Toyota to spend $1 billion on artificial intelligence research

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 undoubtedly has automotive implications, the Japanese carmaker seems keen to do more than make cars smarter and safer; it also aims to use AI to aid senior citizens with both indoor and outdoor mobility, according to a press release. Read more...