Toyota funnels in billion in artificial intelligence in U.S.

Toyota is pouring in a whopping $1 billion in a research company it’s erecting in Silicon Valley to come up with artificial intelligence technology and robotics, underscoring the Japanese carmaker’s aim to become a leader in ultramodern automobiles that are self-guided and teeming with cutting edge features. Akio Toyoda, Toyota Motor Corp. President announced on Friday that the company will be operational in January at a facility close to Stanford University and will be beefed up with 200 staffs. A second facility will be built close to Massachusetts Institute of Technology in Cambridge. The initiative, which will cover five years, with Toyota committing $50 million for artificial intelligence (AI) research at Stanford and MIT. Toyota quipped that the company’s interest expanded further than driverless cars, which is beginning to be offered by a…

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