Magna commits $5M to AI research institute
April 3, 2017 | By Manufacturing AUTOMATION
Apr. 3, 2017 – Magna has announced it is investing $5 million into the Vector Institute, a new independent artificial intelligence (AI) research facility which launched last week in Toronto, Ont.
Magna says Vector will be dedicated to “cutting-edge exploration of AI, specializing in the transformative fields of deep learning and machine learning,” adding that the research aims at attracting, developing and retaining the next generation in the area of AI.
Magna says its AI strategy is focused on two pillars: manufacturing and autonomous driving.
“From a manufacturing standpoint, leveraging AI can provide human operators enhanced information for decision making and it can automate quality, sorting and material handling to help reduce production costs. AI-enhanced predictive maintenance systems can also enable effective error-free maintenance of equipment which ensures higher machine up-time. As future mobility continues to evolve, AI will play a major role in dynamic decision-making in autonomous driving. Object detection and classification combined with scene segmentation, including traffic volume, speeds and road conditions (weather, light and visibility), will be key attributes to self-driving capabilities,” notes the company.
“The automotive world is changing rapidly, reacting and innovating in response to massive technological advances,” said Don Walker, CEO of Magna International. “Canada is a leader in the potential game-changers of machine learning and AI, and we want to be at the forefront of its advancements in the automotive sector.”
Based in Aurora, Ont., Magna is a global automotive supplier with 317 manufacturing operations and 102 product development, engineering and sales centres in 29 countries.
“Magna has built a legacy on manufacturing and innovation which started in Canada. This year marks the company’s 60th anniversary and we are not slowing down. We continue to invest in our people, operations and technologies, all of which we expect will bring continued success for another 60 years and more,” said Walker.
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