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Technology Stocks : Investing in Exponential Growth
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From: Paul H. Christiansen2/12/2017 4:24:14 AM
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Ford to invest $1 billion in artificial intelligence for your car



Over the next five years, Ford will pour $1 billion into an artificial-intelligence company tasked with developing the technology that one day will drive its autonomous vehicles.

The technology also could be licensed to other automakers, executives said

Pittsburgh-based Argo AI was founded late last year by Bryan Salesky and Peter Rander, who previously worked on self-driving-car initiatives at Google and Uber, respectively. The company will include staff members at Ford who have been developing its virtual driver system for the past several years.

In a phone call Friday, chief executive Mark Fields said the investment will help Ford bring its self-driving cars to market by the company’s previously stated goal of 2021. It also will open a new revenue stream if Ford licenses the technology to carmakers who have not developed their own autonomous driving systems.

washingtonpost.com

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