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SoftBank eyes the AI opportunity as it reshuffles the board and puts losses behind

Japan’s SoftBank Group Corp has bounced back as it posted a profit of ¥627 billion (US$6.1 billion) in Q2FY21, compared to a loss of ¥700 billion ($6.6 billion) in Q2FY20. The group's rebound has been attributed to strategic investments in technology stocks and improvement in the performance of its Vision Fund. In an earnings call with investors, the company's chief executive Masayoshi Son said that the investment company which investments in the "information revolution" is looking to expand into artificial intelligence which will be a key focus area, particularly autonomous transportation, banking, healthcare and deliveries. Son told analysts that the age of computers had developed in six phases: calculate, memorize and search, understand, infer and create. “We used to say whoever rules the mobile net will rule the net....We think whoever rules AI will rule the future," he said. "So AI or computer, same as human being, they can -- they start understanding things. And it's not the end. They will infer. It's not the end at all yet. They will create. So that's the phase. Actually, those are the actually privilege of human beings, but the computer is now entering into such phase. They have not exceeded or go beyond human being yet, but they are about to exceed part by part," Masayoshi Son, CEO, SoftBank Group.  Gains through investment book The group has monetized ¥4.5 trillion ($42.87 billion) through asset monetisation in Q2FY21 and since April this has monetised investments worth ¥5.6 trillion ($52.2 billion) in T-Mobile, Alibaba…

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