|Thursday, 17 December 2015, 15:44 HKT/SGT|
Toyota City, Japan, Dec 17, 2015 - (JCN Newswire) - With the aim of promoting the joint research and development of artificial intelligence technologies in mobility-related fields, Toyota Motor Corporation (TMC) has decided to invest in Preferred Networks Inc. (PFN). The investment will amount to 1 billion yen, and Toyota will receive stock in PFN through the allocation of new shares to a third party as of December 30, 2015.
TMC is actively researching and developing a wide-range of technologies that are expected to significantly affect the nature of mobility in the future-including automated driving technologies-with a particular focus on intelligence that assists driving, connectivity and interactivity. The overall goal of these initiatives is to foster the creation of a society in which mobility means safety and freedom.
With this shared purpose in mind, PFN would like to plan and develop new products and services by leveraging its expertise and unique technological capabilities in the field of artificial intelligence, including adopting and expanding on its cutting-edge machine and deep learning technologies in industrial applications. With this investment, the collaboration between PFN and TMC in mobility-related businesses will be strengthened.
TMC plans to carry out a demonstration of distributed machine learning at CES (Consumer Electronics Show) 2016 in Las Vegas, which will run from January 6 through 9. The demonstration will showcase a concept that features a potential automotive application of PFN's technology, where multiple vehicles learn not to collide with each other.
About Preferred Networks Inc.
PFN is a venture firm with world-class technological capabilities in the fields of natural language processing and machine learning. The firm was established in March 2014 as a spin-off from Preferred Infrastructure, Inc. PFN's aim is to apply real-time machine learning technologies to new applications in the emerging field of the Internet of Things.
Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.
Toyota Motor Corporation
Public Affairs Division
Global Communications Department
Dec 17, 2015 15:44 HKT/SGT
Topic: Press release summary
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