Toyota to set up AI research unit in Silicon Valley

By AFP | AFP – Toyota said Friday it will establish a new $1 billion research and development unit focusing on artificial intelligence in Silicon Valley in the United States.”Toyota believes artificial intelligence has significant potential to support future industrial technologies and the creation of an entirely new industry,” the world’s number one automaker said in a statement.”To underscore this belief, it is making an initial investment of $1 billion over the next five years,” it said.Toyota Research Institute Inc., will be headquartered in Silicon Valley near Stanford University, and a second facility will be located near the Massachusetts Institute of Technology (MIT), with operation starting in January next year, it said.The announcement comes as automakers have been vying to develop autonomous driving technologies that rely heavily on advances in artificial intelligence.Google…

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