Researchers are working on developing Toyota’s first driverless cars – and it’s happening just two miles from downtown Los Altos.
The Japanese company established its billion-dollar Toyota Research Institute in January 2016 on El Camino Real to expand on its exploration into robotics and artificial intelligence in regard to autonomous vehicles.
Toyota broadened its investment last month by launching Toyota AI Ventures, a new venture capital subsidiary of the research institute. According to Jim Adler, managing director of Toyota AI Ventures, the subsidiary is looking to invest in startups working on innovative technology in fields such as artificial intelligence, autonomous mobility, robotics and cloud technologies, both inside and outside the automotive industry.
The company’s Silicon Valley location has helped it connect with such startups, Adler said.
“It’s in the Valley to plug into the innovation and disruption that has been so transformative for the world,” he said. “And Toyota AI ventures was founded to connect to that ecosystem of new innovation that is clearly disrupting the automotive industry.”
With initial funding of $100 million, AI Ventures has already invested in three startups: Nauto, SLAMcore and Intuition Robotics. AI Ventures is only looking at early-stage companies at this point, Adler said, but it will likely turn toward more established companies in the future.
“We’re looking for the best entrepreneurial teams and the most innovative technologies – (companies) that can really survive and thrive in the marketplace,” he said.
But while one of Toyota’s ultimate goals is a driverless car, Adler said Toyota AI Ventures is not restricted to the automotive industry. One of the company’s initial investments, Intuition Robotics, is developing a robotic companion for adults that users will be able to interact with conversationally.
New technology such as the cognitive computing present in Intuition Robotics’ robot companion may affect the automotive industry in the future, even if it is not directly connected now, Adler noted.
However, while Toyota AI Ventures continues to invest in outside companies, the Toyota Research Institute is developing its own technology. While a self-driving vehicle may arrive sooner than expected, Adler said the creation of a viable autonomous vehicle still requires a significant amount of research.
“In many respects, cars are social – they interact with pedestrians and cyclists. What is appropriate in San Francisco and Los Altos for driving behavior may not be appropriate in New York or Kansas City or Amsterdam,” he said. “So learning how to drive safely in all these environments is something that the technology needs to learn.”
In the laboratories of the institute’s Los Altos headquarters, researchers and coders are collaborating on creating their own innovative solutions.
“We’re a research institute,” Adler said. “Anything that anyone can dream up, we’re going to cook up.”
For more information on the Toyota Research Institute, visit toyota-ai.ventures.
