added.

As the IoT ecosystem is by nature connected and interwoven, collaboration is vital to promoting this level of openness and interconnection. Kwon urged attendees to pursue cross-sector dialogue and partnerships, and announced Samsung’s role as a co-founder of the newly launched National IoT Strategy Dialogue.

The event is part of Vision for Tomorrow, Samsung’s recently launched public affairs platform for cross-sector collaboration around issues affecting the policy dialogue in the U.S. and around the world.