Toyota announces artificial intelligence R&D firm in Silicon Valley

Toyota Motor Corp. said Friday it will create a company specializing in research and development of artificial intelligence in California’s Silicon Valley in January. Japan’s biggest automaker said it will spend $1 billion (¥120 billion) over the next five years on the firm to be called Toyota Research Institute (TRI) and located in Palo Alto. “Artificial intelligence has a huge potential to change people’s lives and society from now on,” Toyota President Akio Toyoda told a news conference in Tokyo. With competition to develop self-driving technology, robotics and AI getting increasingly intense, Toyota’s move is an apparent bid to place itself ahead of the pack. In September, Toyota announced it will work with Massachusetts Institute of Technology and Stanford University on an artificial intelligence project in which it plans to…


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