Toyota to spend billion on artificial intelligence research

Gill Pratt, who will become the chief executive officer of Toyota Research Institute, speaks at a press conference at a Tokyo hotel on Nov. 6, 2015. Toyota Motor Corp. said the same day it will set up the new entity in the United States in January 2016 for conducting research and development of artificial intelligence. Image: Kyodo/Associated Press By Nick Jaynes2015-11-06 21:38:34 UTC Toyota announced Friday that it will spend $1 billion over the next five years to establish an artificial intelligence (AI) research and development company. Headquartered in a facility in Silicon Valley near Stanford University, the company, called Toyota Research Institute (TRI), will employ around 200 researchers and engineers. A second center will also be established in Cambridge, Massachusetts near Massachusetts Institute of Technology (MIT). While the move…

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