As part of its strategy to accelerate the development of AI devices for the home, LG has developed its own artificial intelligence chip (AI Chip) with proprietary LG Neural Engine to better mimic the neural network of the human brain to greatly improve the processing of deep learning algorithms.

The AI Chip incorporates visual intelligence to better recognise and distinguish space, location, objects and users while voice intelligence accurately recognises voice and noise characteristics while product intelligence enhances the capabilities of the device by detecting physical and chemical changes in the environment. The chip also makes it possible to implement customised AI services by processing and learning from video and audio data in order to enhance recognition of the user’s emotions and behaviors and the situational context.

Products utilising the LG AI Chip take advantage of the On-Device AI to operate even without a network connection. What’s more, LG’s AI Chip employs a powerful security engine to better protect personal data from external hacking. Processing that does not require high security is designed to run in a general zone and jobs that require higher security run in a separate hardware-implemented security zone.

LG’s AI Chip is designed to enhance the recognition performance in the products it powers such as an advanced image recognition engine for simultaneous localisation and mapping (SLAM). For example, its powerful image processing function corrects for distortion caused by wide angle lenses and generates brighter and clearer images in dark environments. LG Electronics plans to include the new AI Chip in future robot vacuum cleaners, washing machines, refrigerator and even air conditioners. In addition, LG will expand the reach of its artificial intelligence solutions through collaborations with outside companies, universities and research laboratories.

“Our AI C?hip is designed to provide optimised artificial intelligence solutions for future LG products,” said I.P. Park, president and CTO of LG Electronics. “This will further enhance the three key pillars of our artificial intelligence strategy – evolve, connect and open – and provide customers with an improved experience for a better life.”

Many Nigerians are not happy that they are yet to have the CLEAR ability to buy the shares of MTN Nigeria on the Nigerian Stock Exchange. MTN had listed via Introduction which means unlike the typical IPO, the holders of the shares are not obviously obliged to make the shares available for trading. Technically, it was listed publicly but not evidently tradable publicly. That the Securities and Exchange Commission (SEC) is investigating this is not great news because Nigeria has listing by introduction in the books. That MTN decided to use it should not be handled with bad blood. I understand the frustration – everyone wants to get into the game but right now you need to know big connectors before you can get the shares. Largely, it is not really public since without knowing the current holders, you will be out of luck to buy the shares.

The Securities and Exchange Commission (SEC) is investigating the process that led to the listing of MTN Nigeria on the Nigerian Stock Exchange (NSE) last Thursday, THISDAY learnt yesterday.
A source said the application of the telecom firm was initially turned down by the NSE Council before it was later reconsidered, without the authorisation of SEC

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“For Listing by Introduction, you are not obliged to make shares available to the market to buy at all. For Listing by Introduction, shareholders that were existing prior to the company being listed have the opportunity to trade their share.
“So, if you are not a shareholder of MTN Nigeria prior to the listing, you will not be able to sell any share. You only buy from willing sellers in the market,” the source added.

The implication of this listing path was well documented. I did write thus “MTN Nigeria is arriving on the floors of the Nigerian Stock Exchange (NSE) via a special gbaam – listing by introduction and not through the typical IPO (initial public offer). Simply, the company will list already existing shares without any requirement to issue new ones or raise new funds”. Simply, MTN Nigeria has planned not to raise new funds and that means it is possibly not going to trade shares. Nigeria knew this and approved its papers. MTN followed the books – and tested elements which many have not used. We should not make life hard for it.

Comparison between IPOs and Listings by Introduction:

What needs to happen is that SEC needs reforms. It is SEC that needs help so that we can examine our market rules to be sure they are up to date as our economy has been redesigned since those rules were written. On this one, Nigeria needs to allow MTN to have peace. This company never wanted to raise money from any listing. Magically, it saw a way to comply with the listing requirements without messing up with its share structure. It did that – and it is not a crime because everything it did is in the books. If you hate the style, go and change the market rules! A simple line – “If you list by introduction, you must make 5% available for public trading” – will fix this in future.

In the last 10 centuries, China dominated at least 7 economically. India had effervescence. England experienced same. Then America took over. As the new order evolves, the messages of Schumpeter and Adam Smith will become evident. Schumpeter’s “creative destruction” and Smith’s “comparative advantages” will be tested. China is creatively outcompeting all, and can do everything. Largely, its destiny is assured: back to the top. But America will give its best – expect economic warfare ahead.

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