Ford bets a BILLION on unknown Argo AI for self-driving tech
February 13, 2017 at 11:37 AM
Ford will invest $1Bn. over the next five years in Argo AI.
Despite it was the Silicon Valley who started the R&D war, carmakers reacted investing enormous amounts in Artificial Intelligence technologies.
Ford is not the least in that investment plan and placed its bet on tech start-up Argo AI.
Though the investment seems enormous, it's rather the norm than the exception in the tech industry.
Argo AI was founded by former "Googler" Bryan Salesky and "Uberer" Peter Rander. As usual, in "Super-High-Tech" engineers specialised in the AI sector are like diamonds in the rough.
Mark Fields, Ford CEO, said:
The next decade will be defined by the automation of the automobile, and autonomous vehicles will have as significant an impact on society as Ford’s moving assembly line did 100 years ago. As Ford expands to be an auto and a mobility company, we believe that investing in Argo AI will create significant value for our shareholders by strengthening Ford’s leadership in bringing self-driving vehicles to market in the near term and by creating technology that could be licensed to others in the future.
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