Toyota and NTT plan heavy investment in AI platform development

Japanese carmaker Toyota Motor and telecommunications company Nippon Telegraph and Telephone (NTT) plan to invest a total of 500 billion yen (76.6 billion CZK) in infrastructure and software platforms using artificial intelligence (AI) by 2030. Their aim is to reduce the number of traffic accidents, they said in a joint announcement today.

Driver assistance technology

The companies intend to develop an AI platform for mobility that will use big data to support driver assistance technologies. Toyota and NTT hope the platform will help with such things as preventing accidents caused by poor visibility in urban areas, supporting automated driving services and making it easier to shift from the next lane to the main lane when entering expressways and highways.

The companies also want to make the system available to other industry players, government or academic partners who want to reduce the number of accidents to zero. The two partners would like to have the system ready by 2028 and are planning a widespread rollout from 2030.

Technology test

The companies’ collaboration comes at a time when Japanese automakers are facing pressure to step up their efforts in the growing autonomous driving market. This is increasingly dominated by Tesla and Chinese firms.

Toyota and NTT first collaborated in 2017 to develop technology for fifth-generation (5G) network-connected cars. In 2020, they formed an equity tie-up as part of a smart city project.

Last November, NTT said it planned to test driverless vehicle technology with Toyota as early as 2025 and invest in a US start-up developing self-driving systems. Toyota has set up a division for autonomous driving technology in 2021, with the aim of investing in and developing AI-enabled mobility. Called ‘Woven by Toyota’, the division is also developing a software platform for automakers called Arene and building a Woven City test site for mobility-related systems and services west of Tokyo.

Source: ČTK

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Gulf Brokers Ltd. Review

Comparing spreads, commissions, trading platforms, rules and reading dozens...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Donald Trump’s Trade Policy: How Trump Canada Rallies and Tariffs Affect Global Exports

Donald Trump’s trade policy has once again placed relations...

Beyond Bitcoin and Ethereum: Analyzing Alternative Crypto Trusts Like BCHG Stock

Bitcoin and Ethereum dominate the cryptocurrency investment market. Their...

Ryanair’s Quarterly Profit Falls by a Third as Middle East Conflict Drives Up Costs

Irish low-cost airline Ryanair reported a 34% year-on-year decline...

Airbus secures order for 55 aircraft from Air China and its subsidiary Shenzhen Airlines

Chinese airline Air China and its subsidiary Shenzhen Airlines...

Deloitte Layoffs and the End of the Consulting Boom: What It Means for the Global Economy

The latest Deloitte layoffs are not simply another round of corporate...

Crypto with a Dividend? How YieldMax ETF Option Strategies Work for MSTY Stock

Bitcoin does not pay interest, and Strategy Inc. is...

Taiwanese chip manufacturer TSMC’s quarterly profit surged 77 percent to a record

Taiwan Semiconductor Manufacturing (TSMC), the world's largest manufacturer of...
spot_img

spot_imgspot_img