Toyota To Invest Billion in Artificial Intelligence Research

Two months after announcing a $50 million investment in artificial intelligence (AI) research , Toyota is more than doubling down on its bet. At a press conference in Toyko today, the car maker unveiled plans to spend $1 billion over the next five years to establish a new company — the Toyota Research Institute (TRI) — focused on AI and robotics. The institute will be located in Silicon Valley, near Palo Alto’s Stanford University and will be led by Gill Pratt [Pictured; Photo: Toyota], a former official at the U.S Defense Advanced Research Project Agency (DARPA). Toyota said its goal in investing in the AI/robotics institute is to “accelerate R&D in a range of fields to help resolve society’s future challenges by using artificial intelligence and big data .” The…

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