- Fostering next generation of artificial intelligence
experts
- Investment supports Magna's AI strategy in manufacturing and
autonomous driving
- Magna reaches 60 years in manufacturing excellence and
innovation
AURORA, ON, March 30, 2017 /CNW/ - Magna is playing a key
role in bolstering Canada's
artificial intelligence (AI) expertise and leadership position by
investing in the next generation of AI research and experts.
Magna announced it has committed to invest $5 million CDN into the Vector Institute, a new
independent AI research facility which held its launch event today
in downtown Toronto. Vector will be dedicated to cutting-edge
exploration of AI, specializing in the transformative fields of
deep learning and machine learning. The research aims at
attracting, developing and retaining some of the best and brightest
in the area of AI.
"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."
Magna's AI strategy revolves around two key areas:
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.
Magna is proud to be doing its part by investing in the future
of Canadian technology. In addition to the company's
investment in Vector, Magna recently announced its support for
NextAI - a program that came out of an innovation offsite with
roughly 35 CEOs, entrepreneurs and technology experts to help keep
home-grown talent in Canada and
attract leading thinkers to the country.
"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.
TAGS
Artificial Intelligence, AI, innovation, Vector Institute,
NextAI
ABOUT MAGNA
We are a leading global automotive supplier with 317 manufacturing
operations and 102 product development, engineering and sales
centres in 29 countries. We have over 155,000 employees focused on
delivering superior value to our customers through innovative
products and processes, and world class manufacturing. We have
complete vehicle engineering and contract manufacturing expertise,
as well as product capabilities which include body, chassis,
exterior, seating, powertrain, active driver assistance, vision,
closure and roof systems. We also have electronic and software
capabilities across many of these areas. Our common shares
trade on the Toronto Stock Exchange (MG) and the New York Stock
Exchange (MGA). For further information about Magna, visit our
website at www.magna.com.
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SOURCE Magna International Inc.