Ford Invests $1 Billion In Argo AI To Advance Self-Driving Cars

Posted: Feb 11 2017, 5:38am CST | by , in News | Cars & Vehicles

 

Ford Invests $1 Billion in Argo AI to Advance Self-Driving Cars
Credit: Ford
 

Ford motor company invests $1 billion in Argo AI to use its AI’s robotics to further advance autonomous vehicles

Ford announced that it is making an investment of $1 billion for next 5 years in artificial intelligence Company, named Argo AI. The project will involve a development of new virtual driver system for Ford’s new vehicle that will come in 2021. The system will also cover the license to other companies.

Argo AI includes Google and Uber leaders that will develop a new system through qualified and experienced engineers who will work with Ford. The robotics team and that of artificial intelligence will be led by Bryan Salesky, the founder of Argo AI who is also the CEO of the company, and Peter Rander who is COO of the company.

Ford’s CEO Mark Fields said that the next century will have self- driving cars that will leave a great impact on society. He also said that, Ford expanded its technology for auto and mobility field and by investing in Argo AI it will develop impressive value for the shareholders through strengthening Ford’s leadership that will bring self- driving cars. The company will also be able to license other companies.

“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,” said Ford President and CEO Mark Fields.

“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.”

The team has developed a new virtual driver system for Ford based on the machine learning software that will be the brain of autonomous vehicles. The system will work with robotics and Argo AI. The creative partnership will develop together SAE level 4 self-driving vehicles for the Ford.

Ford will lead the manufacturing of the hardware for this new creation, and will also lead on design of exterior and interior of the vehicle, systems integration, and management of the regulatory policy.

Argo AI will also work with Ford in commercializing the self-driving vehicles.Both will use AI in several applications and will successfully create self-driving cars, said Salesky. He also said that Ford’s energy motivates them to create a high- tech vehicle and commercialize it in 2021.

“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,” said Salesky.

“We are energized by Ford’s commitment and vision for the future of mobility, and we believe this partnership will enable self-driving cars to be commercialized and deployed at scale to extend affordable mobility to all.”

Ford will make an investment of $1 billion in 5 years. Argo AI will have 20 new members in its team for its major offices in Southeastern Michigan and California. Initial focus of Argo AI will be to support Ford in its new project. Argo AI will also license its new technology to several other companies interested in autonomous vehicles.

“Working together with Argo AI gives Ford a distinct competitive advantage at the intersection of the automotive and technology industries,” said Raj Nair, Ford executive vice president, Global Product Development, and chief technical officer.

“This open collaboration is unlike any other partnership – allowing us to benefit from combining the speed of a startup with Ford’s strengths in scaling technology, systems integration and vehicle design.”

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