Toyota to set up new artificial intelligence unit in US

TOKYO/ NEW YORK, – Toyota Motor Corporation Friday announced plans to set up a new Silicon Valley venture with an initial investment of $1 billion to focus on artificial intelligence and robotics, including finding ways to apply the technology to the automaker’s vehicles and other areas of daily life. Akio Toyoda, president of Toyota, said the Toyota Research Institute (TRI) will begin operations in January 2016, with a facility in Silicon Valley and a second location near the Massachusetts Institute of Technology in Cambridge, Mass.Toyota believes artificial intelligence has significant potential to support future industrial technologies and the creation of an entirely new industry. The planned investment of $1 billion over the next five years, to establish the new venture and get it operational, is in addition to the $50…

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