Ford had a $1 billion joint partnership with Argo AI, allowing Ford to have a self-driving technology. The famous automobile company is going to be a major stakeholder in this partnership. However, they will be independent of the artificial intelligence company.
Employees will receive equity from Ford. This partnership is expected to last for five years, Techcrunch reported.
"Argo AI will develop and deploy the latest advancements in artificial intelligence, machine learning, and computer vision to help build safe and efficient self-driving vehicles," Argo AI CEO Bryan Salesky said. "The challenges are significant, but we are a team that believes in tackling hard, meaningful problems to improve the world."
Salesky explained that ambitions will only be realized if they will be willing to partner with others. Byan Salesky also added that having an open mind is important to solve this kind of problem.
Ford's partnership with Argo AI might be considered a bold move, considering that the company is just two months old. Nevertheless, the company is known for its extensive experience with autonomous vehicles for Caterpillar and other companies.
This is not Bryan Salesky's first foray to self-driving cars. Salesky led the team for Google's self-driving hardware in 2011, making him an expert on self-driving cars.
Dr. Brett Browning and Dr. Peter Rander will also be part of this project. They were part of Uber's researchers that was hired from Carnegie Mellon University National Robotics Engineering Center.
"The investment will be spread over a five-year period encompassing Ford's target date of 2021 to attain full autonomy for its vehicles, a goal which has just become a great deal more attainable with this infusion of talent," The Drum reported.
Just recently, Ford invested $200 million for a new vehicle facility in Michigan. Automotive News reported that this will include wind tunnels and climatic chambers.