Toyota to Invest Billion for Artificial Intelligence R&D

Toyota Motor Corporation (TM – Analyst Report) announced that it is starting a new research and development (R&D) enterprise called Toyota Research Institute Inc. (“TRI”), with an initial investment of $1 billion, over the next five years. The company will be operational from Jan 2016 with around 200 employees. TRI will be engaged in advanced research and product planning, with an initial focus on artificial intelligence and robotics. It will have its headquarters in Silicon Valley, with a second facility near the Massachusetts Institute of Technology (“MIT”) in Cambridge, MA. It is worth noting that Toyota is collaborating with MIT as well as Stanford University to set up joint fundamental artificial intelligence research centers at each of the universities. This will cost Toyota another $50 million, to be spread over…

Link to Full Article: Toyota to Invest Billion for Artificial Intelligence R&D

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