Terry Gou, chairman of Hon Hai Precision Industry Co., which took over ailing Sharp Corp., plans to increase its focus on artificial intelligence and big data over the next few years as he seeks to transform the contract manufacturer into a more influential force in the global technology industry.
Gou, at an annual gathering in Taipei for employees and family members Sunday, said the company, best known for assembling Apple Inc.'s iPhones, has a great deal of work to do through 2020 to adapt to the sector's new realities. He will expand investments in AI, automation and the "internet of things" to position his companies even more centrally in the tech supply chain.
The comments came a day after a Hon Hai unit, Foxconn Industrial Internet Co., said it expects to spend 27.3 billion yuan ($4.3 billion) on next-generation projects and hold an initial public offering in China.