(Bloomberg) -- Hyundai Motor Group is setting up a research institute to spearhead its artificial intelligence efforts and will look to collaborate with universities as well as other technology firms worldwide as it strives to catch up with competitors in the development of self-driving cars.
The institute, to be established in Uiwang in South Korea, will work on areas including robotics, new materials and communications, Hyundai Motor Co. said in a statement on Tuesday. It will be seeking “open innovation” opportunities and secure talent from across the world, the company said.
Hyundai Motor is joining automakers including Toyota Motor Corp., Honda Motor Co. and Ford Motor Co. in stepping up efforts in artificial intelligence research to develop technologies that will enable autonomous driving. Ford is investing $1 billion in a Pittsburg-based artificial intelligence company that will develop a virtual driver system while Toyota is spending the same amount to form a research institute dedicated to AI and robotics technology.
The setting up of the artificial intelligence institute follows Hyundai Motor’s establishment this month of a research center for developing autonomous vehicle technologies.
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