Toyota stakes $1 billion on artificial intelligence
Following a pledge of about $50 million investment on joint research centres at MIT and Stanford earlier this year, Toyota has announced its intention to establish an artificial intelligence research company, Toyota Research Institute (TRI), and is seeding it with a initial investment of $1 billion to be spent over the next five years.
TRI will be based in Palo Alto near Stanford University, with a second research center located near MIT in Cambridge, Mass. This spinoff venture will focus on using artificial intelligence to build next-generation robotics that will solve mobility problems.
To Toyota, the future of mobility is more than just autonomous vehicles. Future transportation solutions will also need to be designed to address personal mobility for seniors to help them navigate the world safely and independently.
According to Toyota, the new research facility will be directed by Dr. Gill Pratt, Toyota’s executive technical adviser, and the centre is expected to employ approximately 200 researchers and engineers.