(Yicai Global) Feb. 8 -- Hon Hai Precision Industry Co., better known as Foxconn Technology Group, has officially announced the start of two AI research incubation programs at an extraordinary general meeting it held recently.

The two AI programs consist of a) establishing a research Institute for Industrial Internet AI applications to help the group develop AI innovation of Industrial Internet plus robotics, and b) offering CNY2.1 billion (USD341 million) to promote the group's transformation to AI-driven Industrial Internet cooperation by cultivating AI talent, and application of IoT sector and Big Data analysis.

Foxconn's gigantic manufacturing empire is striding forward towards AI and intelligent manufacturing. Foxconn is no longer a manufacturing giant which mushroomed after producing original equipment for Apple Inc.'s iPhone. Foxconn aims to become "a global innovative AI platform, rather than just a manufacturing firm," company founder and Chairman Guo Taiming declared at the extraordinary general meeting.

The Industrial Internet AI Application Institute will be set up this year in Taiwan to help hasten Foxconn's transformation with its cross-factory and international operating scale. It may settle branches later in the US, Japan, and Shenzhen, Shanghai, Nanjing and Beijing depending on application demands, Foxconn staff told Yicai Global.

Foxconn also has partners like Wu Enda, an AI expert. Landing.ai, the latest company Wu founded, has already cooperated with Foxconn affiliate Foxconn Interconnect Technology since last July to assist the latter in speeding the reform of its Industrial Internet with AI applications.