(Bloomberg) -- Toyota Motor Corp. will spend $1 billion to form a research institute focused on artificial intelligence and robotics, as the world’s largest automaker looks to elevate its role in reducing traffic fatalities.
Toyota Research Institute Inc. will start operating in January, and the Japanese carmaker’s five-year initial investment will set up locations near Stanford University and the Massachusetts Institute of Technology, according to a company statement. Gill Pratt, the former top robotics engineer for the U.S. military whom Toyota hired in September, will be chief executive officer.
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