Toyota to spend bn on artificial intelligence

Toyota Motor will establish Research Institute (TRI) as an R&D unit focused initially on artificial intelligence and robotics. It will be based in Silicon Valley near Stanford University in Palo Alto, California with a second facility near the Massachusetts Institute of Technology (MIT) in Cambridge, Massachusetts. The new company will begin operations in January 2016. Toyota said it believes artificial intelligence has significant potential to support future industrial technologies and the creation of an entirely new industry. It is backing this up with an initial spend of US$1bn over the next five years to establish and staff the two initial locations and conduct operations. The spend is on top of the $50m allocated over the next five years for MIT and Stanford to establish joint fundamental artificial intelligence research centres at each university. TRI…

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