ford to invest 1billion
Last Updated : GMT 11:59:16
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 11:59:16
Egypt Today, egypt today

In artificial intelligence startup

Ford to invest $1billion

Egypt Today, egypt today

Egypt Today, egypt today Ford to invest $1billion

Ford announced it will take a majority stake in Argo AI
New York - Arab Today

Ford will invest $1 billion over five years in an artificial intelligence startup with the aim of developing an autonomous vehicle by 2021, the auto giant said Friday.

Ford will take a majority stake in Argo AI, an artificial intelligence company based in Pittsburgh, started in late 2016 by former Google and Uber employees who had worked on autonomous driving.

The venture will employ leading engineers and "roboticists" to develop a "virtual driver" system, described by Ford officials as the "brain" of an autonomous vehicle.

The setup is intended to give Ford a head start on competitors in the race to commercialize autonomous vehicles, said Ford executive vice president Raj Nair. 

"This is really unique in the industry," Nair said on a conference call with analysts. 

It will have the "speed and nimbleness of a startup, but also integrated into a full production development team."

Nair said research towards full autonomy has moved "beyond the research phase," but there remains the need for a "tremendous leap" between the driver-assist technologies now available and full autonomy.

Argo AI employees will have a minority equity stake in the venture. The structure is intended to lure top engineers to the venture, Ford executives said. 

Ford said the investment would help it to realize a previously announced plan to introduce an autonomous vehicle for ride-hailing or ride-sharing service in 2021.

Argo AI plans to hire more than 200 people at sites in Pittsburgh, Michigan and Silicon Valley, according to a press release.

Argo AI and other boosters of autonomous driving argue it could make roads safer and open up mobility to the elderly and others. 

"We are at an inflection point in using artificial intelligence in a wide range of applications, and the successful deployment of self-driving cars will fundamentally change how people and goods move," Argo AI chief Bryan Salesky said. 

Source: AFP

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ford to invest 1billion ford to invest 1billion



Egypt Today, egypt today Modern colorful bedroom renovation

GMT 12:15 2017 Thursday ,21 December

Modern colorful bedroom renovation
Egypt Today, egypt today Paris Fashion Week: John Galliano goes co-ed on the catwalk
Egypt Today, egypt today For the Variety of Interior Design Styles

GMT 22:35 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 09:43 2017 Monday ,06 November

Eye-popping interiors and edgy street food

GMT 12:20 2017 Monday ,27 November

SCORPIO (October24th-November22nd)

GMT 07:46 2017 Monday ,18 September

The dystopian drama based on the 1985 novel

GMT 09:53 2017 Wednesday ,27 September

Heidi Karam happy for in “Seventh Neighbor”

GMT 00:02 2016 Thursday ,15 December

War leaves famed Old City ‘unrecognizable’

GMT 19:36 2011 Wednesday ,04 May

BMW reports 4-fold profit surge in Q1

GMT 07:17 2015 Monday ,03 August

9 subtle traits of most talented leaders

GMT 12:00 2015 Sunday ,26 April

Ferguson wants to see

GMT 07:48 2017 Thursday ,23 November

Lobna reveals details of her decision to join ON TV

GMT 22:20 2015 Monday ,21 September

Android wear to rise as smart wearables surge

GMT 13:50 2017 Wednesday ,10 May

Salman Khan’s 'Tiger Zinda’

GMT 09:04 2017 Tuesday ,28 November

Dubai Women Establishment hosts

GMT 07:46 2017 Tuesday ,24 October

Baskal’s song achieves high views in days

GMT 13:39 2017 Saturday ,11 November

Discover your next stylish staycation

GMT 08:18 2016 Thursday ,21 April

Intel gambit aims for position in post-PC world

GMT 19:37 2017 Sunday ,02 April

Iraqi PM stresses government's quest for reform

GMT 19:46 2017 Monday ,01 May

Milan exhibition highlights

GMT 07:01 2017 Saturday ,04 November

Actress Hana Shiha returns to Egyptian cinema

GMT 14:49 2017 Tuesday ,12 December

Turkey demands life for journalists

GMT 06:41 2017 Tuesday ,12 December

Trump tells NASA to send Americans to Moon

GMT 21:16 2011 Tuesday ,26 April

Yara and Tareq Abu Judeh breakup

GMT 11:41 2017 Monday ,11 December

3 Ways to Find the Best Interior Design Ideas

GMT 07:44 2012 Tuesday ,19 June

Mohammed Morsi the \'substitute\'
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday